Platform

Addepar Posts Record Quarter and Exceeds $2 Trillion of Assets on Platform

David Lessing

Chief Business Officer

Published on

We’re proud to share that Addepar has reached a milestone and surpassed $2 trillion in client assets on our platform. Building on the momentum from our November 2019 announcement of $1.7 trillion in assets, Addepar has continued adding assets at a rate of $10 billion per week on average, even amidst extreme market volatility. 

This moment, for us, is about much more than a number. Addepar was founded out of the 2009 Global Financial Crisis and was purpose-built for times such as these, when communication with clients and transparency into asset positions is paramount. What’s more, the past several months have proven our decade-long hypothesis that Addepar can bring unmatched value to advisors through offering a more complete and meaningful financial picture during times of economic uncertainty.

Strength through volatility 

As Aite Group recently reported, the COVID-19 pandemic has catapulted advisors into a new understanding of the importance of efficient technology and digital client engagement. We’ve seen this phenomenon play out in every facet of our business, with more firms opting for modern, cloud-based technology that enables them to work from anywhere, and swiftly handle their clients’ wide range of questions. In an extremely challenging market and operating environment, Addepar delivered a record quarter on multiple fronts:

  • Record number of new clients, with a 50% increase over Q2 2019. 
  • Record number of renewals and new referrals from our existing clients and technology partners across the industry. So far this year, over 25% of new clients have been referred by our current Addepar users.
  • Record number of new clients using integration partners. 
  • Strongest quarter ever for our Family Office segment and RIA segment, with new clients such as Sowell Wealth Management. 
  • Continued growth in the Enterprise segment with the addition of a super regional wealth management firm with over 1,500 financial advisors.

Here’s some of our favorite feedback from our new clients over the past quarter: 

“Throughout our due diligence process, we found that no other performance reporting tool had the customization capabilities and depth of Addepar. The ability to analyze and dissect performance throughout the portfolio was significantly better than the other systems available in the marketplace today." - Ian Weinstein, Founder and CEO, Regimen Wealth"

"After my own thorough review of technology vendors available today, Addepar set themselves apart by being truly consultative in their approach. The team understood my issues, provided suggestions, and allowed me to analyze this decision from all angles. At the end of the day, my ability to manage and report on all public and private investments in one place was a key factor in my decision." - Bob Quinn, CEO and President, RJC Capital

Continued innovation

In addition to strong business results, we’re extremely proud of our team members who went above and beyond to support clients and prospects during this unprecedented time. 

Together, colleagues from Services to Account Management, Sales to Marketing, Engineering to Product: 

  • Rapidly mobilized a series of highly attended webinars/office hours for our clients to connect with experts and share best practices 
  • Introduced our Addepar Assurance program to enable prospects to quickly access our platform at the time they needed it most 
  • Continued the strong growth of AddeparGo, a tailored version of our traditional offering designed for speedy implementation and to support all types of advisor firms that serve a range of clients from Mass Affluent to Ultra High Net Worth 
  • Introduced Marketplace*, a new application within the Addepar platform that allows clients to view and assess a range of offerings and digitally initiate transactions through trusted partners
  • Introduced a scalable "Advent Converter," which streamlines migrating data from Advent's APX and Axys systems into Addepar, supporting historical data conversions
  • Maintained our exceptional standards for platform availability and performance during record client usage levels 
  • Made industry-leading enhancements to our platform and integration ecosystem 
    • Integration Center: The Integration Center is one place for clients to discover, connect and manage integrations with Addepar and improves the user experience by centralizing access and information in one place. 
    • Community Forum: Addepar Community Forum is our new, secure online meeting place where all clients can share knowledge and best practices
    • Idea Portal: Idea Portal lets clients request product features and enhancements, browse peer contributions to see what’s trending and vote on suggestions
    • Help Center & Addepar Academy Updates: Addepar’s Online Academy delivers in-class experiences available anytime, anywhere. New online offerings include our Getting Started course, the Addepar Academy 200 Series for power users and a host of online, on-demand resources via our Help Center.
    • Additional General Ledger Capabilities: Addepar integrates with General Ledger (GL) Accounting systems so that data stored in Addepar –household groups, asset classifications, accounts, positions, and transactions –is populated within clients’ GL, enabling more efficient financial analysis and reporting.
    • Proposal Tool: Our new proposal tool simplifies the proposal-generation process by bringing data and technology together on a single platform

We’re pleased with these results and proud to be working with some of the most notable firms and family offices in our industry. Our team is always available to share best practices. Please feel free to contact us to learn more. 

*Marketplace and all brokerage services provided by Acervus Securities, an SEC-registered broker-dealer and member FINRA/SIPC, an Addepar company.