Case study

Addepar Enables Growth for $3.8B AUA Advisory Firm

PagnatoKarp

Note: PagnatoKarp was acquired by Cresset in June of 2020, and rebranded as Cresset. Throughout this case study, any reference to PagnatoKarp refers to this entity and its relationship with Addepar.

PagnatoKarp is an award-winning independent financial advisory firm serving ultra- and high- net-worth families, entrepreneurs, and individuals. An Addepar client since 2016, PagnatoKarp takes pride in its culture of innovation, integrity, and high-touch client service, as well as its True Fiduciary® standards of transparency that place clients’ interests first.

HEADQUARTERS

Reston, Virginia

FOUNDERS

Paul A. Pagnato
David W. Karp

ESTABLISHED

2016

ASSETS UNDER ADVISEMENT

$3.8B (AS OF 12/31/18)

TEAM MEMBERS

34

CLIENTS SERVED

300+

TECH PARTNER INTEGRATION

eMoney Advisor®,
RedBlack, Salesforce®,
Fidelity Family Office Services,
Fidelity Clearing & Custody Services®

CHALLENGE

In Search of a Cutting-Edge Partner

When PagnatoKarp launched a search for a new best-of-breed technology partner, the team sought a solution that could support their plans for rapid business growth. They needed a new platform that would provide sophisticated data aggregation and reporting, while supporting a great client experience.

“Our clients often had very custom requests,” says Founder & CEO Paul Pagnato. “We wanted a solution that would allow us to customize reports for our clients based on their needs, but still be able to scale.”

The team also required that the new technology support reporting for alternative investments. “We had constraints with our previous tools, which were unable to streamline and automate reporting on private investments,” says Pagnato. 

SOLUTION

A Flexible and Integrated Tech Solution

"We’ve been able to grow our business, provide customized reports, and maintain a 99% client- retention rate—all without investing in additional human resources for reporting."

Paul Pagnato

PagnatoKarp recognized that overhauling their technology was a major undertaking. “It’s a big decision to make a change,” says Pagnato.

The team found their answer in Addepar. “Addepar’s technology was head and shoulders above the others,” Pagnato recalls. “We wanted a system that would integrate with our customer relationship management system and our financial planning tools.” 

Using Addepar, PagnatoKarp advisors were able to aggregate data from third-party sources and feeds, including data on private investments.

They could then quickly analyze it and tailor how to present it to the client. “Data is the new oil,” says Pagnato. “Now we can serve it up the way the client wants to see it—any statistical mix.”

"Addepar has enabled us to be a True Fiduciary® for our clients."

Paul Pagnato

Addepar also worked seamlessly with PagnatoKarp’s other technologies. With Addepar as its foundation, PagnatoKarp was able to create a single cohesive system serving all team members in their total family office. 

RESULTS

Heading for Exponential Growth

This powerful ability to aggregate and customize data has enhanced PagnatoKarp’s clients’ experience. With Addepar, “we can offer new things to clients all the time,” adds Pagnato. This allows PagnatoKarp advisors to further strengthen their role as trusted experts in wealth management and family office services. “Addepar has enabled us to be a True Fiduciary®
for our clients,” says Pagnato.

"I expect us to become twice the size we are today. Addepar will continue to be a core partner going forward."

Paul Pagnato

For landing new business, the addition of Addepar “is a game changer” according to Pagnato. When prospects see demos of PagnatoKarp’s customized analysis and reporting, “they are blown away.”

Additionally, when it comes to scalability and improvements to back-office efficiency, Pagnato gives Addepar top ratings. “We’ve been able to grow our business, provide customized reports, and maintain a 99 percent client- retention rate—all without investing in additional human resources for reporting,” says Pagnato.

For Pagnato, it’s clear that Addepar continues to be committed to the firm’s success—always there to answer questions, develop new solutions, and help them get the most from Addepar’s technical expertise. Pagnato sums it up: “I expect us to become twice the size we are today. Addepar will continue to be a core partner going forward.”