Silicon Valley Bank

Enhancing client relationships by truly addressing complex portfolios

When Silicon Valley Bank launched its wealth advisory business in 2013, it sought the most sophisticated tools to advise its clientele of technology leaders as well as private equity and venture capital partners. In addition to its wealth advisory business, SVB also privately banks approximately 1,500 of these innovative entrepreneurs and financiers. Under Jeff Schnitz, SVB’s President of Wealth Advisory, the firm focuses on building its relationships, providing an unprecedented degree of value and service in an industry that has historically prioritized the bottom line. “Some wealth advisors really, really worry about the dollars spent, and the relationship component is a by-product. We’re exactly the opposite. We love the relationships.”

To ensure that the firm could deliver on its ambitious promise, it sought a platform that could facilitate discussion of investment portfolios and balance sheets lined with public and private assets, all in one place. “Virtually all of our clients have complex liquidity needs and substantial public and private assets,” Mr. Schnitz explains. “Many analysis and reporting solutions don’t handle both public and private assets well, so you don’t get the visibility our clients need. Our clients also tend to be leaders in the innovation economy. They expect a consistent level of transparency into their portfolios, not just occasional reports.”

Consistent flexibility and  accuracy for any portfolio 

"No other solution came close, and we evaluated dozens of options. Addepar provides a high level of consistency with timely and accurate direct custodian feeds, allowing this information to be represented in elegant reporting tools. It just connotes ease, trust and safety."

—Jeff Schnitz

As a robust data aggregation, analysis, reporting and portal solution designed to streamline all of these complex assets on one platform, Addepar offered a specialized answer to Silicon Valley Bank’s challenges. “No other solution came close, and we evaluated dozens of options,” Mr. Schnitz says. “Addepar provides a high level of consistency with timely and accurate direct custodian feeds, allowing this information to be represented in elegant reporting tools. It just connotes ease, trust and safety.”

Specifically, Addepar provides the versatility to customize reporting on a client-by-client basis, guaranteeing accuracy and timeliness no matter the complexity. For families, startups and veteran companies whose assets range across myriad categories, this flexibility is crucial. “Addepar doesn’t treat every person as if they’re robots. With our type of clientele, they’re looking for customization to their family-specific needs. We have families that have very few public assets, incredible amounts of angel investments and assets in other things. We can represent a nice story that’s elegant and focused, alongside another family with mortgages and public company assets, but without the private assets. The story is elegant all the same.”

"Addepar helps us to have the kind of conversations that help to build better relationships with clients."

—Jeff Schnitz

SVB also appreciated Addepar’s cloud-based architecture, allowing clients to access a branded online portal for access to portfolio information at any time, on multiple devices. “One of our clients might want three custom views, and another might ask for more,” Mr. Schnitz says. “I need Addepar to be flexible and useful for both, and it is. Addepar helps us to have the kind of conversations that help to build better relationships with clients.”

Heightened service with efficiency

"The platform consistently focuses our time and energy on the client relationship, because every client has a complex balance sheet."

—Jeff Schnitz

With the tools to address a diverse client-base without expending additional time and resources, Silicon Valley Bank has both elevated its efficiency and value by partnering with Addepar. “The platform consistently focuses our time and energy on the client relationship, because every client has a complex balance sheet,” Mr. Schnitz explains. “It creates a very high level of simplicity in the eyes of the client. It’s not an Excel spreadsheet. It’s not something cobbled together. It’s very clean and elegant, customized to their every need.”