Growing demand from the wealth management community reaffirms company’s mission to build first universal operating system for finance
MOUNTAIN VIEW, Calif. August 9, 2017 – Addepar, the operating system
for our financial world, today announced a strong second quarter and
continued company momentum. Founded in 2009 by Joe Lonsdale, Addepar
now supports 250 firms and $750 billion in assets on its leading investment
management platform, a 33 percent increase since the beginning of the year.
Client Growth Reflects Significant Industry Demand
The Addepar platform has attracted the attention of leading wealth advisors, family offices and large financial institutions. BMO Wealth Management’s CTC l myCFO, GHS Partners, King Pine Investments, Rossmore Private Capital, and Summit Equities, Inc. are a few of the clients to join the Addepar roster during the quarter. Existing clients Morgan Stanley, Dynasty Financial Partners, and Jefferies reflect the breadth of clients that trust Addepar’s purpose-built solution, embracing technology to enhance wealth management practices and deliver client-centric advice.
“CTC | myCFO is privileged to partner with some of the world’s wealthiest families, helping them manage their wealth with an unwavering focus on service and an open architecture investment platform,” said Nick Paldrmic, President of BMO Wealth Management’s CTC | myCFO. “Our partnership with Addepar will allow us to focus on wealth research, advisory, and management while continuing to provide clients with sophisticated analysis and performance reporting across multiple generations, investment partnerships, and alternative investments.”
“Transitioning from a legacy system could have been a painful process. But Addepar made this experience as pain-free as possible. Addepar had us onboarded in a matter of weeks, and from our first engagement to the day-to- day support, they have consistently delivered an unrivaled level of client service,” said Theodore B. Smith, III, Managing Member of GHS Partners. “Our family office wants to scale without a huge back office. The Addepar platform allows us to do this without an army of analysts.”
“Finding the right technology partner was critical to us as we started our new advisory firm. Addepar’s platform gives us the flexibility and depth we need to provide our clients with transparency and insight into their portfolios,” said Stuart Ames, Partner at King Pine Investments. “Our endowment and foundation clients are sophisticated investors who take fiduciary responsibility seriously – both theirs and ours. As a critical part of the client experience, Addepar helps us demonstrate that we understand our clients’ organizations and act as their integrated investment office/OCIO.”
Financing Ranks Among Largest Deals in 2017
In June, Addepar announced a $140M Series D round of funding, one of the largest fintech funding rounds to date in 2017. Led by Valor Equity Partners, 8VC, and QuantRes founder Harald McPike, the new capital allows the company to continue investing significantly in R&D, expand its product and platform, and serve a wider range of wealth and asset management firms. Addepar’s employee headcount grew to over 250 by the end of Q2, and the company will continue to hire top talent in the coming months across its New York, Mountain View and Salt Lake City offices.
Acquisition and Integrations Expand Platform
Addepar continues to deliver the most comprehensive wealth management platform, actively integrating with partners to provide an unrivaled solution to clients. In June, Addepar acquired AltX, an intelligence platform that brings Addepar clients greater visibility and insights into alternative investments using machine learning technology. Addepar also launched an integration with
eMoney Advisor, and deepened its integration with Schwab by joining OpenView Gateway. This expands the Addepar ecosystem which includes the most respected financial services and technology companies: Salesforce Financial Services Cloud, FolioDynamix, iCapital Network, Citco Fund Services, RedBlack Software, Blaze Portfolio, Quovo, Morningstar and BaySys Technologies among others. Each integration is tailored for wealth advisors to unlock greater value from Addepar’s platform and maintain a competitive edge by delivering a differentiated service to each client.
“Our growth reflects extraordinary demand from wealth advisors who embrace technology strategically in order to serve their clients and scale their business,” said Eric Poirier, CEO of Addepar. “In the past quarter, our team has made a massive impact — but we’re just getting started: our recent funding, client and partner wins and commitment to deep innovation propel us towards our ambitious goal of powering the global financial system with a unified platform.”
To learn more about the Addepar platform, please visit addepar.com.
About Addepar
Addepar is the financial operating system that brings common sense and data- driven investing to our financial world. Addepar gives asset owners and advisors a clearer financial picture at every level, all in one place. It handles all types of assets denominated in any currency. With customizable reporting, financial advisors can visualize and communicate relevant information to anyone who needs it. Secure, scalable, and fast, Addepar is purpose-built to power the global financial system. Hundreds of single and multi-family offices, wealth advisors, large financial institutions, endowments, and foundations manage $750 billion of assets on the Addepar platform. Addepar has offices in Silicon Valley, New York, Chicago, and Salt Lake City.