Addepar receives raw files directly from custodians, prime brokers and fund administrators. This data is delivered at the transaction and position level and is then translated into Global Financial Format (GFF): a universal data format designed by Addepar’s engineers. The platform has automated tools to import the user’s historical data and to input holdings and transactions in non-exchange traded assets.
Addepar’s open architecture allows for integration with third-party data providers. Through the platform’s BlackBox system, the information around the custodial positions is enriched with market data, adding properties such as asset class, sector, and credit rating.
Addepar reconciles custodial data on a unit and price basis. A transaction must be reconciled before it can be used on the platform. Through BlackBox, Addepar can also reconcile custodial positions against third-party data providers by flagging price inconsistencies and other statistically unusual activity that may warrant investigation. Addepar engineers have developed algorithms to systematize and automate this process to a significant degree. Reconciliation is ultimately overseen and managed by Addepar’s Quality Assurance team.
Addepar is able to represent every asset that a client holds at the transaction level. This allows the user to understand the complete picture of a client’s exposure. While many reporting solutions only allow holdings to be organized at the account level, Addepar has the capability to roll up a portfolio using any hierarchy. For example, assets can be arranged by any combination of account, country, sector or a user-defined custom property such as counterparty.
Addepar also allows the user to intuitively filter and group assets. When the user clicks on a chart, the corresponding table is automatically filtered to show the selection. Likewise, it takes just a few clicks to zoom in on the best or worst performing assets in their native or converted currencies.
This flexibility allows the user to conduct interactive analysis as events unfold. For example, the user can respond to a natural disaster or political crisis immediately and proactively by generating a new exposure analysis based on the relevant geographic groupings.
Addepar offers the same level of flexibility with the way performance is calculated on the platform. Return metrics such as IRR, time-weighted return, total return or contribution are calculated in real-time at the position level. These position-level results can then be rolled up to a user-defined grouping; whether that is something standard like asset class, or something more customized like a goals-based strategy.
The same capability extends to benchmarking. Addepar allows the user to apply a benchmark to a security, account, portfolio, or any custom grouping, enabling relative performance at multiple levels. The user can also construct customized benchmarks with Addepar’s built-in Benchmark Editor.
During the onboarding process, new users work with Addepar’s Deployment and Design teams to create an initial set of report templates. These templates are produced iteratively to ensure that they fit the user’s need and also satisfy compliance and regulatory requirements.
Addepar’s reporting engine empowers the user with the ability to easily edit templates or create new ones. Reports can be run over any time period and sent out to any client or set of clients. External materials such as charts, images, and market information can be incorporated into reports with ease.
A user can produce a comprehensive report that is analytically and aesthetically best-in-class in just a few minutes. These ad-hoc reports, along with the standard monthly or quarterly reports, can be emailed, printed for mailing, or sent directly to the Client Portal. The platform allows for the appropriate permissioning to be set on these workflows to ensure that new ad-hoc reports are firm compliant.
Addepar provides a white-label Client Portal that is designed to reflect the firm’s aesthetic and branding. The firm’s clients can log into the Client Portal to view their portfolio as well as to retrieve any relevant reports or documentation. The firm can tailor the interface for each client, and can also customize and configure exactly what information and reports each client can view. For example, at a client’s request, a firm could grant distinct levels of access to family members who are associated with specified trusts and legal entities, and limit permission to other members of the same family.
Addepar has an automated billing tool with the flexibility to account for different fee schedules or rules on individual assets, accounts and legal entities. Complex firmwide billing can be completed and invoices sent in minutes.
Addepar’s File Vault saves, stores and organizes all of a user’s documentation. It uses a traditional hierarchy that includes the ability to tag and link documents to entities and assets. For example, by linking documents, a fee agreement could be shown under an individual LP interest as well as under that specific client.
Addepar analyzes the dynamics of your firm, and determines how we can customize the Addepar platform to your unique data requirements.
Introductions, Overview & Timeline
Upon meeting your deployment team members, you will learn about the deployment process, and help decide upon a firm specific timeline.
Training with the Addepar Software
Over the next three to four weeks, your deployment team helps your analysts become accustomed to Addepar, teaching common and firm specific workflows.
Data Integration and Testing
During the software training, our engineers work behind the scenes to integrate all of your historical data onto the platform, and connect your Addepar with the appropriate data feeds.
Coordinated Data Review
You and your deployment team will compare Addepar’s account data to the data from your legacy system to confirm accuracy and ensure a seamless transition.
Transition to Addepar
When your data is verified by both you and your deployment team, we complete the transition of your data to Addepar.
In the last stage of deployment, your deployment team will help replicate your common workflows. Your team will also help you create ideal reporting templates, and highlight the most useful features of your Addepar.
Feedback and Support
Support is available by phone, email, and live chat.
Your dedicated deployment advisor is your primary point of contact throughout the deployment process. This advisor coordinates the processes outlined above with quality assurance, engineering, and support teams. In addition to making sure the transition goes smoothly, your advisor directs the optimization of your Addepar in response to your firm’s specific needs.
Our quality assurance team confirms that all of your data and transactions are correctly modeled and formatted in your Addepar. A quality assurance specialist assigned to your deployment works closely with the deployment advisor to monitor your data. This includes a daily reconciliation exercise that tests the data comprehensively.
Software specialists train your staff during deployment, and continue to assist them with quarterly trainings. Software help is always available by phone, email, and live chat.