Addepar’s technology aims to provide advisors and their clients with a holistic picture of their assets, knitting together multiple data sources and capturing holdings like alternative investments or shares in private companies that traditional software programmes don’t often capture. Addepar now counts more than USD 3.5 trillion of client assets on its data-aggregation and reporting platform, a figure the company says is increasing at a pace of USD 15 billion a week.
Addepar’s roster of clients includes registered investment advisors, private banks, and family offices, with a presence in more than 25 countries. RBC has been rolling out the Addepar platform in phases, with plans eventually to transition all 2,100 of its financial advisors to the technology. The customised visualizations of clients’ portfolios and reporting options have reportedly been a big hit with RBC advisors, as has the sheer breadth of data that Addepar’s platform aggregates, according to the company.
Addepar says that about 40% of the assets on its platform are alternatives, private-company shares, or some other type of nonmarketable security.
Now with Addepar’s platform, RBC advisors can tie in advisory and brokerage accounts, 529 plans, and any outside accounts to which clients grant access, along with more complex and exotic investments like private-equity holdings. That category of broadly defined alternatives—an area of increasing interest for wealthy clients—had been a particular pain point for RBC advisors.
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