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The wary love affair between RIAs and Addepar and where it's headed

Silicon Valley Bank launches RIA, SVB Private Bank, to join Robertson Stephens and Iconiq Capital among Bay Area RIA devotees

Author Brooke Southall April 30, 2015 at 6:29 PM
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Jeff Schnitz (r.) sits shoulder to shoulder with Joe Piazza to tell prospects why Addepar is part of their hyper-ambitious RIA startup plan.

Pete Giza

Pete Giza

April 30, 2015 — 7:56 PM

Brooke,

Interesting you bring up the point of RIAs and crunching numbers. This is not just an RIA phenomena and it remains the reason that the financial advisory industry will not stop hugging Excel. Simplicity is good especially in presentation. That is not to say to dummy down what is presented, rather less is more. The same holds true to effective and elegant interface design.

WYSIWYG report tools are cool, but is it what the industry wants? Only time will tell how really effective it is. As was stated in the article, it isn’t disruptive, it is what has been expected for over a decade in an industry that is a technology laggard. What could be disruptive is how Addepar leverages its technology to be innovative and where it directs that $50mm investment to turn it into a $1B+ multi-national organization. Technology on its own right isn’t going to make that happen in a million years – not here. We’ve all heard “the best technology rarely wins the market”.

At the end of the day RIAs need to be given the choice as to how much simplicity they want. Its as variable as what and how they present to each individual relationship. Firms such as those mentioned who have not had the pleasure of moving from one platform to another are jaded. Giving firms a choice as to how and when that transition is made has far more value. Most firms have invested heavily over the years in personnel training, understanding and integration of these applications into their personalized workflow, style and even culture. As I’ve commented in previous articles “change is scary”.

Here at WealthSite we see the world of private assets as a veritable frontier of opportunity. One which we are very happy to serve. This year alone has we have seen over 100% increase in focus on the private world by firms ranging from $200mm to $40B.

At the end of it all you either need to pick your niche and be the best at it or try to be all things to a global market and not necessarily the best because its about impossible. Take a lesson from the numerous failures of Apple, Advent, Microsoft and the list goes on.

Pete

Pete Giza | VP Bus Dev | WealthSite Inc | www.wealthsite.com

brooke southall

brooke southall

April 30, 2015 — 9:12 PM

Pete,

It’s always a treat when you comment. You have a knack for picking up on points that get short
shrift in an article and filling gaps for the reader.

This is a great line(s) and use of 'jaded’:

Firms such as those mentioned who have not had the pleasure of moving from one platform to another are jaded. Giving firms a choice as to how and when that transition is made has far more value. Most firms have invested heavily over the years in personnel training, understanding and integration of these applications into their personalized workflow, style and even culture. As I’ve commented in previous articles “change is scary”.

Interesting the uptick you confirm in investments in private assets by advisors.

This year alone has we have seen over 100% increase in focus on the private world by firms ranging from $200mm to $40B.

Thank you,

Brooke


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Mentioned in this article:

Addepar
Portfolio Management System
Top Executive: Eric Poirier



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