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
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 Giza | VP Bus Dev | WealthSite Inc | www.wealthsite.com
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.
Addepar's chairman writes five-alarm warning about how US immigration red tape is putting foreign engineers through hell, creating a 'quiet crisis' for tech companies
Joe Lonsdale uses words like 'egregious' 'crapshoot' and 'rude' in Wall Street Journal article to explain how 'America and its economy are the butt of the joke.'
October 26, 2022 at 1:12 AM
Joe Lonsdale is prepping Lonsdale Investment Technologies for launch 13 years after founding Addepar -- with the new business model too cannibalistic for comfort, some say
The Austin, Texas, serial entrepreneur is still executive chair of, and a big stakeholder in, Addepar but may need a fresh start to manifest his hyped vision of creating high bandwidth financial flow between retail investors and vast private markets.
February 23, 2022 at 12:09 AM
Surfing a $15-billion-a-week asset growth meteor, Addepar CEO Eric Poirier hires an owner as president to achieve 'escape velocity' and keep operations from flaming out
Addepar is fast nearing $3 trillion, it says, after a 50% RIA asset spike in 2020. Now an Addepar owner through Valor Equity Partners is stepping in to safeguard or supercharge his investment depending on the point of view.
April 9, 2021 at 11:03 PM
Addepar hires Advent genius then launches 'Advent Converter' to court the RIAs still on Axys and APX ; PortfolioCenter 'easy button' comes next
The tactic by the Mountain View, Calif. firm and Advent co-founder and code avatar Steve Strand comes a decade after Orion, Black Diamond and Tamarac began feasting on the legacy corpses, but Addepar insists meat remains on the bone.
March 3, 2020 at 5:05 PM
Portfolio Management System
Top Executive: Eric Poirier