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Addepar extends business model from software maker to player in the investments business -- a secretive project 10 years in the making

The Mountain View, Calif., firm registers a broker-dealer then rolls out 'Marketplace' to virtually meld five big semi-manual platforms into one smoother, more digital NTF platform of alts -- and charge a hefty toll.

Author Oisin Breen June 16, 2020 at 1:46 AM
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Eric Poirier: You would be hard pressed to get it done any faster.

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Pete Giza

Pete Giza

July 3, 2020 — 4:36 PM
I don't find this surprising. When Addepar made their announcement of their AltX acquisition I was deeply involved / focused on the private investments / alt world. I rolled out the industry's first cloud native private alts platform for one of Addepar's competitors. My immediate thought was this is a logical step in their product evolution. It's hand-in-glove fit for their enterprise and UHNW clients. With the addition of Acervus BD / marketplace to Artivest acquisition a couple of years ago and soon to be addition of iCapital it just rounds it all out. Strategic moves like these will serve to distance them from their competitors. With the exception of WealthSite and Private Wealth Systems, most of Addepar's competitors do not have the level of sophistication to support management of private assets. If your core tech wasn't designed to handle private assets to begin with you have a problem. The only viable solution is subscribing to a service that has the expertise and API integration capability. Whether by tactical accident or strategic planning over the past three years, it's an expected genius move on their part. Pete Pete Giza CMO/CPO AdvisorPeak

Related Moves

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

Mentioned in this article:

Portfolio Management System
Top Executive: Eric Poirier

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