Addepar Exceeds $2.5 Trillion in Assets on its Platform, Fueled by Record Client Growth

Former Valor Equity Partners executive and Salesforce alum David Obrand joins as President to expand client value and scale Addepar's business globally

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Addepar

Apr 08, 2021, 11:00 ET

MOUNTAIN VIEW, Calif., April 8, 2021 /PRNewswire/ -- Addepar, a leading technology platform for wealth management, today announced that assets on the platform have increased to more than $2.5 trillion, adding more than $15 billion in assets a week on average since mid last year. The company had its strongest year on record in 2020 across all key metrics including client and revenue growth, user and firm engagement, and connecting its vibrant community. Addepar now serves more than 600 of the world's top family offices, RIAs and large financial institutions across more than 25 countries.

Addepar also announced that David Obrand has joined the company full-time as President. He will oversee all aspects of Addepar's go-to-market strategy and execution, scaling its client-centric business by adding further value to existing clients and partners, and thoughtfully expanding that business into adjacent markets and geographies. David began serving on Addepar's Board of Directors in 2018 as an executive at Valor Equity Partners, where he will remain an advisor. As part of the company's global expansion, Addepar will open its first office outside the U.S. in 2021 in Edinburgh, Scotland. Addepar plans to add 15 new Scotland-based employees to its R&D team, building on its decade-long investment in research and development efforts.

"Addepar is aiming higher and moving faster in order to maximize the impact of the world's capital. Our clients use Addepar to give each of their clients a complete, timely and accurate understanding of what they own, where they own it, what it's worth, and what they're exposed to. David's proven record as an extraordinary leader in delivering outstanding client outcomes using technology- and data-fueled innovations will take our business, our clients and our partners to a whole new level. We couldn't be more pleased to welcome him to the Addepar team," said Addepar CEO Eric Poirier. "It took us 9 years to get to our first $1 trillion in assets on Addepar, and 2 years to add our second trillion - a milestone that we achieved in August of 2020. In the six months since then, we have added another $500 billion while also scaling our client footprint faster than ever. This massive acceleration underscores Addepar's strengths in delivering a modern, cloud-based digital experience that's available to advisors and clients alike. These natural advantages - especially during volatile markets and when the majority of people are working from home - have enabled us to compound our growth in the markets we have served for years, and ideally position us to enter new segments and geographies."

"Given the operational focus of Valor, I've seen firsthand how Addepar is primed to become the de facto platform for global wealth advisors. What's more, I have a deep connection to the mission and full confidence in the team to make this a reality. Ultimately, the company is in a unique position where both the massive market opportunity and technology solution are aligned, something that in my experience, only comes around once in a decade on this scale," said Addepar President David Obrand. "I'm thrilled to join as President as we become the platform bringing transparency into the world's more than $225 trillion of investable assets."

Addepar added nearly 150 new clients in the last year -- spanning across family offices, RIAs and large financial institutions -- among which the company is pleased to welcome WE Family Offices, Bartlett Wealth Management, and MG Capital.

"Addepar's reporting services are a natural fit for Bartlett. Their forward-looking approach aligns with two of our core values: to deliver a superior client experience while continuing to look ahead for improvements that can be made to client service and operations. Addepar's efficient and sophisticated platform will offer leading-edge reporting for our clients and provide a solid foundation for Bartlett's continued growth," said Kyle Pohlman, Managing Director of Support Services, Management Committee Member and Partner, Bartlett Wealth Management.

Addepar also announced that Focus Financial Partners firm, Connectus Wealth Advisers, a global consortium of client-centric wealth management advisers, has chosen Addepar as their strategic partner of choice for reporting solutions for Connectus advisers.

Driven by a shared commitment to equipping fiduciary wealth managers with innovative solutions and best-in-class technology, Rajini Kodialam, Co-Founder, Board Member and Chief Operating Officer, Focus Financial Partners added, "Addepar is a proven leader in adviser technology, and they have been a great partner to Focus as we have built our business to the scale and international reach we have today. As Connectus expands its presence outside the U.S., it is essential that we collaborate with an industry leader that can scale and serve the evolving needs of Connectus clients. Addepar's reputation and platform allow us to attract and serve a broad range of end clients from high-net-worth to family office clients globally."

To learn more about Addepar, please visit https://addepar.com/

About Addepar
Addepar is a wealth management platform that specializes in data aggregation, analytics and reporting for even the most complex investment portfolios. Founded in 2009 by Joe Lonsdale, who currently serves as an active Chairman of its Board of Directors and General Partner at 8VC, the company's platform aggregates portfolio, market and client data all in one place. It provides asset owners and advisors a clearer financial picture at every level, allowing them to make more informed and timely investment decisions. Addepar works with hundreds of leading financial advisors, family offices and large financial institutions that manage data for over $2.5 trillion of assets on the company's platform. In 2020, Addepar was named as a Forbes Fintech 50 company and honored as a member of the CB Insights Fintech 250. Addepar is headquartered in Silicon Valley and has offices in New York City and Salt Lake City. All brokerage services offered through Acervus Securities Inc., member FINRA / SIPC.

SOURCE Addepar