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October 25, 2021

Addepar buys AdvisorPeak to strengthen offering for advisors

Wealth management technology platform Addepar has announced the acquisition of AdvisorPeak in a bid to strengthen its solution for advisors.

AdvisorPeak’s offers trading and rebalancing software that helps advisors in managing client portfolios.

As agreed, the AdvisorPeak team and its technology became a part of Addepar.

Notably, the deal follows a partnership where Addepar worked with AdvisorPeak on client implementations.

Addepar CEO Eric Poirier said: “As we’ve supercharged our growth to become the de-facto platform for wealth managers, we’ve listened closely to our clients. Many sought a native solution to manage portfolios at scale directly within Addepar.

“Our commitment and investment in open architecture and a vast partner ecosystem is what gives our clients the opportunity to choose the components of their overall solution. In getting to know AdvisorPeak over the last year and hearing how much our clients love their product, we saw them emerging as the winner.

“Our teams share the same mindset and values, and we saw a natural fit for their talented team and powerful technology to join forces with Addepar.”

AdvisorPeak founder and CEO Damon Deru said: “We launched AdvisorPeak with the promise to bring innovation and game-changing solutions to investment advisors. Addepar shares this same commitment and we’re excited to work together to help more advisors access powerful trading and rebalancing solutions.”

Founded in 2009, Addepar specialises in data aggregation, analytics and portfolio reporting. The platform aggregates portfolio, market and client data in one place to provide asset owners and advisors a better financial overview.

Earlier this year, the company raised $150m from D1 Capital Partners at a pre-money valuation of $2bn.

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