With its build first objective, Addepar has quickly attracted hundreds of billions in assets and is now targeting the lucrative RIA market
Addepar, the Silicon Valley tech startup, spent four years building the next-generation portfolio management platform.
Now the company is ready to solicit business from RIAs with its premiere analysis and reporting capabilities.
I recently sat down with Addepar Chief Strategy Officer Mike Paulus (who held the title of president up until June 2013) to clear some of the mystery surrounding the tech startup.
Addepar originated with the goal of solving founder Joe Lonsdale’s frustration with managing his own personal wealth from his success at PayPal and Palantir.
“[Lonsdale] looked at the tools that were available to him and really didn’t see any tools that met his need,”said Paulus.
Lonsdale founded Addepar in 2009 with the goal of creating “modern, well-built technology” that was capable of addressing the intricacies of a complex portfolio. Non-public and non-traded assets including private equity, committed capital, and hard assets are examples of holdings that can be difficult to manage with existing technology.
What About RIAs?
Four years later, Addepar’s robust platform is available to registered investment advisers.
“Some of our happiest clients are RIAs,” said Paulus.
“A lot of our workflows around billing and reporting are just better suited to RIAs,” he added.
Watch the entire interview to learn more about Addepar’s capabilities, how the company retains top talent in Silicon Valley’s competitive environment, and details on pricing.