MOUNTAIN VIEW, Calif., April 9, 2020 /PRNewswire/ -- Addepar, a leading technology platform for wealth management, today announced Addepar Assurance, a program designed to make it easier for new clients to gain access to Addepar's platform during challenging market conditions. The program provides a credit for new clients to offset their cost of Addepar until the negative impact of market conditions on their business subsides. In a first of its kind offering, the duration of the credit provided through Addepar Assurance will be directly linked to an RIA firm's choice of benchmarks -- either the firm's assets under management, the S&P index or the CBOE Volatility index.
Addepar's asset-based pricing model already closely aligns Addepar with its clients' interests. Addepar Assurance takes this a step further by combining a credit, accelerated implementation timeframe, and access to the Addepar community and best practices. The program aims to arm RIAs with the technology and data-driven insights they need right now to meet increasing client demands.
"COVID-19 is causing significant economic and operational disruption for the RIA industry," said CRO, David Lessing. "We're fielding increased inquiries from RIAs who are struggling to address client needs with their current tools. We've benefited from a strong trajectory of growth over the past decade and want to take the opportunity to reinvest in RIAs, and in turn their clients, when they need it most."
Addepar was founded in the wake of the 2008 financial crisis and was specifically built to provide insights into the most complicated portfolios and assets, especially during times of economic volatility. Advisors have driven a record 400% usage increase on the platform over the last several weeks, underscoring the value it is providing to existing clients.
"Even under normal circumstances, changing your wealth management platform is a big decision. Investing resources and capital in new technology can be daunting, especially amidst the current market uncertainty," said Jeff Schoff at Tiedemann Advisors. "However, our investment in Addepar has been invaluable, making it easy for us to manage volatility and communicate effectively with our clients and advisors while working remotely. At a time when many in the industry are overburdened by subpar technology, seeing Addepar rise to the occasion and make this offer available to RIAs is refreshing."
Addepar Assurance is available for U.S.-based RIAs with up to $25 billion in AUM. The program applies to new contracts signed between April 1, 2020 and June 30, 2020. The program credit offers up to 50 percent of the cost of an Addepar license, and the amount of the credit depends on the size and complexity of the firm. Credits will apply until the earlier of up to 18 months following contract signing or until the achievement of a new client's benchmark of choice (client's AUM recovers to its 2019 average, the S&P 500 index remains above 2850 for 30 days or the CBOE volatility index remains below 25 for 30 days).
Addepar is a wealth management platform that specializes in data aggregation, analytics and reporting for even the most complex investment portfolios. 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 $1.7 trillion of assets on the company's platform. In 2020, Addepar was named as a Forbes Fintech 50 and in 2018 received Morgan Stanley's Fintech Award for making a significant impact on the firm's mission of continuous innovation. Addepar is headquartered in Silicon Valley and has offices in New York City and Salt Lake City.