Addepar added nearly 150 new clients in the last year - spanning across family offices, RIAs and large financial institutions. Clients included WE Family Offices.
Addepar, the wealthtech platform, has appointed David Obrand as president - a new role for the firm. He has already served on its board as an executive at Valor Equity Partners, a firm that has invested in the business. He remains an advisor at Valor.
Separately, Addepar said that assets on the platform have increased to over $2.5 trillion, adding more than $15 billion in assets a week on average since the middle of 2020. Addepar now serves more than 600 of the world’s top family offices, RIAs and large financial institutions across more than 25 countries.
As part of the company’s global expansion, Addepar will open its first office outside the US this year – in Edinburgh, Scotland. Addepar plans to add 15 new Scotland-based employees to its R&D team.
“It took us nine years to get to our first $1 trillion in assets on Addepar, and two 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,” Addepar chief executive, Eric Poirier, said.
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.
In November 2020, Addepar announced that it had closed a $117 million Series E funding round, led by WestCap Group.