While the pandemic has wreaked havoc on much of the population and economy, wealth management technology provider and illiquid, alternatives aggregator Addepar has published a blog post reporting a milestone: $2 trillion in assets under advisement on its platform.
The post does not detail any downside during the pandemic and notes that the firm reported $1.7 trillion on its platform in November. Addepar has since onboarded assets at “a rate of $10 billion per week on average, even amidst extreme market volatility,” according to the blog post.
For those less or unfamiliar with the firm, the post highlights several features added over the last year, as well as positive feedback from client firms.
The Addepar wealth management platform specializes in data aggregation, analytics and reporting and serves RIAs and family offices, having launched in 2009. Among its prominent individual investors are its co-founder Joe Lonsdale (also the co-founder of Palantir Technologies) and billionaire Peter Thiel.