Addepar, a wealth management technology platform built for investment advisors and based in Mountain View, California, has acquired AdvisorPeak, a Layton-based portfolio management platform that offers solutions including trading management and portfolio rebalancing for investment professionals.
The AdvisorPeak team and technology are now a part of Addepar, the companies said in a release.
“We are thrilled to welcome the AdvisorPeak team to Addepar. As we’ve supercharged our growth to become the defacto platform for wealth managers, we’ve listened closely to our clients. Many sought a native solution to manage portfolios at scale directly within Addepar,’ said Addepar CEO Eric Poirier. “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. We’re all eager to continue building together and delivering lasting value to our clients.”
“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,” said Damon Deru, founder and CEO of AdvisorPeak. “We’re delighted to be a part of the Addepar team, which is relentlessly focused on delivering cutting-edge tools to enrich client outcomes. We look forward to continuing to develop our premier trading and rebalancing solutions to meet the needs of today’s financial advisors.”
Terms of the transaction were not disclosed.
