Addepar means to be the only technology platform RIAs will ever need -- and has MIT minds and PayPal money to back it up

Written by Kelly O'Mara, RIABiz Friday, 15 June 2012

Addepar’s mission statement, laid out on its website, is relatively straightforward: “We are poised to revolutionize the wealth management industry by creating a new standard for financial technology.”

Planning to revolutionize the financial advisor industry is not new. But with 65 employees, extensive backing from venture capitalists such as Peter Thiel and David Blumberg, and demos that have wowed all the advisors who’ve seen them, Addepar LLC might actually do just that. One high profile believer is Iconiq, the newly formed RIA serving Mark Zuckerberg and other Facebook execs. See: How the Facebook IPO is creating the mother of all RIAs, Iconiq, and what an in-your-face it is for Wall Street.

“It’s a cloud solution that has multilevel data on mobile devices and offers on-demand access to anything and everything,” says Bill Winterberg, principal of Dallas-based FPPad.com. Read More..