Morgan Stanley partners with Addepar to see more of clients’ wealth
By Elizabeth Dilts; editing by Grant McCool | Reuters.com | January 11, 2017
Morgan Stanley is rolling out a new software platform to 20 of its top financial advisory teams to help them see more of their wealthiest clients assets.
The bank, which manages most of its technology in-house, said late Tuesday that part of its private wealth management division will use Addepar, a Mountain View, California-based technology firm that already partners with family offices and independent investment advisers.
Ultra-wealthy clients typically hold their assets in limited partnerships, family trusts or in alternative and illiquid investments spread across a number of banks and accounts.
Addepar’s platform will allow Morgan Stanley, with clients’ permission, to gather information from those various accounts in one place, and to quickly parse the data to answer individualized questions, said Addepar’s chief executive Eric Poirier…
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