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Morgan Stanley Partners with Addepar

January 11, 2017

Morgan Stanley is the first large brokerage to partner with data-aggregation startup Addepar, Bloomberg writes.

Addepar’s platform lets advisors get a full picture of an ultra-wealthy client’s overall financial holdings spread across disparate systems and various vehicles, the news service writes.

The platform’s popularity has led assets on its platform to double to $560 billion last year, Bloomberg writes. It’s also convinced banks that they’re “at a disadvantage” when it comes to managing money for the ultra-wealthy, Eric Poirier, the firm’s CEO, tells the news service. Previously, the tech firm that counts tech billionaire Peter Thiel among its investors worked with independent advice practices and family offices catering to the ultra high net worth community, according to Bloomberg.

Morgan Stanley’s largest advisor teams are now using Addepar’s platform, Poirier tells Bloomberg.

Addepar is also in talks with other wirehouses, Poirier claims.


For large brokerages, partnering with a startup like Addepar means potentially keeping employees who may have considered going independent in part because such tools are available to them elsewhere, he tells Bloomberg.

Meanwhile, Chris Randazzo, the brokerage’s chief information officer, says in a statement that Addepar’s “innovative platform” will let its advisors better help clients, according to the news service.

Morgan Stanley isn’t the first large firm to partner with a startup for services it opts not to create in house despite the thousands of programmers it employs, Bloomberg writes. Last year, JPMorgan signed with electronic trading provider Virtu Financial and online lending firm On Deck Capital, according to the news service.

By Alex Padalka
  • To read the Bloomberg article cited in this story, click here.