Client Profile:
- Type: Registered Investment Advisor (RIA)
- AUM: Over $9 billion USD
Project Duration:
- 6+ months
Tags:
- RIAs
- New Instance Implementation
- Billing Implementation
- Ownership Structure Audit and Designs
Introduction:
At Elevate Advisory, we pride ourselves on delivering tailored solutions that meet the unique needs of our clients. This case study highlights our successful implementation of a new instance of Addepar for a registered investment advisor experiencing rapid growth.
Client Challenge:
The client, a newly established RIA, was onboarding clients at a rapid pace. They needed a flexible and scalable investment management solution that could be implemented quickly to provide their clients with a unique and efficient service. They sought a partner who could design, implement, and train their team on using Addepar, ensuring a smooth transition and trouble-free operation.
Our Solution:
Elevate Advisory was engaged to deliver a comprehensive solution that encompassed the following key components:
- Design and Implementation:
- Ownership Structures: We finalized the ownership structures for the client's diverse range of accounts.
- Account Onboarding: We facilitated the onboarding of accounts in Addepar, integrating data from various online custodians.
- Offline Account Management: We designed and implemented workflows for offline account management and maintenance.
- Tagging and Reporting:
- Custom Tagging System: We developed a system for tagging different accounts and securities under various custom parameters to streamline reporting and billing processes.
- Auditing Workflows:
- Performance Audits: We created auditing workflows to identify and prevent unusual performance metrics from appearing in client-facing reports and billing, ensuring the reliability of Addepar's numbers and reports.
- Training and Support:
- Team Training: We provided comprehensive training for the client's in-house Addepar team to ensure they could own and operate the instance effectively.
- Ongoing Support: We continue to offer ad-hoc consultations to assist with any issues or enhancements needed.
Results:
The project concluded successfully, with the client gaining a robust, scalable Addepar instance that met their needs for flexibility and reliability. The implementation has enabled the client to provide their clients with accurate and trusted reports and billing, significantly enhancing their service offering.
Conclusion:
Elevate Advisory’s expertise in designing, implementing, and supporting Addepar instances has proven instrumental in helping RIAs like our client navigate their rapid growth and operational challenges. Our ability to deliver customized solutions ensures that our clients can focus on their core business with confidence in their investment management systems.
For more information on how Elevate Advisory can help your organization achieve similar success, please contact us.
