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Addepar adds RBC Wealth Management-US to its customer base

Wealth management platform provider Addepar on Wednesday announced that it has added RBC Wealth Management-US to its growing roster of clients.

RBC Wealth Management-US will be rolling out Addepar’s data aggregation and reporting platform to its over 2,100 financial advisors. Those advisors are spread across 182 locations in 42 states and represent $542 billion in client assets.

The deal will make Addepar available to all RBC Wealth Management-US advisors as well as “financial professionals” from RBC Clearing & Custody, a division of RBC Capital Markets LLC.

Addepar, already renowned for its reporting technology and alternative data aggregation, in October acquired rebalancing and trading technology provider Advisor Peak for an undisclosed amount.

Addepar announced a $150 million Series F financing round in June 2021, bringing it to a total of $475 million in funding. Its previous $117 million Series E increase was announced in November 2020.

The firm says it now has more than $3.5 trillion in customer assets on its platform, up from $2.7 trillion in June. In August 2020, it crossed the $2 trillion limit.

Addepar serves over 700 advisory firms in more than 25 countries, including family offices, registered investment advisors, private banks and large financial institutions.

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