Addepar will provide HSBC US Private Banking with important tools, such as portfolio views and in-depth analytics, to help optimise the client experience, and help enable improved reporting on private and alternative investments
HSBC US Private Banking selects Addepar. (Credit: malcolm swallow from Pixabay)
HSBC Private Banking has selected Addepar, a wealth management technology platform for investment advisors, as its consolidated client performance reporting platform.
The lender’s US Private Banking unit serves local and global high-net-worth and ultra-high-net-worth clients, along with family businesses, with $65bn in assets under management.
Addepar offers advanced software and data platform for wealth and investment managers.
As the reporting platform, Addepar will provide HSBC US Private Banking with important tools, such as portfolio views and in-depth analytics, to help optimise the client experience.
In addition, it will also enable improved reporting on private and alternative investments, leveraging multi-currency capabilities, and customised reporting for sophisticated needs.
HSBC US and Americas investments and wealth solutions head Jessie Zhu said: “This new partnership with Addepar combines best-in-class technology with advanced analytics that will help us best serve our clients based around the world.”
Addepar is a software and data platform, which enables professional wealth, investment, and asset management firms to deliver more informed, data-driven investing and advice.
The company is said to have a client base comprising more than 800 of the world’s top family offices, registered investment advisors, private banks, and large financial institutions
Its platform aggregates portfolio, market, and client data for more than $4 trillion in assets, and has a presence in more than 30 countries.
The company’s open platform is designed to integrate with more than 100 software, data, and services partners to deliver a complete solution for a wide range of firms and use cases.
In addition, clients can use its marketplace, its digital experience solution offered through Acervus Securities, to access and transact in a wide range of investment products.
Addepar CEO Eric Poirier said: “Investment professionals are facing constantly shifting environments and markets as they navigate the current financial landscape, with a need for technology and quality data being more acute than ever.
“We are thrilled to partner with the forward-thinking team at HSBC to bring Addepar’s category-defining platform to their U.S. Private Banking business.
“The scalability, flexibility and security of our platform unlocks the ability for us to serve the fast-changing needs of the largest banks around the globe, and in turn, for them to provide exemplary service to their clients. We look forward to continuing to grow with HSBC in the years ahead.”