Software from the data aggregation company, who expects to reach $1tn of assets on platform by year end, will now be used by MS's largest's wealth management teams. Once they get at 1 trillion than this would open lots of opportunities to optimise allocation and fees...putting the revenue margins of the wealth industry further at risk.
Morgan Stanley, among the world's biggest brokerages, is partnering with a Silicon Valley startup better known for helping rivals at independent advisory firms and family offices manage the assets of the ultra rich.Software from data-aggregation company Addepar Inc. is now used by the bank's largest private-wealth teams, according to Eric Poirier, the tech firm's chief executive officer. Addepar's ability to give money managers insights into complex client holdings has fueled rapid growth, almost doubling the assets on its platform last year to $560 billion.It's the latest example of the
