STP Investment Services Acquires Leading Family Office and Wealth Advisory Fintech Solution, WealthSite

STP Investment Services Acquires Leading Family Office and Wealth Advisory Fintech Solution, WealthSite

The acquisition brings STP’s AUA to over $400B and will accelerate the technology roadmap of the firm’s proprietary BluePrint™ platform

By Joel Bruckenstein, CFP

STP Investment Services (STP), a global, technology-enabled, end-to-end investment operations service provider, today announced it has acquired WealthSite, a firm that provides a fully integrated and highly customized accounting, portfolio management, reporting and analytics platform to single and multi-family offices, traditional wealth advisory firms and money managers serving ultra-high-net-worth (UNHW) clients. The acquisition brings STP’s total assets under administration to over $400 billion and will propel forward the technology roadmap for STP’s proprietary, cloud-based BluePrint™ platform. BluePrint arms clients and end investors with the critical analytics, reporting and premier digital experiences needed to compete and grow in today’s dynamic market.

STP embraces a service-first mentality, continuously innovating its best-in-class technology platform to meet evolving clients’ needs. The addition of WealthSite’s accounting and performance engine, robust reporting and portfolio management capabilities will enhance STP’s ability to solve the challenges of single and multi-family offices, traditional wealth advisory firms and ultra-high net worth clients.

“Our team has spent years building and fine-tuning nuances specific to these advisors and clients, including balance sheet reporting and complex ownership accounting, in addition to alternative and esoteric assets,” said Russell BurnsWealthSite’s Co-Founder and Chief Executive Officer. “We believe blending our foundational elements with STP’s groundbreaking BluePrint™ platform creates a compelling solution for family offices and ultra-high-net-worth investors not available anywhere else on the market.”

“WealthSite’s customizable, cloud-based solution was purpose-built to address the most sophisticated accounting and reporting demands, such as private asset classes and multi-layered ownership structures,” said STP’s Chief Executive Officer and Founder, Patrick Murray. “By adding the firm’s experienced professionals and best-of-breed reporting solutions to our existing capabilities, we’ll not only be able to accelerate the BluePrint technology roadmap, but also reinforce our commitment to providing high-touch operational outsourcing services that enable family offices and wealth advisory firms to navigate and deliver against the complex needs of the clients they serve.”

WealthSite’s reporting technology empowers clients to solve both current challenges and any future requirements, offering customization to meet each firm’s unique needs. By providing clients with what they need to visualize a total wealth snapshot more clearly and accurately, they are free to focus on having more insightful client interactions while also solidifying the foundation to scale their advisory practices.

“Beyond the technology pieces aligning, perhaps the most important component of any two firms joining is the cultural fit,” said WealthSite’s Managing PartnerBernie Holtgreive.“It was apparent early on that we held the same vision and ethos in that regard. With BluePrint’s industry-leading capabilities, married with our technology, together we can deliver everything family offices, wealth advisory firms and their clients demand.”

Joel Bruckenstein
Joel Bruckenstein
Joel P. Bruckenstein, CFP®, is Publisher of the T3 Tech Hub (formerly the T3 newsletter) and the producer of the Technology Tools for Today (T3) Advisor Conference, the only annual technology conference for independent advisors, as well as the Technology Tools for Today (T3) Enterprise Conference. He also hosts other technology summits in partnership with thought leaders in the financial services industry (e.g., Brian Hamburger of MarketCounsel) and his own by-invitation-only fintech summit every summer. In 2020, Bruckenstein will produce for the first time a new one-day intensive called T3 Cyber University. Bruckenstein is an internationally acclaimed expert on applied technology as it relates to the financial service industry. He is the co-author of three books: Virtual Office Tools for a High Margin Practice, Tools and Techniques of Practice Management, and Technology Tools for Today’s High Margin Practice. Bruckenstein’s monthly technology columns appeared in Financial Advisor magazine and Financial Planning magazine for many years. In addition, he works in tandem with industry influential Bob Veres, publisher of Inside Information, to produce an annual technology survey for the financial planning community. Bruckenstein accepted the fifth annual Leadership Award bestowed by Bob Veres' Insider's Forum, a conference that brings together the leading figures of the financial planning profession during a main stage presentation at the Insider's Forum held September 6-8, 2017 in Nashville, TN. Bruckenstein has for more than twenty years advised financial service firms of all sizes on improving their technologies, processes and workflows. For more information about Joel Bruckenstein and the services his firm offers, please visit www.JoelBruckenstein.com.

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