WEST CHESTER, PA — STP Investment Services (STP) announced it recently 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 Burns, WealthSite’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 Partner, Bernie 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.”
For more information about BluePrint™, click here.
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