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
WEST CHESTER, PA, December 15, 2022–(BUSINESS WIRE)–STP investment services (STP)a global, technology-enabled, end-to-end provider of investment operations, today announced that 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 advance the technology roadmap for STP’s proprietary, cloud-based BluePrint™ platform. BluePrint arms clients and end investors with critical analysis, reporting and premium 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 customer needs. The addition of WealthSite’s accounting and performance engine, robust reporting and portfolio management capabilities will enhance STP’s ability to address 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, as well as alternative and esoteric assets,” said Russell Burns, WealthSite’s co-founder and CEO. “We believe blending our fundamentals with STP’s groundbreaking BluePrint™ platform creates a compelling solution for family offices and ultra-high net worth investors that is not available anywhere else in the market.”
“WealthSite’s customizable, cloud-based solution was purpose-built to meet the most sophisticated accounting and reporting requirements, such as private asset classes and multi-tiered ownership structures,” said STP’s CEO and founder, Patrick Murray. “By adding the firm’s experienced professionals and best-in-class reporting solutions to our existing capabilities, we will 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 to navigate and deliver against the complex needs of the customers they serve.”
WealthSite’s reporting technology empowers clients to address both current challenges and potential future requirements, offering customization to meet each firm’s unique needs. By giving clients what they need to visualize a snapshot of total wealth more clearly and accurately, they are freed to focus on having more insightful client interactions while strengthening the foundation for scaling their advisory practice.
“In addition to technology alignment, perhaps the most important component of two firms joining is the cultural fit,” said WealthSite’s Managing Partner, Bernie Holtgrave. “It was clear early on that we shared the same vision and ethos in that regard. With BluePrint’s industry-leading capabilities, married to our technology, together we can deliver everything family offices, wealth advisory firms and their clients require.”
For more information about BluePrint™click here.
About STP Investment Services
STP investment services is an award-winning technology-enabled services company providing front, middle and back office solutions to investment managers, funds, family offices, wealth managers and plan sponsors that deliver the service, software, expertise and trust needed to focus on their core business objectives. STP offers a wide range of services and SaaS offerings for the financial industry with the ability to process all asset classes and meet ever-evolving business requirements. STP has been recognized several times for its strong corporate culture by the Philadelphia Business Journal and Inc. Magazine, as well as being named outsourced supplier of the year by the Financial Technologies Forum (FTF) twice in a row. With more than 270 employees worldwide, STP serves and delivers solutions to clients representing more than $400 billion in assets under management. Visit STP investment services and follow us further LinkedIn and Twitter.
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