M&A: Consolidating 40+ family offices into one operating model

The situation

Every office arrived with its own portfolio system, custodians, fee schedules, billing habits and onboarding process. Across 40+ offices that meant seven different portfolio systems, 100+ custodians, duplicated work, uneven controls and revenue slipping through the gaps.

What I did

• Moved offices off seven portfolio management systems used across the group onto Addepar, migrating historical holdings, historical performance, client data and fee and billing data into Addepar and Salesforce.
• Supported custodian consolidation: Charles Schwab is now the dominant custodian in the operating model, with the group consolidating toward Schwab and Fidelity and a limited set of custodians for the remaining business.
• Built a central billing function: standard fee schedules, one calculation method and a single collection process.
• Reviewed wealth management agreements against the future fee model and sized the impact for every client and advisor before anything changed.
• Designed the future processes across Salesforce, Addepar and internal tools, with billing, revenue and onboarding controls built in, then set up and trained the central teams that run them.