In a recent development, STP Investment Services (STP) has acquired WealthSite. With the acquisition, STP will now manage more than $400 billion in assets. It will also improve its cloud-based BluePrintTM platform, which gives clients and end investors the analytics, reporting, and digital experiences they need to compete and do well.
When it comes to meeting the needs of its customers, STP puts service first and is committed to constantly improving its technological infrastructure, which is the best in the business. STP will be better equipped to meet the needs of single and multi-family offices, traditional wealth advisory companies, and ultra-high-net-worth (UHNW) clients with the addition of WealthSite's accounting and performance engine, extensive reporting, and portfolio management capabilities.
Russell Burns, Co-Founder and Chief Executive Officer of WealthSite said, "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." He further added, "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."
(Source: Business Wire)
Adding to this, Patrick Murray, Chief Executive Officer and Founder of STP stated, "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." He further expressed, "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."
(Source: Business Wire)
WealthSite's reporting system helps clients tackle current and future difficulties by being customizable to each firm's needs. By assisting customers in perceiving their overall wealth more simply and accurately, advisors can focus on having more insightful client interactions and scaling their practices.
About STP Investment Services
STP Investment Services is a collaborative partner that gives investment managers, funds, and plan sponsors scalable, transparent middle and back-office solutions. It is an international company with fully-owned offices in the United States and India. The company offers a wide range of services for the asset management industry, including the ability to handle all asset classes and meet changing business needs.