After joining Wealthspire Advisors roughly a year ago from the world of private banking, Mike Santo, Managing Director, noticed a common theme in portfolio discussions: many clients don’t feel like they have a firm grasp on their overall asset allocation.
Similarly, Mike Bueti, CFP®, AVP, Advisor, who transitioned into an advisory role after years of working in portfolio management and reporting, brings firsthand knowledge of how data complexity can stand in the way of clarity. His experience using sophisticated portfolio aggregation and reporting tools gives him a unique lens into how technology can bring order to complex situations.
A few weeks ago, both Michael Santo and Michael Bueti met with a prospective client whose sentiments summarized something we hear all the time:
“To be honest, I don’t know exactly what my total asset allocation looks like. I have an account with a friend who’s pretty aggressive, someone who manages my muni bond portfolio, cash at a few banks, a portfolio with a broker I met 15 years ago, private investments with multiple managers, and a couple of old IRAs I haven’t looked at in 10 years. Oh, and my spouse has a few accounts too. Can you help me simplify this without opening and closing all of my accounts?”
Sound familiar? It probably does because for many of the clients we work with, wealth hasn’t accumulated in a single account or with a single firm. It’s been built over time, across multiple institutions, advisors, and investment strategies.
After nearly 30 years of combined portfolio management experience, we’ve learned that the most challenging part of wealth management isn’t always performance – it’s clarity. Most clients don’t need more accounts or strategies; they just need a way to see everything in one place and feel confident that it’s all being managed with their goals and objectives as the top priority. That’s where our advanced portfolio and reporting platforms deliver. It brings structure and simplicity to what can otherwise feel overwhelming.
What technology does our team use?
Our team leverages a powerful data aggregation and reporting platform designed specifically for high‑net‑worth individuals, families, and institutions. With this, we pull together information from hundreds of sources, including brokerage accounts, private investments, real estate holdings, retirement plans, and family trusts to organize it all in one place.
Industry leaders and major publications have noted how reliable data aggregators like ours add value to client relationships, and how AI and tech are helping advisors deliver more value across planning, reporting, and relationship management.1
Why It Matters
When assets are scattered, a lot might slip through the cracks:
- You may think you are properly allocated, but you may be allocated more aggressively than your risk tolerance should allow for or not aggressively enough
- You might be more concentrated in a single position than you realize
- You might miss timely opportunities to rebalance or realize gains/losses
It’s hard to make confident financial decisions when you’re unsure what you’re working with. Our data aggregation and portfolio management platform changes that. Among other things, we use it to:
- Create a comprehensive overview of your total investment portfolio
- Deliver customized, clear, and digestible reports that help you always know where you stand. This may also help you to ask better questions.
- Monitor performance, cash flows, capital calls, and private investment activity
- Track ownership across trusts, entities, and family members
How This Gives Us an Edge in a Highly Competitive Industry
When we have better data, we can do more for you to:
- Build and manage portfolios aligned with your overall risk tolerance, goals, and objectives
- Track asset allocation drift over time and rebalance with intention
- Structure portfolios with real tax‑awareness
- Help you plan, gift, or distribute assets with more confidence
Leveraging our trusted technology serves to enhance every part of the advisor‑client relationship. Let’s consider the following scenarios that we sometimes experience:
Scenario 1: Kevin
The Concern: For Kevin, personnel turnover and performance are the primary concerns with his current advisors. The lack of transparency and coordination amongst providers led to an asset allocation that was misaligned with his expectations and required major rebalancing. His advisors displayed “tunnel vision” and did not consider Kevin’s assets outside of those they managed.
How We Can Help: Wealthspire was able to help Kevin and efficiently onboard all his assets across our data aggregation and reporting platform. After reviewing the family’s full financial plan with a holistic view of Kevin’s assets, Michael Santo and Michael Bueti rebalanced the portfolio to best match Kevin and his family’s goals and values. Not only are Kevin’s assets in order, but he now feels comfortable putting his trust in us to always consider the bigger picture when it comes to his finances.
Scenario 2: Claire
The Concern: Claire currently only hears from her advisor once a year, receives a 300-page statement each January, and must constantly reach out to them to schedule meetings or updates. She feels disconnected from her advisor, and therefore her assets.
How We Can Help: Frustrated, Claire meets with Michael Bueti and Michael Santo, and they explain how the team at Wealthspire leverages technology that sends monthly portfolio updates, tracks asset allocation drift due to manager activity or market movement and even highlights cash flows and distributions from accounts in one place. Turns out, the service Claire was looking for is not out of reach, and the traditional communication style of the wealth management industry did not fit her needs anymore.
Why We Chose our Data Aggregator
Our trusted data aggregator reflects our philosophy: responsible relationships and service innovation lead to clarity for our clients.
We want clients to feel in control and to know that we are always looking out for them, even when life gets complicated. Employing our cutting-edge technology is one of the ways we deliver on that promise. It’s how we turn complexity into clarity, and how we help clients move forward with confidence.
Let’s Simplify It Together
If your financial life feels scattered, you’re not alone and there are effective solutions. We’d love to show you how our portfolio aggregation and reporting capabilities can bring everything together into one clear, meaningful picture. Let’s have a conversation.
Wealthspire Advisors is the common brand and trade name used by Wealthspire Advisors LLC and its subsidiaries, separate registered investment advisers and subsidiary companies of NFP Corp., an Aon company. ©2025 Wealthspire Advisors.
This material should not be construed as a recommendation, offer to sell, or solicitation of an offer to buy a particular security or investment strategy. The information provided is for informational purposes only and should not be relied upon for accounting, legal, or tax advice. While the information is deemed reliable, Wealthspire Advisors cannot guarantee its accuracy, completeness, or suitability for any purpose, and makes no warranties with regard to the results to be obtained from its use.
Please Note: Limitations. The achievement of any professional designation, certification, degree, or license, recognition by publications, media, or other organizations, membership in any professional organization, or any amount of prior experience or success, should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results or satisfaction if Wealthspire is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Wealthspire Advisors by any of its clients or a third party.
Registration of an investment advisor does not imply that Wealthspire Advisors or any of its principals or employees possess a particular level of skill or training in the investment advisory business or any other business.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
[1] Source: Barron’s - A Founder of Palantir and Addepar Talks About His Wealth Management Start-Ups - Barron's
