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.
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
When assets are scattered, a lot might slip through the cracks:
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:
When we have better data, we can do more for you to:
Leveraging our trusted technology serves to enhance every part of the advisor‑client relationship. Let’s consider the following scenarios that we sometimes experience:
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.
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.
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.
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.
[1] Source: Barron’s - A Founder of Palantir and Addepar Talks About His Wealth Management Start-Ups - Barron's