HB Wealth, a fee-only independent wealth management firm with $30bn in assets under management, has expanded its partnership with Arch, a private markets operations platform, to streamline the management and reporting of its private markets portfolios.
The firm, which allocates more than $5bn of its total AUM to private markets, has deployed Arch as a core platform to automate document collection and reporting across more than 10,000 holdings. The technology gives HB Wealth’s advisers real-time visibility into performance across private equity, private debt, and private real estate investments.
Through Arch, HB Wealth has reduced the administrative burden associated with handling K-1s and investment statements at scale, while improving collaboration with CPAs, clients, and broader advisory teams. Prior to adopting Arch, the firm investigated developing its own solution, trialling approaches ranging from spreadsheet-based workflows to internally built tools, before determining that no in-house option could keep pace with the growth of its private markets programme.
HB Wealth director of performance reporting Sean Hendler said, “Private markets have long been a central component of our investment strategy. Before implementing Arch, managing the fragmented information associated with these holdings was extremely time-intensive, and as our portfolios continue to grow, that challenge has increased accordingly. Arch has been critical in helping us streamline this process and manage the complexity efficiently at scale.”
Arch co-founder and CEO Ryan Eisenman said, “As HB Wealth strategically expands its geographic footprint, we’re thrilled to provide a solution that scales as fast as their ambition, driving margin expansion and high-touch client services as they grow.
“Independent advisors use private markets as a tool to provide diversification, higher returns, and differentiation for their clients; they then encounter the increased work it takes to make, manage, and understand alternative investments. HB Wealth has leveraged a large suite of Arch solutions, covering K-1 collection, 1099s, capital call automation, CPA access, reporting, and investment research for evaluating new opportunities. We look forward to continuing to co-develop client-centric solutions with the HB Wealth team.”
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