Case study

How Venturi Private Wealth scaled to $3.6B with a four-person investment team

Venturi Private Wealth is an independent, fee-only registered investment advisory firm and multi-family office serving high-net-worth individuals and families from offices in Austin, Texas and Oklahoma City. Founded in 2015, the firm prides itself on customization, building clients’ bespoke strategies across investment management, financial planning, tax strategy, estate planning and liquidity event planning. 

As the firm looked to extend its offering deeper into family office space, it faced increasingly complex multi-custodian portfolios and cross-generational structures. It soon became evident that its legacy software needed to be updated to increase scalability and improve client experience. 

To meet that complexity without scaling headcount, Venturi built its operations around a best-in-class technology ecosystem, centered on Addepar. Offering a single source of truth for portfolio data, analytics and reporting, Addepar’s open architecture allows the firm to integrate leading external solutions — most notably the rebalancing and trading platform, RedBlack — without the constraints of a closed, “all-in-one” legacy system. 

The result is $3.6 billion in assets across 2,000 active accounts, managed by a four-person investment team.

FIRM

Venturi Private Wealth

LOCATIONS

Austin and Oklahoma City, United States

EXECUTIVE

Russ Norwood, Co-Founder and CEO

YEAR ESTABLISHED

2015

YEARS ON ADDEPAR AND REDBLACK

2

TEAM MEMBERS

38

INTEGRATIONS

RedBlack
Opto

THE CHALLENGE

Simplifying complex investment reporting

As Venturi’s client base grew, the firm found its legacy software was no longer advanced or flexible enough to handle the complex balance sheets, private funds and multi-custodian data that family office clients required. 

“We needed a more modern system, a more flexible reporting system,” says George Newman, Portfolio Manager, Venturi. “We were looking for a system that connects more easily to other parts of our tech stack — a tool that allowed very easy integrations.”

We needed a more modern system, a more flexible reporting system

George Newman, Portfolio Manager, Venturi Private Wealth

Bringing efficiencies to rebalancing 

Venturi was also keen to explore its rebalancing process. Rather than offering a global system, the firm’s legacy software left the team with a granular, manual process that required making each allocation change individually. Each variation in a client’s allocation required creating an entirely separate model. Over time, this resulted in hundreds of redundant models, all representing small permutations of the same strategy.

“On the trading side, we wanted to find something that was going to be more scalable in terms of making asset allocation changes,” says Westin McEntire, Director of Investments, Venturi. “Before, we had to do so one by one. When you think about all of the customizations — even just rebalancing to a new equity weight or rebalancing between stocks and bonds —they became arduous, time-consuming tasks that required a lot of manual calculation to get right.”

Streamlining manual data entry

A rise in alternative and private investment data presented another challenge for the firm. With no automated feed to rely on, the team was manually updating valuations for private equity holdings. As the firm’s family office clients grew — and thus its data aggregation needs — the choice became clear: add headcount or upgrade its technology.

With Addepar, Venturi Private Wealth has
experienced:

$3.6B

in assets under management

2,000

active accounts
managed by a four-person investment team

THE RESULT

Operational efficiency at scale

Addepar, alongside its integration with RedBlack, has transformed the investment team's operational efficiency and trading capabilities. “It’s probably had the biggest impact,” McEntire explained. “RedBlack has provided our trading platform with the flexibility and nimbleness that we need to keep up with allocation and rebalancing changes at scale. This gives us the ability to grow with existing resources.” 

This efficiency stems from RedBlack’s ability to make a single allocation change and have it flow cleanly through every permutation of a model — something that previously required updating hundreds of individual versions. Venturi can also handle custom allocations with ease, even when clients fall outside generalized models or require asset location-specific structures.

And when it comes to data aggregation, the management of alternatives and general operations, the firm has noticed equally strong outcomes as a result of Addepar’s data and investment management solutions. The result is significant scalability without the need for increased headcount.

“We run a really tight investment team that benefits from robust solutions like Addepar and RedBlack,” says McEntire. “We do everything from private fund administration to reporting to family office services. But, we haven’t had to scale personnel. We have 2,000 live accounts with a four-person team. That's tremendous operating leverage at our firm, as a result of our tech freeing up time for us to focus on alternative due diligence.”

The open architecture that Addepar has -- to me, it's sort of a non-negotiable.

George Newman, Portfolio Manager, Venturi Private Wealth

Family office sophistication

The results of onboarding Addepar and RedBlack haven’t just improved how Venturi operates internally — they’ve changed what the firm can offer clients and prospects. For example, clients now have access to the Addepar Client Portal, which mirrors the firm’s core reporting in a dynamic, timely format. “I think we originally set it up with the goal of mimicking a lot of what we show in our core reporting,” says Newman. “But in a more dynamic way, because you're not fixed to the date that a PDF report was run.”

The depth of reporting has also increased, with the firm better equipped to process, analyze and report on alternatives. “Addepar does a much better job incorporating our alternative funds and outside alternative funds. All these things coming together means we can offer something that we couldn’t offer to clients two years ago,” adds Newman. This is also translating into new business, with a sophisticated tech stack built for the demands of high-net-worth family office clients.

“I think if your technology means you can give better quality reporting that's more modern, clear, concise and readable for clients, that becomes a real differentiator,” says Newman. “So we're going to try to continue to be on the cutting edge of new technology in the wealth space.”

A best-in-class tech stack

Finally, Addepar’s open architecture and ease of integration is fundamental to Venturi’s ability to build a leading, connected tech stack, rather than accepting the limitations of an “all-in-one” solution.

Addepar’s direct integration with RedBlack, for example, allows Venturi to leverage the trading capabilities it needs, with Addepar at the foundation. Addepar acts as a single source of truth for each client’s data and target allocations while RedBlack executes against them. “We use RedBlack as an integral part of our overall asset allocation tool to keep client accounts in alignment with their target allocations that we have set at Addepar,” says McEntire. 

This connectivity with RedBlack also supports more nuanced workflows — from custom allocations to multi‑tier model variations — without adding operational burden.

Connectivity and easy integrations have become the firm’s benchmark for technology decisions going forward. As Newman puts it: “The open architecture that Addepar has — to me, it’s sort of a non-negotiable.”