Total Rebalance Expert acquires PowerAdvisor's portfolio management software

Total Rebalance Expert on Friday announced the acquisition of PowerAdvisor’s portfolio management software suite from Cornerstone Revolutions. The combination of Total Rebalance’s portfolio rebalancing platform with PowerAdvisor’s system will create a complete portfolio management solution for registered investment advisers, Total Rebalance chief executive Sheryl Rowling said. Because the strategic acquisition has created a complete solution, no other acquisitions are planned at this time, she said. Ms. Rowling declined to provide financial terms of the deal. Total Rebalance will grow to 12, from six, employees after the acquisition, and the firm will double its client base to about 200 firms and 600 financial advisers, she said. Total Rebalance will always be an open platform that integrates many portfolio accounting software products, but the firm is also working on its own software innovations, Ms. Rowling said. As part of the combination of the two software and service companies, PowerAdvisor will be rebranded as Total Portfolio Expert, or tPx. PowerAdvisor users won’t see any change to their access or usage, as the technology and people supporting PowerAdvisor will continue as part of Total Rebalance. “I have my own independent RIA firm, and I want to give back to the profession,” Ms. Rowling said. “PowerAdvisor is a program that needed to partner with another firm to give it direction and growth potential.” Clients who use both platforms will receive “substantial” discounts, Ms. Rowling said. “While sad that Cornerstone Revolutions will no longer be participating in the future of our clients, we are truly excited to be able to transfer those clients to a fantastic company with a commitment to excellence and a track record of delivering game-changing innovation,” Cornerstone chief executive Mary Hepler said in a statement.