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.
NOV 08, 2013
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.

Latest News

Voya expands advisor managed accounts to add private market assets
Voya expands advisor managed accounts to add private market assets

Voya Financial adds private equity, credit and real estate options to its AMA program, building on support for looser federal investment rules in retirement accounts.

With executives leaving, Osaic’s Reid now in the spotlight
With executives leaving, Osaic’s Reid now in the spotlight

Shannon Reid, president of Osaic and the network’s number two executive, has plenty of challenges, industry executives said.

Investors sue crypto fund and platform, alleging $1.5 million never returned
Investors sue crypto fund and platform, alleging $1.5 million never returned

Auditors flagged the commingling. The COO allegedly knew. Investors kept getting the pitch

Wells Fargo nabs $1.7B RBC advisor team, loses two teams to LPL
Wells Fargo nabs $1.7B RBC advisor team, loses two teams to LPL

The advisors on the move include two brothers leading a family practice in Connecticut, and a husband-and-wife tandem working with business owners in the West Coast.

Most potential business successors think there's a plan – but owners say otherwise
Most potential business successors think there's a plan – but owners say otherwise

Business owners and their heirs may be making assumptions instead of having conversations, creating challenges for succession planning, according to new research.

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.