Addison, Addepar’s own artificial intelligence tool that debuted in March, is already a hit, leaders at the software company said Thursday at its annual AddeConf gathering in New York City. Now, the firm is focused on improving Addison’s capabilities, creating AI agents and making it central to operations at family offices, institutional investors and wealth management firms. How the costs associated with that are shared will be determined later.
Less than three months after Addison was made available to almost all of Addepar’s over 1,400 client organizations that manage or advise on $9 trillion in assets, almost half have opted in and are actively using it. The number of users continues to grow, and their usage, measured by the number of prompts, is growing 30% month-over-month, Kunal Gosar, the head of AI at Addepar, told Modus.
Hundreds of single-family offices are Addepar clients and their total assets tracked by the platform top $1 trillion.
“That's been very energizing, frankly, to see the level of adoption, excitement and behavior-change that's starting,” Gosar said.
Addepar says Addison is far from any adoption ceiling. It’s answering questions that many firms have about Addison’s security, regulatory compliance, accuracy and how it will affect the workflows of hundreds of users. It takes more time for some companies, especially large ones, to vet, approve and plan the rollout of any software, let alone one with the explicit objective of changing how workers do their jobs.
Some Modus readers who use Addepar say they are excited about the potential impact an AI tool like Addison could have, but they are frustrated that their employer hasn’t approved its use yet.
“We've been doing enterprise-grade security compliance and governance for years. We're used by some of the largest global banks, and we've passed all of their security requirements. So the positioning is quite strong because Addison and our entire AI platform are built into our infrastructure. It runs within that same perimeter, and that gives clients a lot of understanding,” Bob Pisani, chief technology officer at Addepar, said.
Those with access to Addison are using it in a variety of ways: to analyze their clients and business in aggregate, evaluate investment portfolios and gain insights into and improve their operations. At yesterday’s annual conference, attended by hundreds of clients, Addepar announced that it expanded Addison’s access to alternatives and private markets data and to its Addepar Data Exchange (ADX), which ingests information from other parties, such as Salesforce, Factset, Snowflake, and others, making it usable by Addison.
In just the first few weeks since launch, users have made it clear they also want to use Addison to evaluate asset managers and investment documents, compare opportunities, and conduct other investment research. “What we heard dominantly from clients is, ‘This is great, but I want deeper visibility into my private investments and alternatives.’ That was big feedback that we kept getting,” Gosar said.
The business of helping investors use AI to manage their private-market investments is getting more crowded. Companies like Addepar, Masttro, Aleta and Arch (which raised $52 million in funding last fall) and others have been around for years and have added AI. There are also upstarts founded in the AI era, such as Automated Data Inc. and Unlimited.ai.
Adoption of AI at family offices is generally lagging behind that of institutional investors, as a Citibank report highlighted last week. Less than a quarter of family offices surveyed by the bank said they were using AI for any task. Only 22% of offices surveyed were using AI for operational tasks, 22% for investment analysis or forecasting, and 17% for family presentations.
Addepar says its family-office clients seem to be using AI more than the typical family office, but there is still much operational leverage to be had by all. In the future, with AI agents, much time will be freed up for small staffs at family offices to do different things.
“The most interesting part of AI is not what it can do to help you do an existing process better or faster. It's AI that can help you do something you could never do before,” Pisani said. “We truly are setting up Addepar to be this foundational data and AI platform for wealth and investment management. And we're trying to answer the question: who do I pick, who do I use, how do I solve this myself? And we want to be able to give them the best of both worlds.”
With growing adoption and heavy use of AI come significant costs, at least in aggregate for Addepar. In addition to its tools for its users, the software company itself uses AI to build products. It is skilled at using AI efficiently, for example, by choosing the right models for the right tasks (some are cheaper than others and can do the same job).
Eventually, Pisani said, Addepar will look back on the money it spent in 2026, weigh its AI investment against the outcomes for itself and its clients, and determine what all parties value most and how they might share the cost.
“It has to work for everybody,” Pisani said. Some clients might prefer to pay per query rather than use tokens. Others might want to pay a monthly fee as a firm or per user. AI companies are also exploring outcome-based revenue models. “Every time you succeed in resolving an issue, or you ultimately create a report, there are different ways to price it, and we're going to have to experiment because right now, sitting here today, I don't have a clear answer on exactly how to share the cost burden and then ultimately that value creation.”
There is real cost arbitrage in the game of high-powered AI, which most family offices aren’t knowledgeable about or don’t want to spend their time on, Pisani said.
Right now, Addepar is focused on making Addison the AI tool that clients choose and one that attracts new clients.
“I can't tell you what my AI budget is,” Pisani. “I'm telling you that we're just spending as much as it takes.”
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