Masttro vs Addepar: Family Office Software for Complex Wealth in 2026

Masttro and Addepar both serve ultra-high-net-worth families, but they represent fundamentally different philosophies. Masttro was built by family office operators who prioritized privacy, fixed costs, and multi-generational planning. Addepar emerged from Silicon Valley's data analytics world, optimizing for institutional scale and portfolio performance.

This guide helps family offices evaluate which philosophy—operational privacy vs. analytical power—fits their wealth structure and governance needs.

Last reviewed: January 18, 2026.

Quick verdict

Choose Masttro if: You're a single-family office or multi-family office prioritizing data privacy, predictable costs, and operational efficiency. Masttro's Swiss-based infrastructure, fixed pricing (not AUM-based), and purpose-built family office workflows make it ideal for families who value confidentiality and don't want platform costs scaling with wealth growth.

Choose Addepar if: You manage $500M+ with significant alternative investments and need institutional-grade analytics. Addepar's $7 trillion+ platform scale, sophisticated portfolio attribution, and extensive custodian connections make it the choice for families who prioritize investment analytics and can support the technical complexity.

Consider X1 Wealth as a complement if: You need the family engagement layer—values frameworks, governance structures, legacy planning documents—that neither reporting platform provides. Both Masttro and Addepar show what you own; X1 helps families articulate why they're building wealth and how to transfer it across generations.

Comparison at a glance

Understanding Masttro

Masttro describes itself as "the original family office technology company," founded in 2010 by operators working within a complex, multi-generational single-family office. This heritage shapes everything about the platform—from its emphasis on operational efficiency to its Swiss-based privacy infrastructure.

What sets Masttro apart

1. Fixed pricing that doesn't penalize growth

While most wealth platforms charge based on AUM—meaning your costs increase as your wealth grows—Masttro uses fixed annual pricing. For family offices expecting significant asset growth, this creates substantial long-term savings and cost predictability.

2. Swiss-based privacy infrastructure

Masttro emphasizes "military-grade encryption" with a critical distinction: Masttro employees cannot access complete portfolio data. This contrasts with platforms that aggregate client data for benchmarking reports. For families prioritizing confidentiality, this architecture matters.

The platform uses:

• Client-controlled encryption keys
• Swiss-based infrastructure (stronger privacy laws)
• No data stored on devices
• Multi-factor authentication throughout

3. Global Wealth Map visualization

Masttro's signature feature displays 100% of assets on one interactive screen— financial, alternative, and non-financial—regardless of complexity. This contrasts with traditional multi-report approaches that require families to synthesize information across documents.

4. Built-in alternative investment automation

Masttro's DocAI module handles alternative investment document processing natively, extracting data from capital calls, distribution notices, and K-1s. This is built into the core platform rather than offered as an add-on module.

5. Legacy Distribution Manager

For multi-generational family offices, Masttro includes succession and estate planning tools. This reflects the founders' background in managing multi-generational wealth transfers.

Masttro pricing

Masttro uses fixed annual pricing with custom quotes based on:

• One-time onboarding fee
• Annual license (includes ongoing support)
• Pricing based on scope, not AUM

Typical implementation: 6-12 weeks for single-family offices.

Masttro limitations

• Smaller ecosystem — Fewer third-party integrations than Addepar
• Less analytical depth — Strong at operational reporting, not institutional-grade analytics
• Learning curve — Despite "intuitive" claims, still requires training
• Regional presence — Primarily serves Switzerland, US, Mexico, and Chile

Understanding Addepar

Addepar emerged from Silicon Valley's data analytics world and has grown to serve over 1,200 client firms managing more than $7 trillion in assets. The platform is built for institutional-scale analytics, sophisticated portfolio attribution, and handling the most complex alternative investment structures.

What sets Addepar apart

1. Institutional-scale analytics

Addepar's core strength is portfolio analytics at institutional quality:

• Sophisticated attribution analysis
• Risk decomposition across complex portfolios
• Factor modeling and scenario testing
• Investment committee-grade reporting

For families who want the same analytical tools as major institutions, Addepar delivers.

2. Alternative investment depth

With 40% of platform AUM in alternatives, Addepar handles:

• Private equity fund structures and waterfall calculations
• Hedge fund performance attribution
• Real estate portfolio tracking
• Venture capital investments
• Complex partnership structures

The 2025 Arcus acquisition embedded AI more deeply for document extraction and pattern recognition.

3. Massive custodian connectivity

Addepar connects to thousands of institutions—far more than any competitor. For families with accounts across numerous custodians, brokerages, and alternative investment managers, this connectivity reduces manual data entry.

4. Trading platform

Addepar launched its own trading platform in late 2025, offering rebalancing, model management, and execution—providing end-to-end portfolio management capabilities.

5. Benchmarking and peer analysis

With $7+ trillion on platform, Addepar offers benchmarking capabilities that smaller platforms can't match. Families can compare performance against relevant peer groups.

Addepar pricing

Addepar uses custom AUM-based pricing:

• Premium positioning (higher than competitors)
• Pricing scales with assets under management
• Significant implementation costs for complex deployments

Implementation: Typically 6-12+ months for complex family office deployments.

Addepar limitations

• Complexity — Requires dedicated technical resources and power users
• AUM-based costs — Expenses increase as wealth grows
• Data aggregation for benchmarks — Client data used in aggregate reporting (privacy trade-off)
• Overkill for simpler situations — If you don't need institutional analytics, the complexity isn't justified

Feature-by-feature breakdown

Pricing philosophy

Masttro: Fixed annual cost regardless of AUM. Families pay for the platform, not a percentage of their wealth. This creates cost predictability and doesn't penalize asset growth.

Addepar: AUM-based pricing means costs scale with assets. A family growing from $100M to $500M will see significant cost increases. This model works for firms managing external client assets but can feel punitive for single-family offices growing their own wealth.

Winner: Masttro for single-family offices prioritizing cost predictability. Addepar's model works better for multi-family offices passing costs to clients.

Data privacy

Masttro: Swiss-based infrastructure with client-controlled encryption. Employees cannot access complete portfolio data. No aggregation for benchmarking.

Addepar: US-based infrastructure. Client data aggregated (anonymized) for benchmarking capabilities. Strong security, but different privacy philosophy.

Winner: Masttro for families prioritizing absolute confidentiality. Addepar for families who value benchmarking against peers.

Alternative investment handling

Masttro: Built-in DocAI module for automated document processing. Good at tracking illiquid assets, real estate, and passion assets alongside financial holdings.

Addepar: Industry-leading alternative asset support with 40% of platform AUM in alternatives. Sophisticated valuation models, performance attribution, and waterfall calculations. The Arcus AI acquisition enhanced document extraction.

Winner: Addepar for complex alternative portfolios requiring institutional analytics. Masttro for operational tracking without the analytical depth.

Portfolio analytics

Masttro: Solid reporting and visualization through the Global Wealth Map. Designed for operational clarity rather than institutional analysis.

Addepar: Institutional-grade analytics including factor modeling, risk decomposition, attribution analysis, and scenario testing.

Winner: Addepar, clearly. This is their core strength.

User experience

Masttro: Interactive interface with the Global Wealth Map providing consolidated views. Still requires training, but designed for family principals as well as staff.

Addepar: Powerful but complex. Detailed dashboards designed for advisor-driven reporting. Many family principals rely on PDF exports due to platform complexity.

Winner: Masttro for principals who want to engage directly. Addepar when professional staff manage the platform.

Multi-generational planning

Masttro: Legacy Distribution Manager built in, reflecting founders' multi-generational family office experience. Succession and governance tools native to the platform.

Addepar: Less emphasis on wealth transfer planning. Primarily focused on current portfolio management and analytics.

Winner: Masttro for families prioritizing generational wealth transfer.

Custodian connectivity

Masttro: 650+ direct custodian connections with good global coverage.

Addepar: Thousands of connections through Plaid and direct integrations. Broader coverage, especially for US institutions.

Winner: Addepar for breadth of connectivity.

Implementation

Masttro: 6-12 weeks typical for single-family offices. Faster deployment reflecting simpler architecture.

Addepar: 6-12+ months for complex deployments. Requires significant planning and technical resources.

Winner: Masttro for faster time-to-value.

Who should choose Masttro?

Masttro is right for you if:

• Data privacy is paramount—you want Swiss infrastructure and employee- inaccessible data
• You're a single-family office prioritizing operational efficiency over institutional analytics
• Fixed pricing appeals more than AUM-based costs that scale with growth
• Multi-generational wealth transfer is a primary concern
• You want a platform built by family office operators, not data scientists
• Faster implementation (weeks not months) matters for your timeline

Ideal Masttro family: A $50M-$500M single-family office with complex asset structures (real estate, private businesses, alternatives) who prioritizes privacy, cost predictability, and operational clarity over institutional-grade analytics.

Who should choose Addepar?

Addepar is right for you if:

• You manage $500M+ with significant alternative investments
• Institutional-grade portfolio analytics matter for your investment process
• You have technical staff to manage platform complexity
• Benchmarking against peers informs your strategy
• Maximum custodian connectivity reduces operational burden
• You're a multi-family office passing platform costs to clients

Ideal Addepar family: A $500M+ family office or multi-family office with 30%+ alternative allocations, dedicated operations staff, and investment committee processes requiring institutional-quality analytics.

What neither platform offers

Both Masttro and Addepar excel at portfolio reporting—showing families what they own, how it's performing, and how it's structured. But neither addresses what wealthy families increasingly need beyond the numbers:

Values articulation

Neither platform helps families document:

• What do they actually care about beyond returns?
• What principles guide financial decisions?
• How should wealth serve family purpose?

Governance frameworks

Who makes financial decisions? What's the process for major choices? How do different generations participate? Neither platform provides these structures.

Family engagement documents

Both produce excellent reports. But what helps family members understand the meaning of the wealth—not just the metrics?

Legacy planning context

Masttro's Legacy Distribution Manager handles mechanics. Addepar tracks current portfolios. But who helps families articulate why they're transferring wealth and what they hope it accomplishes?

X1 Wealth: the family engagement layer

X1 doesn't compete with Masttro or Addepar for portfolio reporting. We think both are excellent at what they do.

Instead, X1 provides the family engagement layer that complements wealth reporting:

Family Constitution: Values articulation, decision frameworks, and governance structures that wealthy families actually use for generational planning.

Family Office Outputs: Wealth Philosophy Profile, Risk DNA Report, Legacy Blueprint—documents that contextualize what the numbers mean for this family.

Estate Plan Analysis: Upload trust documents and generate plain-English explanations that family members can actually understand.

Meeting Playbooks: Auto-generated agendas for family wealth meetings based on the family's governance framework.

Best for: Families using Masttro or Addepar for portfolio reporting who want to deliver family engagement documents without building them from scratch. Also ideal for families who can't justify either platform's cost but want family office-quality strategic planning.

See how X1 complements your wealth platform →

Methodology

This comparison was developed through:

• Analysis of official product documentation from both vendors
• Industry comparisons and family office software reviews
• Published feature comparisons and user feedback
• Information verified as of January 2026

We have no affiliate relationship with either Masttro or Addepar.

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Looking for different comparisons? See our guides to Addepar vs Black Diamond for HNW reporting platforms or Orion vs Black Diamond for enterprise wealth technology.