Wealth enterprises are leaving revenue on the table - a Canadian software firm enters new partnership with strategic consultancy
A partnership between Toronto-headquartered revenue management software provider PureFacts Financial Solutions and New York-based strategy consultancy Ascentix Partners is putting a new lens on organic growth focused on revenue wealth management firms are already owed but failing to collect.
The two companies announced the alliance combining PureFacts' PureRevenue Platform with Ascentix's advisory expertise to help wealth enterprises identify and recover earnings lost to fee billing inefficiencies, misaligned advisor compensation structures and inadequate pricing discipline.
The partnership arrives at a moment when the traditional levers of growth - market performance, mergers and acquisitions, and advisor recruitment - are proving less reliable for wealth management firms seeking to raise their valuations.
Global wealth management AUM expanded by 13 per cent in 2024, yet revenue growth lagged significantly at 7.1 per cent, as many firms saw falling margins against a shifting rate environment, according to a recent industry report. The gap between asset growth and revenue capture is precisely the problem PureFacts and Ascentix say they are designed to close.
Larry Roth, founder and managing partner of Ascentix Partners and a veteran of two of the largest independent broker-dealer networks in the United States, framed the challenge in terms familiar to private equity-backed wealth firms on both sides of the border.
"There is ever-increasing demand from private equity sponsors for their RIA portfolio companies to achieve aggressive growth targets," Roth said. "Historically, solutions for addressing these growth expectations have been restricted to a combination of asset growth, cost cutting and client acquisition."
The partnership adds what Roth described as a fourth lever. "PureFacts fundamentally transforms this picture by adding a new and powerful component to driving valuations," he said, "by considering revenue more holistically and finding overlooked or underutilized earning levers to pull."
What the platform does
PureFacts' PureRevenue Platform, which the company positions as a Revenue Book of Record, connects three capabilities into a single system. Fees & Billing is designed to eliminate errors and inconsistencies in how complex fee structures are calculated and collected with what PureFacts describes as zero tolerance for avoidable billing mistakes.
Advisor Compensation is built to align pay incentives with firm-wide strategy, reduce disputes between advisors and firm leadership, and reinforce revenue-positive behaviours across a practice. Practice Management delivers analytics on client value, pricing benchmarks and advisor effectiveness, with a particular focus on identifying where unnecessary discounting is eroding margin on existing client books.
PureFacts and Ascentix are pitching their combined offering as a way for firms to extract more growth from revenue already embedded in the business, rather than relying on markets or M&A to move the needle.
Pete Hess, president of PureFacts Financial Solutions and former chief executive of Advent Software, said the collaboration speaks directly to what wealth enterprises are grappling with.
"Organic growth is the defining challenge in wealth and asset management today, and few understand it as deeply as Ascentix and PureFacts do together," Hess said. "This partnership puts that understanding to work for the industry's leading firms by helping them improve pricing, capture more earned revenue, align advisor behaviour and use trusted revenue intelligence to accelerate profitable growth."
A Toronto-rooted technology play
PureFacts, which is headquartered in Toronto and serves clients managing a combined $10 trillion in assets under management, has built its client base among some of the largest wealth management, asset management and asset servicing firms in North America and Europe.
The company received a majority investment from private equity firm GrowthCurve, with funds directed toward product development and artificial intelligence integration.
As an industry report noted, firms that deliberately invest in advisor enablement, brand identity and next-generation client strategies are outperforming peers not just in revenue but also in valuation multiples - a dynamic the Ascentix-PureFacts partnership is directly seeking to support.
Wealth Professional has previously reported on the pressure facing wealth management firms to build sustainable organic growth strategies as M&A-driven consolidation slows and market-driven AUM gains become less predictable.
For Canadian wealth enterprises watching their counterparts in the United States navigate these pressures, the question of how to better manage and capture revenue from existing client books rather than simply chasing new assets is becoming a board-level priority.
Research covered by Wealth Professional indicates that firms rewarding growth-linked advisor behaviours, including expanding fee-based business and building discretionary accounts are outperforming peers - precisely the behaviours PureFacts' compensation and practice management tools are built to reinforce.
Ascentix Partners, which rebranded earlier in 2025 from RLR Strategic Partners, is headquartered in New York with a presence in Los Angeles. It serves wealth management enterprises, family offices, wealthtech platforms and private market solutions providers.
As Wealth Professional has reported, Canadian advisors are anticipating strong client growth in the years ahead making the ability to capture and retain the revenue that growth generates more important than ever.
