Wealth management firms are leaving significant revenue on the table, and a new partnership aims to help them reclaim it. Ascentix Partners, a New York-based strategy consultancy, and PureFacts Financial Solutions, a Toronto-headquartered revenue management software provider, have announced a collaboration to address what they describe as a critical gap in how RIA enterprises and private equity-backed wealth businesses approach organic growth.
The initiative centers on PureFacts' PureRevenue Platform, which the company markets as a Revenue Book of Record. The system integrates fee billing, advisor compensation, and practice management analytics into a single interface, giving firms a comprehensive view of where revenue is generated, billed, and distributed—and where it is lost to inefficiencies, pricing inconsistencies, or unnecessary discounting.
Larry Roth, founder and managing partner of Ascentix and a former CEO of both Cetera Financial and Advisor Group, emphasized the growing pressure from private equity sponsors. "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 new tool offers a different lever. By analyzing revenue more holistically, firms can identify overlooked earning opportunities without chasing new assets. Roth framed it as a way to "fundamentally transform" the growth picture and drive valuations higher.
The platform's three core modules tackle distinct operational challenges. The Fees & Billing module targets errors and inconsistencies in complex fee calculations and collections. Advisor Compensation aligns incentive pay with firm-wide strategy, reducing disputes and encouraging revenue-positive behavior. Practice Management delivers analytics on client value, pricing benchmarks, and advisor effectiveness, helping firms identify unnecessary discounting and strengthen existing client relationships.
Pete Hess, president of PureFacts and former CEO of Advent Software, called organic growth "the defining challenge in wealth and asset management today." He added that the collaboration between Ascentix and PureFacts brings deep expertise to that challenge.
The announcement arrives as cost pressures mount across the industry. Fidelity's 2024 RIA Benchmarking Study found that firm expenses consumed approximately 82% of revenue in 2023—a record high. With margins squeezed, extracting more from existing revenue streams has become a board-level priority at many wealth enterprises, rather than simply relying on asset accumulation.
Ascentix, which rebranded from RLR Strategic Partners earlier this year, serves RIA enterprises, dual registrant firms, family offices, wealthtech platforms, and private market solutions providers. It is headquartered in New York with offices in Los Angeles. PureFacts counts more than 140 clients managing a combined $10 trillion in assets under management, and has expanded its footprint across North American and European wealth technology stacks in recent years. The company received a majority investment from private equity firm GrowthCurve, which has been directed toward product development and artificial intelligence.
The partnership comes as mid-sized RIAs face increasing pressure to demonstrate organic growth, and as regulatory scrutiny of private equity in wealth management intensifies. For firms looking to optimize revenue, the PureFacts-Ascentix offering provides a data-driven approach to plugging fee leakage and improving profitability.
