First Rate

What First Rate does

First Rate is a privately held WealthTech company founded in 1991 and headquartered in Arlington, Texas, that builds performance reporting, data aggregation, fee billing, and compliance surveillance software for wealth management firms, asset managers, broker-dealers, RIAs, family offices, institutional investors, and alternative asset managers. Its core platform comprises CORE 2.0 (performance reporting with customizable dashboards), Data Aggregation as a Service (DAAS) powered by the proprietary ArtIE AI engine, Fee Manager for cloud-based billing, ExecView for advisor surveillance, and the Automated Composite Engine (ACE). The company extends into alternative investment management through the First Rate Vantage division, which delivers fund accounting, investor portals, deal flow management, fundraising, research management, and AI-native tools including Vantage ArtIE (proprietary small language model), EZVZ (deal flow chatbot), and the AI Due Diligence Platform. Additional capabilities include custodial feeds, heldaway asset data aggregation, statement processing, managed hosting, and integration services via an IPAAS layer.

First Rate generates revenue primarily through enterprise software licensing and annual subscriptions of its WealthTech and Vantage platforms, with pricing tailored to client AUM tier (wealth $10B+, $5-10B, $5B, institutional, broker-dealer/RIA, family office, alternative asset management) and selected product modules. Supplementary revenue streams include professional services for implementation, managed hosting, data services (custodial feeds, heldaway assets, statement processing), and technology-enabled fund administration services for private capital firms. The company sells through direct enterprise field sales globally, supported by a network of offices in the USA, India (Hyderabad and Pune), Singapore, the UK (Birmingham), Chile (Santiago, via the 2022 Finantech acquisition), and Afghanistan (Kabul), with an active venture and accelerator ecosystem (First Rate Ventures, Founders Arena) that feeds acquisitions and partnerships into the core business.

Notable customers include Meketa Investment Group, Shreem Capital, Connected Capital Co., and Synovus Financial Group; the broker-dealer platform has stress-tested over 5 million portfolios and manages 575,000 portfolios for clients, with an average customer tenure exceeding 10 years. The company holds ISO 27001 and SOC 2 Type 2 certifications, earns 4.9/5 ratings on G2 and Capterra for its Vantage platform, and has won multiple industry awards in 2024 including FTF Awards and WealthBriefing Wealth For Good Awards. First Rate has remained privately held and self-funded across its 30+ year history, with no external funding rounds disclosed.

Name

First Rate

Legal name

First Rate, Inc.

Website

https://firstrate.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Wealth Management Software

NAICS

Software Publishers (5132), Portfolio Management and Investment Advice (523940)

SIC

Finance Services (6199)

akta.pro primary industry

High-Net-Worth & Private Wealth Digital Platforms (Digital Private Banking) (FSAGAEAI)

akta.pro secondary industry

Transaction Analytics & Cash-Flow Insights (risk signals, forecasting) (FSAGACAG)

Keywords

• Wealth management software
• Performance reporting platform
• Portfolio analytics software
• Alternative investment management
• Data aggregation services

Headquarters

HQ city

Arlington

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. WealthTech Software Licensing and Subscriptions: First Rate generates revenue through licensing its WealthTech platform including CORE 2.0, DAAS, Fee Manager, ExecView, and ACE reporting tools to wealth management firms, asset managers, broker-dealers, and banks. Delivered via cloud-based subscription model with annual billing.
2. First Rate Vantage — Alternative Investment Management Software: Revenue from First Rate Vantage division providing alternative investment management solutions including fund accounting, investor portal, deal flow management, fundraising portal, and research management to private equity, venture capital, real estate, and advisory firms. Subscription-based with white-label tailored solutions.
3. Professional Services: Implementation, managed hosting, and professional services supporting platform deployment and customization for enterprise clients.
4. Data Services: Data aggregation, custodial feeds, heldaway asset data, and statement processing services generating recurring data-related revenue from financial institutions.
5. Fund Administration Services: Technology-enabled fund administration services for private capital firms including fund accounting, capital activity, reporting workflows, and investor communications.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

First Rate develops and sells an AI-enhanced WealthTech platform for wealth management firms, asset managers, broker-dealers, family offices, and alternative investment managers. Core offerings include CORE 2.0 performance reporting, DAAS (Data Aggregation as a Service) powered by the ArtIE AI engine for custodial data ingestion and reconciliation, Fee Manager for automated billing, ExecView for compliance surveillance, and ACE for composite management, complemented by the First Rate Vantage suite of alternative investment software (investor portal, fund accounting, deal flow, fundraising, due diligence). Revenue is generated through enterprise cloud subscriptions, professional services, and managed hosting.

Product overview

First Rate is a comprehensive WealthTech platform offering a suite of integrated products for wealth management, asset management, and financial services firms. The core platform includes CORE 2.0 for performance reporting, Data Aggregation as a Service (DAAS) powered by ArtIE AI for data ingestion, Fee Manager for automated billing, ExecView for surveillance, and Automated Composite Engine (ACE) for composite management. The First Rate Vantage sub-brand provides alternative investment management solutions including Vantage Insight (investor portal), Vantage Fund Accounting, Vantage Deal Suite, Vantage Fundraising, and Vantage Research Management, along with AI-powered tools (ArtIE, EZVZ, AI Due Diligence Platform). Additional offerings span data services (custodial feeds, heldaway assets, statement processing), managed hosting, professional services, and IPAAS integration platform. First Rate Ventures serves as the corporate VC arm investing in the broader WealthTech ecosystem. The company operates globally with offices across seven countries serving broker-dealers, RIAs, institutional managers, and family offices across all wealth tiers.

Differentiator

Problem solved

Functional benefit

Brands

• First Rate Ventures: Corporate venture capital arm of First Rate, Inc., investing in early-stage WealthTech startups with $100K+ ARR and acquiring majority interests in mature WealthTech platforms.
• First Rate Vantage
• First Rate Finantech

Products and services

• CORE 2.0 Comprehensive performance measurement and reporting platform with an intuitive advisor dashboard, customizable widget library, and report writer tool for creating and editing performance reports based on entitlements. Used by wealth management firms, broker-dealers, RIAs, and institutional investors.
• Data Aggregation as a Service (DAAS) AI-powered data ingestion and automation platform powered by the ArtIE engine that transforms structured and unstructured data sources and connects to virtually any custodian to pull, normalize, and reconcile data. Used by financial institutions requiring data consolidation across custodians and asset classes.
• Fee Manager Automated, cloud-based fee billing system providing analytics, advisor insights, security, accuracy, and reliability with configurable multi-access user levels. Used by wealth management and broker-dealer firms for fee billing automation.
• ExecView Automated oversight and surveillance solution for analyzing advisor performance, risk exposures, assessing trends and identifying outliers and exceptions. Used for compliance surveillance and advisor oversight at broker-dealers and wealth firms.
• Automated Composite Engine (ACE) Automated composite management solution for processing and managing investment composites across multiple asset classes.
• Alts Data Management Comprehensive data management solution for alternative assets providing data aggregation, normalization, and reconciliation capabilities for alternative asset managers.
• Vantage Insight Investor Portal Industry-leading investor portal for alternative investment management providing real-time data, automated workflows, and secure document access for fund managers and investors. Used by PE, VC, real estate, and advisory firms for investor relations and fundraising.
• Vantage Fund Accounting Streamlined fund and partnership accounting solution for alternative investment firms with automated workflows and advanced reporting capabilities. Used by PE, VC, and real estate fund managers.
• Vantage Deal Suite Comprehensive deal management platform for optimizing deal sourcing, due diligence, and pipeline tracking with automated workflows and real-time collaboration. Used by investment teams for deal flow management.
• Vantage Fundraising Fundraising platform for investor onboarding, document management, and compliance with automated workflows and secure data storage. Used by alternative investment managers to streamline fundraising.
• Vantage Research Management Investment research sharing platform for consulting and advisory firms with automated workflows and secure document sharing.
• Vantage ArtIE Data Orchestration Service AI-powered data orchestration service for alternative investments that uses a proprietary small language model to extract key data from documents, sync with accounting and reporting systems, and proactively flag discrepancies.
• Vantage EZVZ Deal Flow Intelligence AI-driven deal flow intelligence tool that parses pitch decks, extracts relevant data, and enables fast access to insights through an AI chatbot that can query documents and meeting notes. Used by investment teams for deal screening.
• Vantage AI Due Diligence Platform AI-powered due diligence platform for private markets that automates DDQ submission, analysis, validation, and investment memo creation, designed to automate up to 80% of private markets due diligence. Used by investors and fund managers.
• Managed Hosting Cloud-based hosting services for First Rate's wealth management solutions, providing infrastructure and operational support for enterprise clients.
• Professional Services Consulting and implementation services including key performance attributes extraction, sentiment analysis, BOT model outsourcing, and platform deployment customization for enterprise clients.
• Fund Administration Services Technology-enabled fund administration services for private capital firms covering fund accounting, capital activity, reporting workflows, and investor communications.
• IPAAS Integration Platform Integration Platform as a Service for connecting First Rate solutions with external systems and data providers.

Quantifiable outcome

• 5 million+ portfolios stress-tested on the broker-dealer platform
• +6 more outcomes

Named customers5 records

Segments9 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability11 records

Feature11 records

Partnerships

Five partnerships are on record, tiered core and minor.

• The Founders ArenacoreStrategic or Co-development Partner · 1 April 2026Collaboration with The Founders Arena, a WealthTech accelerator based in Arlington, Texas, for the sixth cohort of startups (Abacus, Clarista, Kapnative, OpenBB, Wealthie, WealthMore). First Rate has participated in multiple cohorts as a collaborative partner alongside SEI, the City of Arlington, and Arlington Economic Development Corporation. The accelerator has helped 30 startups scale globally over three years with four successful exits.
• Texas Venture AllianceminorStrategic or Co-development Partner · 1 April 2026The Founders Arena announced a partnership with Texas Venture Alliance for the Texas Innovation Operating System, connecting regional innovation ecosystems into a statewide network culminating at the 5th Annual Texas Venture Fest in September 2026.
• InvestSuitecoreTechnology or Integration · 1 June 2025First Rate announced a strategic partnership with InvestSuite to integrate StoryTeller, an AI-native tool that converts client portfolio data into video and text narratives for wealth advisors, starting June 2025. StoryTeller automates personalized story creation, offers advisors talk tracks and real-time AI support, and integrates with data providers including Morningstar and Refinitiv.
• SEIcoreStrategic or Co-development Partner · 1 January 2023Multi-year strategic partnership extension with SEI, a major financial technology provider. SEI is a long-standing collaborator in the Founders Arena accelerator and First Rate's broader ecosystem partnerships.
• BNP ParibasminorChannel Partner/ Reseller/ DistributorBanking partner for InvestSuite's StoryTeller product, which first gained traction with BNP Paribas in Europe before the U.S. launch through the First Rate partnership.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• SS&C Technologies (Advent / Black Diamond): SS&C offers Advent and Black Diamond, the leading portfolio accounting and reporting platforms used by wealth managers, RIAs, and family offices. Highly comparable to First Rate's CORE 2.0, performance reporting, and composite management offerings.
• Envestnet: Envestnet provides unified wealth management technology, including data aggregation, performance reporting, and analytics for advisors and enterprises. Comparable to First Rate's DAAS, Fee Manager, and ExecView across wealth and broker-dealer channels.
• Orion Advisor Technology: Orion provides portfolio accounting, performance reporting, and risk analytics tools to RIAs and broker-dealers. Overlaps directly with First Rate's CORE 2.0, ACE, ExecView, and multi-currency reporting stack serving wealth and broker-dealer segments.
• Addepar: Addepar provides portfolio analytics, performance reporting, and data aggregation for HNW, family office, and institutional clients. Highly comparable to First Rate's HNW/family office and institutional WealthTech stack including multi-currency reporting and alts data management.
• Juniper Square: Juniper Square provides investor portal, fund accounting, and reporting software for private equity, venture, and real estate sponsors. Directly competes with First Rate Vantage's investor portal, fund accounting, and fundraising modules serving alternative asset managers.
• Allvue Systems: Allvue provides investment management software across private equity, credit, and real estate with deal sourcing, fund accounting, and LP reporting. Overlaps with First Rate Vantage's Fund Administration Services, AI Due Diligence, and EZVZ deal flow modules.
• iCapital: iCapital offers technology, data, and analytics solutions for alternative investments, including investor onboarding, reporting, and due diligence. Comparable to First Rate Vantage's alternative asset management offerings.

Emerging players

• Yodlee: Yodlee is a data aggregation and analytics platform powering fintech apps with bank, investment, and holdings data. Overlaps with First Rate's DAAS / ArtIE data ingestion and aggregation capabilities for wealth and advisor channels.

Broad incumbents

• Morningstar: Morningstar is a broad investment data, research, and analytics incumbent offering portfolio analytics and reporting tools across institutional and advisor channels. Comparable to First Rate's portfolio analytics and reporting, but as part of a much wider data, ratings, and research portfolio.
• emPOWER (formerly eMoney / Personal Capital): Empower provides wealth management, planning, and technology tools across advisor and consumer segments, including performance reporting and aggregation. Overlaps with First Rate on data aggregation and portfolio reporting but operates at much broader retail and enterprise scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@FirstRateVantage
• Xx.com/firstrateperf
• Facebookfacebook.com/firstrateperf
• LinkedInlinkedin.com/company/first-rate-inc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Rate