A reconciliation engine that keeps Addepar's reporting in line with iCapital for private placements, structured notes, and insurance products (PPLI, PPVA, fixed indexed annuities, and RILAs). It checks commitments, capital calls, distributions, premiums, and NAV or contract values every cycle, fixes the breaks that follow a rule, and sends only true exceptions to a person.
Only the breaks a rule can't safely clear reach a person. Each comes with the evidence and a suggested fix. Approving here is a demo; in production it writes the correction and an audit entry.
| Rep-driven reconciliation | This engine | |
|---|---|---|
| Coverage | Sample of positions, often quarter-end only | Every position, every cycle |
| Capital calls | Rep reads the notice, keys the call into Addepar | Matched by iCapital event ID; unbooked calls written to the import file |
| Distributions | Income vs. return of capital keyed by hand, errors hit cost basis | Classification checked against the iCapital event type and corrected |
| Valuations | Rep chases NAVs and contract values, compares by eye | Lagged marks rolled forward; same-date breaks flagged with the % variance |
| Insurance | Carrier statements reconciled separately, if at all | PPLI, PPVA, FIA, and RILA contract values in the same pass |
| Audit trail | Spreadsheet notes | Every fix carries its iCapital source reference |
| People's time | Spent finding breaks | Spent resolving the few that need judgment |
| Check | Outcome |
|---|---|
| iCapital event not in Addepar (call, distribution, premium, subscription) | Auto-book |
| Distribution type differs (income vs. ROC) | Auto-reclass |
| Addepar mark older than iCapital mark | Auto-update |
| Value difference ≤ $1.00 | Auto-clear |
| Same-date value break | Exception |
| Valuation older than 120 days | Exception |
| Commitment mismatch | Exception |
| Duplicate transaction (delete needs sign-off) | Exception |
| Unmapped security / missing position | Exception |