Accruit

Accruit operates as a specialized financial services firm focused on facilitating 1031 like-kind exchanges, a tax deferral strategy for real estate and, previously, business-use asset investors. Founded in March 2000 by Brent Abrahm and Todd Fisher, the company, originally known as e-LKE, pioneered high-volume personal property 1031 exchange programs for major corporations. A significant milestone was achieved in October 2000 when Accruit completed the first-ever 1031 exchange entirely over the internet.

The company's trajectory shifted significantly following the Tax Cuts and Jobs Act of 2017, which limited 1031 exchanges to real property. This legislative change pivoted Accruit's focus heavily towards real estate exchanges. To bolster its expertise and regional presence, Accruit acquired Montana-based American Equity Exchange in 2018. A landmark event in the company's history was its acquisition by Inspira Financial in April 2023, a move designed to integrate Accruit's specialized services into Inspira's broader suite of health, wealth, and retirement solutions and expand its reach to over 5 million clients.

Accruit's business model is twofold. The primary revenue stream comes from acting as a Qualified Intermediary (QI) for investors undertaking 1031 exchanges. This involves securely holding client funds and ensuring transactions adhere to strict IRS regulations for various exchange types, including forward, reverse, and build-to-suit transactions. Secondly, Accruit generates revenue by licensing its proprietary, patented software, Exchange Manager Pro℠. This SaaS platform is offered as a white-label, back-office solution, rebranded as QI Connect, to other QIs and financial institutions, enabling them to offer 1031 services without establishing their own infrastructure. Exchange Manager Pro℠ streamlines the entire process by automating document creation, managing deadlines, and providing a secure, centralized hub for all transaction data.

Keywords: 1031 Exchange, Qualified Intermediary, real estate tax deferral, like-kind exchange, Exchange Manager Pro, QI Connect, forward exchange, reverse exchange, build-to-suit exchange, tax-deferred strategy, investment property, exchange accommodation titleholder, financial technology, wealth preservation, SaaS, back-office QI solution, real estate investing, Inspira Financial, Brent Abrahm, asset exchange