Family Office Performance Software: Aggregation and Reporting

Family Office Performance Software: Aggregation and Reporting

Volume 22: Family Office Performance Software: Aggregation and Reporting

In Part 22 of the Family Office Association Podcast Audio Series, Angelo J. Robles is joined by Joe Larizza, founder of Mirador, a company offering financial portfolio reporting services to families, endowments and boutique wealth managers. Mirador leverages industry-leading third-party technologies to create fully-customized reporting for an individual client’s needs.

He joins the Family Office Association Podcast to discuss family office performance software, including:

  • What is performance software and how is it different from accounting reporting?
  • What are the real benefits that family offices see when they start using performance software?
  • What options are currently on the market for performance software?
  • How should family offices approach choosing and setting up their software?

Transcript Preview:

Angelo Robles: Good afternoon, everyone. This is Angelo Robles at Family Office Association. Welcome today to our Family Office Association Audio Podcast. Among the more common questions that we get from those that are direct family members with an active SFO and certainly from the executives working within the community is the opportunity to really understand what is out there that puts further information and resources at the fingertips of SFOs and families relative to performance reporting, account aggregation and reporting in general, including accounting.

We’re really lucky to have with us today Joe Larizza as the founder of Mirador. They’re an organization in my backyard, in Greater Greenwich, Connecticut. And, Joe’s one of the true experts at really understanding broadly the question that I asked, and his expertise in that arena runs very, very deep. This is a very integral, important topic for families, not just from simply having the resources at their fingertips, which again, allows them to make quicker and often more strategic and better decisions, but also is a risk management tool. So, I think greatly underestimated by many families, and we’re very fortunate to have Joe with us on the call today. Joe, how are you?

Joe Larizza: I’m great, Angelo. Thanks for having me.

Angelo: Pleasure is mine. Let’s get right to it. I’m going to start with a question, what is performance reporting and aggregation software?

Joe: You know, that’s probably the number one question that everyone asks me, and it’s really amazing how in 2016 there’s still a whole segment of people who really haven’t been, who haven’t gotten exposed to this technology so they can embrace it. But, generally, reporting, performance reporting and aggregation software is a set of tools that have the ability to capture balances and transactions from all your assets and liabilities, no matter where they’re held and no matter what currency they’re in. It also allows you to report, report your balances, but also allows you to do things like report how well you’ve done, such as performance and performance against benchmarks.

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