Custodian to portfolio system
Positions and transactions tied from the custodian record to your portfolio system, every month, before anything is billed or reported.
Join waitlistWho has to say yes before we can read it
Graded on the weakest link, which is almost never the code. It is whether we are allowed to be the recipient.
The access note from a first call, five rows and four kinds of gate. Interactive Brokers: you generate a read-only Flex Web Service token yourself in Client Portal, graded A. Addepar: your firm administrator issues an API access key that inherits the creating user’s permissions, graded A, if the firm is already on Addepar. Orion, Black Diamond and Tamarac: documented APIs, but the vendor approves the integrating party before the firm can, graded B. Schwab, Fidelity and Pershing: real APIs and daily files, reached through a data access agreement your authorised signer executes and the custodian validates against your Form ADV Schedule A, graded B and measured in weeks. Alternatives marked by the sponsor: the position appears on the statement every month, but the mark on it can be a quarter old, and no integration invents a price that has not been struck.
2 keys, 2 approvals, 1 no
Two of these are a key somebody issues in an afternoon. Two are an approval neither of us controls, and one of those is measured in weeks. Where a path exists, the month runs two to six hours.
Every one of these systems will hand the data over. The only question is whether we are allowed to be the one receiving it, and that is your signature rather than our software.
We work inside the platform you already pay for. Whether this is straightforward or impossible is set by that platform, and we tell you which on the first call.
Across custodians rather than within one, which is the version no single platform solves on its own.
We do the work. You verify it.
- Telling you on the first call whether we can reach your data at all, because whether this is two hours a month or impossible is decided by the platform you already run.
- The matching itself: positions, cash and transactions, custodian record against your book of record, every month before anything is billed or reported off it.
- The breaks that actually consume the hours, which are cost basis and tax lots, corporate actions, and a security that carries a different identifier in each system.
- The evidence behind each break and which side is the one to fix. On cost basis for a covered security the custodian is the statutory reporter, so it is usually the portfolio system that moves.
- Doing the work off one export a month where no integration is available, and quoting it that way rather than discovering it after you have paid.
- Your platform's vendor, or your custodianOrion, Black Diamond and Tamarac issue integration credentials themselves rather than letting your firm issue them, and Tamarac runs through Envestnet, so there are two gates. Schwab, Fidelity and Pershing do have a path, through an agreement your authorised signer submits and they validate against your Form ADV Schedule A. Weeks, not days, and the approval is not ours or yours to grant.
- Whoever marks your alternativesA position marked quarterly has no intramonth value to reconcile against. The position is on the statement, the mark is up to a quarter old, and no integration invents a number that does not exist yet.
- YouYou sign your books. We hand over the reconciliation and the evidence behind each break, and the corrections are posted by whoever keeps your book of record.
We do not trade, we do not instruct your custodian, we never move money, and we do not promise access we have not been granted. Whether this is two hours a month or impossible is decided by the platform you already run, and you get that answer on the first call rather than after a month of invoices.
What we ask on the first call
The answers decide whether this is two hours a month or not something we should take on. You get that on the first call rather than the third.
- 01What holds the positions, and what is your book of record? Addepar and Interactive Brokers Flex issue a key your own firm controls, so those open in an afternoon.
- 02If you run Orion, Black Diamond or Tamarac, has your platform's vendor approved a third party for you before? That approval is theirs to give.
- 03At Schwab, Fidelity or Pershing, who is the authorised signer on your Form ADV Schedule A, and will they sign a data access agreement naming us?
- 04What share of the book is alternatives, and how often are they marked? Quarterly marks are the one case where there is genuinely nothing to reconcile intramonth.
- 05Is there MFA on the account, and who holds the second factor day to day?
- 06If none of that opens, will you send one export a month? That is the honest version of this engagement and it still works.
- When it runs
- Monthly. Before any billing or reporting run
- What it costs you today
- 2-6h a month
- What it touches
- Orion, Addepar, Black Diamond, Tamarac, Schwab, Fidelity, Pershing
- Grade B
- Runs, with a hop we handle
Pricing
Two ways to work with us.
Have us run the recurring back office, or have us build you a system you own. We are what makes the administrator you already pay for usable by a two-person firm.
We run your back office
What moves it: how many entities, how many LPs, and what your positions sit on.
Done-for-you operations, handled on the cadence each task needs, for investment firms of any size.
- Your administrator's draft lands day 30. Our pass is done by day 34. Your LP pack goes out day 45.
- Your auditor's list closed before 31 December, not reconstructed in March.
- No per-LP fee. No charge per capital call. No add-on for an extra SPV.
- A dedicated operator who knows your firm
- Works inside your existing stack: custodians, QuickBooks, Sheets
- One monthly rate, no hourly billing. Pause or cancel anytime.
We build it, you own it
We scope and build the automations that run the work. You own the system outright, and it keeps running without us.
- A scoping call to map the workflows worth automating
- Custom automations built to your firm's process
- You own the system: no lock-in, no per-seat fees
- A custom dashboard over the systems we connect
- Full handover so your team can run it
- 3 months of maintenance and support included
- Optional care plan after, at a reduced monthly rate
Run it or build it. Both start here.
Join the waitlist.
We are taking a small number of firms to begin with. Leave your email and we will come back with what we would handle, on what cadence, and what it costs.