The Family Office Sherpa 13 Less Obvious Speed Bumps When Building Your Reporting Infrastructure
Sep 14, 2025
Navigating reporting software can be trickier than expected. From custody issues to data feed reliability, there are hidden pitfalls at every turn. Pricing models often obfuscate true costs, and vendor dependence can create risks. It's crucial to differentiate between accounting and investment records, while careful onboarding can help manage expectations. Remember, not everything will be automated, and some manual oversight is necessary. When building your reporting infrastructure, anticipate change and account for total costs!
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Map Custody Ownership First
- Many family offices lack a single custodial source of truth for assets and reporting.
- You must map ownership of custodial accounts before assuming data feeds will deliver your data.
Reconcile Data Feeds Frequently
- Reconcile data feeds regularly because they are not set-and-forget.
- Use checks like IRR, time-weighted returns or money-on-investor-cap to validate feeds.
Big Asset Size Mispriced
- Shaun described a client whose large asset size was mostly two single stocks and triggered higher fees.
- The vendor priced complexity by asset size which misrepresented the true service needed.