WAKE UP PRIVATE CAPITAL!!! Without question - the Private Capital sector needs a wake-up call when it comes to it's adoption of Technology. It's not just amongst the worst I've seen in over 30 Years in the tech sector - it IS THE WORST i've seen in 30+ Years! That's why I started Asset Class. When I looked at the sector I saw the NUMBER 1 tool being used to manage funds = EXCEL!?! And I'm not just saying that for dramatic effect. I speak every week with firms that have the absolute minimum in terms of their own tech stack in place, while managing the financial future of Millions of Pensioners, Multi-generational wealth that requires protection, the future college funds for retail investors and more. in MOST cases I've seen - Private Capital firms are outright neglecting their responsibilities to service and support their LP's. It's not acceptable. How exceptional is it that a Private Capital firm relies on a tool that was first launched in 1985? The answer is - for many it's not the exception - it's the rule! Not only is this lack of care costing (the vast majority of) firms in the private capital sector millions and millions of dollars in unnecessary fees (for extra manpower and wasted productivity that could have been addressed by INVESTING in technology for it's FRONT, MIDDLE and BACK-OFFICE), but more importantly, it's diluting returns for LP's who I suspect would be shocked at how little time, care and attention is given to the deployment of secure, connected and productivity-enhancing systems ON THEIR BEHALF. WAKE UP PRIVATE CAPITAL - because if you don't, history tells us - the weak falter, the strong survive. As a parting thought..... Is this lack of investment in Tech by the Private Capital sector the reason we are seeing such concentration of investment in a decreasing pool of larger, tech-enabled, forward looking Private Capital Allocators??? At Asset Class we can help. We build, deploy and support WORLD CLASS solutions for the Private Capital Sector to help you raise capital, deploy it and support your LP's and Asset's with the TLC and attention they deserve. Let's talk. Learn more at : https://lnkd.in/ewrsEKc
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7moA CALL TO ACTION!