In the latest episode of The Connector. Podcast, Koen Vanderhoydonk speaks with Crispin Rolt from Performativ, a company focused on wealth management software. The discussion takes place live from the Investment Summit in Brussels, where Crispin shares insights into the origins and growth of Performativ, as well as the challenges and opportunities within the wealth management sector.
Crispin explains that Performativ was created out of a need for a comprehensive software solution that addresses operational issues faced by wealth managers. After struggling to find an existing platform that met their needs, Crispin and his co-founders decided to build their own. The aim was to develop a user-friendly product that consolidates data from multiple custodians, utilizes machine learning and AI, and minimizes operational costs without requiring on-premises IT infrastructure.
The conversation then shifts to the journey of Performativ since its inception. Crispin highlights the progress made over the past three years, including the successful onboarding of clients in Scandinavia and their recent expansion into the Benelux region. He emphasizes that their core product has been well-received and that the company is adapting to meet the specific needs of new markets.
Crispin also discusses the differences between asset managers, wealth managers, and family offices. Asset managers focus on managing money within a fund, while wealth managers take a more holistic approach to an individual's or company's overall financial situation. Family offices, whether single or multi-family, aim to provide tailored financial services to affluent families.
Addressing the challenges faced by their clients, Crispin notes that one significant hurdle is the resistance to change. Many wealth management firms rely on outdated systems that are costly to maintain. Performativ aims to demonstrate that modern wealth management software can be as user-friendly as familiar platforms, such as social media profiles.
Throughout the episode, Crispin expresses a commitment to learning from the investment summit and engaging with potential clients. He acknowledges the importance of remaining open-minded and responsive to market needs, especially as they expand their presence in new regions.