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Case Study
How Masttro Helped Build An Agile Single Family Office Infrastructure
Jefferson River Capital is a New York City–based single-family office managing a $1B+ portfolio across public and private markets, built over 30 years by a lean, experienced team.
Jefferson River Capital is a single family office (SFO) in New York City with an over $1 billion portfolio across public and private markets. The family has been investing and growing a diverse portfolio for over 30 years, yet manages to operate with a small team.
Daniel Forman joined in 2022 as Chief Investment Officer and brought extensive family office experience, particularly in building out middle office systems. One of his first projects was to upgrade their technology, specifically to help track and report on the complex portfolio of both traditional and alternative asset classes.
“The mandate was to invest, get the house in order, but build a world-class, small and nimble infrastructure,” said Daniel. “And the portfolio management system is the key to that.”
The Technology Solution That Provides the Most Comprehensive View of Wealth
As is the current and growing trend for family offices worldwide, Jefferson River Capital has continued to increase its exposure across various types of alternative investments.
“I would say politely, there’s not an investment type or structure that we don’t own somehow,” said Daniel. “So we needed a system and a platform that could manage liquids and illiquids, straightforward and non-straightforward, and a very complicated estate entity.”
Daniel notes they chose Masttro for its ability to handle their demanding tracking and reporting requirements, but also because of how it fully visualizes their assets and included practical support from the start.
“Getting the information and having a single source of truth that’s always accurate, having really good customer service and support were all important, because we were a small team.”
“Visually, from a user interface perspective, this is by far the easiest platform to add assets and to see our family mapping.”
Daniel Forman
CIO, Jefferson River Capital
“Once we understood Masttro and got the training that was necessary, uploading a portfolio of more than two hundred alternative investments was pretty seamless, said Mitchell. “In three months or less, we were able to input all that and start tracking performance in the way that we wanted to.”
AI-powered Software Capabilities Combined with Personal Support
Masttro’s Doc AI feature has allowed the team to automate much of the repetitive work involved in investment reporting. Doc AI automatically handles document collection, classification, and even analysis for key data points, meaning that regardless how many individuals, trusts or accounts involved, it solves complex mapping requirements and saves time.
“It can be difficult with a different system to tag capital calls and distributions in a seamless way,” said Mitchell. “With Doc AI, we’re able to tag it appropriately, get the date in, get the amount right, and map it and reconcile it to our bank accounts accurately. It does a really good job of integrating that all together."
Support is a fundamental part of implementing new technology and Mitchell stresses how this is another area where Masttro has set themselves apart from others in the software industry:
Tangible Results, Trusted Support
Since implementing and gaining familiarity with Masttro, the results have been tangible in key areas, such as tracking performance of alternatives in real time and being able to present that data when and wherever needed. But as Daniel emphasizes, Masttro is a wealth management platform that delivers a complete family office software solution.
“We use a couple other platforms, but with those we don’t have a representative who is consistently reaching out to us on a weekly basis, setting up meetings, talking through what our problems are and resolving issues, so I appreciate that with Masttro.”
Support is a fundamental part of implementing new technology and Mitchell stresses how this is another area where Masttro has set themselves apart from others in the software industry:
“We use a couple other platforms, but with those we don’t have a representative who is consistently reaching out to us on a weekly basis, setting up meetings, talking through what our problems are and resolving issues, so I appreciate that with Masttro.”
Since implementing and gaining familiarity with Masttro, the results have been tangible in key areas, such as tracking performance of alternatives in real time and being able to present that data when and wherever needed. But as Daniel emphasizes, Masttro is a wealth management platform that delivers a complete family office software solution.
Being able to customize how they group and categorize investments to suit their specific perspective was a crucial factor in determining what platform to implement. Another was privacy, which is where Masttro’s military-grade security protocols deliver reliability second to none, with Masttro not having visibility to client data.
Aside from solving these challenges, Masttro’s user interface design and capabilities have played an instrumental role in providing an effective solution.
“Visually, being able to see the net worth and the balance sheet both horizontally and vertically was something that was really hard,” said Daniel. “Your competitors didn’t have that, and what caught my attention the most was the mapping of onboarding our assets on your landing page in the Global Wealth Map.”
“Masttro has allowed us to have a single source of truth for all of our investments, which is critical and enables us to execute a world class, institutional quality middle office infrastructure.”
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