Show Summary — Episode 23
Erin Hulse speaks with the CEOs of PCR and Aleta. Last year, Aleta’s CEO moved from Denmark to New York to lead the company’s expansion. PCR, founded in 2002, also relaunched last year with a new leadership team and a new strategic direction. Together, the CEOs share how things are going and the response they are receiving from the family office community.
About the Moderator
Erin Hulse, Founder & CEO, Deviate Consulting
Erin Hulse is the Founder of Deviate Consulting, LLC, advising single and multi-family offices on software selection, implementation, and accounting. She brings experience from Plante Moran, Bank of America, and SEI / Archway Family Office Services and has led Deviate Consulting since 2015.
PCR
PCR is a financial data aggregation and managed services firm serving family offices, wealth managers, and financial institutions. The firm specializes in collecting, normalizing, and reconciling both custodial and alternative investment data — including structured feeds and document-driven private markets information. PCR delivers complete, accurate, and controlled data that powers reporting, performance, risk analytics, and downstream wealth-tech platforms and Family offices.
Represented by Ranjan Mishra, CEO
Ranjan is the Chief Executive Officer of PCR (Private Data Aggregation), a leading provider of financial data aggregation and managed services for wealth managers, financial institutions, wealth-tech platforms, and investment professionals. With more than 25 years of experience in financial technology and services, Ranjan has led global teams across operations, client service, and business growth. As CEO, he is guiding PCR through a period of transformation, expanding its technology capabilities, global delivery model, and focus on solving complex data challenges for high-net-worth and institutional clients. Ranjan is known for his strategic leadership and his commitment to helping clients unlock better insights through trusted, high-quality data.
Aleta
Aleta is a modern data and reporting platform for family offices, designed to centralise financial information, streamline reporting, and improve data visibility across entities, asset classes, and stakeholders. It helps teams move away from manual processes and fragmented data toward more timely, structured, and decision-ready reporting.
Represented by Ken Gamskjaer, CEO
Ken is the CEO and Co-founder of Aleta, a next-generation wealth platform for family offices. With over 15 years in wealthtech, he helps family offices simplify complex portfolios and build future-proof technology for the next generation of wealth owners.
Podcast
Read the takeaways
In modern family office tech, the winners won’t be the best interfaces — they’ll be the ones who own, clean, and control the data. This conversation gave us some food for thought: in family office tech, flashy dashboards are everywhere — but clean, complete, and trusted data is still the hardest problem to solve .
1. Data is the product (whether you admit it or not)
- 95% of your data is fine — the missing 5% creates 90% of the work.
- Aggregation isn’t just collection — it’s validation, reconciliation, and accountability.
- If the data isn’t right, everything built on top of it (AI, reporting, insights) is unreliable.
Bottom line: Data integrity is now the core infrastructure of wealth tech.
2. AI is useful — but only in the “boring” places (for now)
Forget the hype. The real value today:
- Reading messy, unstructured documents (K-1s, capital calls)
- Automating data extraction and reconciliation
- Reducing manual grunt work at scale
What’s next:
- Natural language queries (“What’s my liquidity across entities?”)
- AI agents sitting on top of multiple systems
But the catch is simple: AI is only as good as the data feeding it. Garbage in, hallucinations out.
3. Best-of-breed is winning (and killing the all-in-one dream) –
The “one platform to rule them all” sounds great, but:
- Most all-in-one systems can’t do everything very well
- Innovation is happening in specialist tools (accounting, reporting, CRM, etc.)
The shift:
- Modular stacks
- API-first architecture
- Interoperability over lock-in
The future stack = flexible, replaceable, and connected.
4. Implementation is where good intentions go to die
Buying software is easy. Implementing it isn’t:
- Simple setups: 4–8 weeks (best of breed, not an integrated system)
- Complex legacy migrations: 3–6+ months (or longer!)
- The real challenge: messy historical data and unrealistic expectations
Common reality: Everyone wants “inception-to-date”… until they see the cost.
5. Outsourcing is no longer optional — it’s strategic
Family offices are waking up:
- Data collection and reconciliation = non-core, low-value work
- Insight, decision-making, and reporting = where value lives
Outsourcing trends:
- More adoption, especially in lean teams
- Time-zone advantages and scale
- BUT with a twist:
Outsource the work, not the data ownership.
6. Owning your data is becoming non-negotiable
A major shift:
- Firms want control of their data (often in their own warehouse)
- Even when outsourcing processing
- Vendors are expected to be data stewards, not data owners
Control + flexibility = the new standard.
The Big Picture
This isn’t a UI race anymore. It’s a data infrastructure arms race:
- Who can deliver complete, timely, accurate data
- Who can make that data usable across systems
- Who can unlock it with AI — safely
Everything else — dashboards, workflows, even AI — is downstream.
