Thought Leadership / Featured / Joint Venture with Fusion Financial Partners
Fusion Financial Partners has expanded its suite of offerings for RIAs with the launch of its new Fusion Technology Solutions department, a joint venture partnership with Mirador, LLC, a leading provider of bespoke portfolio-performance reporting solutions. Prior to forming this partnership Fusion and Mirador worked together serving RIA advisor teams, Fortune 500 companies and large multi-family offices. The two firms are currently approaching their twelfth joint client engagement.
“Fusion is expanding rapidly due to client demand. Adding a technology component to our RIA launch and ongoing growth services was an obvious need,” explains Kimberly Papedis, President, Fusion Financial Partners. “Over the last few years together with Mirador we have launched RIAs, built national RIA platforms and served the UNHW family office space. The launch of Fusion Technology Solutions answers a need for existing wealth management firms, breakaway teams and large national RIA platforms to solve for the complex architecture design and ongoing operations of the FinTech and office IT management.”
The current partnership grew out of the efforts of Fusion and Mirador to combine Mirador’s proprietary ’15 tech decisions rubric’ and Fusion’s proprietary ’15 launch decisions rubric’ to create ScoreCard , a one-day workshop that serves to evaluate RIA launch and FinTech decision criteria. There are many complex considerations involved in launching a new firm and choosing the right technology to support it.
ScoreCard gives advisors objective criteria to evaluate the important decisions involved in launching or auditing an RIA. The full day of consultation is designed to facilitate decision making about 30 critical topics and result in a plan to complete the process. What used to take 6 months of investigation or multiple conversations with potential platforms now takes a single day.
After creating ScoreCard, the relationship between Fusion and Mirador evolved into a true partnership that brings together all the components needed to launch, grow, and run a wealth management firm of any size.
“Bringing Mirador and Fusion together provides a comprehensive solution under one umbrella bringing state of the art, institutional grade technology resources for firms of all sizes and marrying that to the launch and growth services Fusion provides,” said Joseph Larizza, CEO and Founder, Mirador, LLC.. “While other firms offer outsourced CTO services, we have created an entire department to remove the execution risk from the IT Tech Stack and as well handle ongoing operations for a firm’s entire technology suite. This isn’t a platform where everything is bundled, whether you need it or not. Firms only pay for the bespoke solution put together for their unique needs.”
In addition to support from the 40-person team at Mirador, Fusion has bolstered its commitment to the effort by adding two professionals to the Fusion Technology Solutions department. As National Director of Technology Solutions Brad Frey, a former financial advisor with extensive fintech background, is responsible for ensuring Fusion’s launch services and technology solutions mesh seamlessly for RIA and corporate clients. Brad will coordinate and oversee discovery days for clients and continue to assess new tech solutions as they become available. Also joining the tech team is Maxwell Alles, Director of Expert IT Services and Procurement.
“Having the right technology can make the difference between a firm succeeding from day one or struggling to find its feet,” added Brad Frey, National Director of Technology Solutions. “The partnership between Fusion and Mirador, the creation of tools like ScoreCard and the ability to create bespoke solutions for the wealth management community is very exciting and I’m proud to be a part of it.”
The Fusion Technology Solution Department delivers unbiased, bespoke solutions to independent RIAs either via the one-day ScoreCard workshop, or through an ongoing engagement to solve for all of a firms’ technology needs.
About Fusion Financial Partners
Fusion Financial Partners (www.fusionfinancialpartners.com) is a premier consulting firm specialized in the area of transformative business consulting for RIAs. Fusion acts as an advocate, educator, tactical guide and negotiator for advisor teams and national organizations looking to enter or expand in the independent wealth management industry.
Mirador, LLC, (www.miradorllc.com) the leading provider of bespoke portfolio-performance reporting solutions for high net-worth families & family offices, wealth management firms and endowments & foundations, combines powerful data science and deep financial expertise to provide best-of-breed financial reporting services for U/HNW investment portfolios. The firm has offices in Connecticut, New York, Salt Lake City, and Dublin, Ireland and supports the performance-reporting requirements of Family Offices, Wealth and Asset Managers, and Foundations throughout the United States, Western Europe, and Latin America.