Case study

Papo Group unlocks transparency and a unified picture of wealth with Addepar

Since inception, Dominican Republic-based single family office Papo Group has sought to preserve and grow capital with long-term investments across diverse strategies and asset classes. In late 2021, after decades of investing, the group transitioned to a formal family office structure, and today concentrate their efforts on growing and uniting wealth for future generations. 

Soon after their founding, Papo Group realized their tech was holding them back. A wide range of investment types held by multiple different managers; a small team limited by legacy technology; a pressing need for sustainable growth strategies — it was clear an upgrade was imperative. They had heard of Addepar through their network and, after some research, determined it was the right solution to elevate their efficacy.

THE CHALLENGE

Combating inefficiency and seeing the full picture

As Co-CIO and COO of Papo Group, Manuel Jose Rodriguez’s challenge was two-fold. Beyond his responsibility developing strategies to protect and grow wealth, he also had to ensure that all family members were aligned on goals. Achieving both would require transparency into holdings of all types, alts included, and the means to convey it clearly to all.

Before, I had a static picture with all the line items, but it was never the full story. Now, with Addepar, I have a dynamic, real-time view under one umbrella, where everything seamlessly feeds into a single dashboard — one username, one password. It’s exactly what we needed: a solution that also felt both secure and flexible.

Manuel Jose Rodriguez, Co-CIO and COO, Papo Group

Prior to Addepar, Papo Group saw an opportunity to improve their wealth management processes. Spreadsheets sat at the core of their operations, and the structure and efficiency of their reporting needed transformation. Legacy systems demanded considerable manual data entry and offered limited capabilities for analysis, modeling and projections, spreading Manuel’s efforts thin. Instead of focusing fully on formulating and adapting investment strategies, time was spent on tasks like gathering statements, accessing investment portals and consolidating data from various sources.

With Addepar, Papo Group has experienced:

75%

time back in the day that 
had previously been spent 
on manual tasks

100+

analysis views created 
that are used for 
performance analysis 
and risk management

100%

focus on investments 
during market hours 
due to Addepar

THE RESULT

Clarity, confidence and stronger communication

Onboarding new technology can be worrisome to firms, but the high-touch onboarding and implementation process Manuel found with Addepar made the office’s transition easy. He formed a meaningful relationship with Papo Group’s dedicated Addepar Client Success Manager (CSM), and through continued partnership post-implementation, receives advice on Papo Group’s growth and trajectory, assistance building strategic industry connections, and key information 
on platform usage and updates, in addition to general support. 

Almost immediately, Manuel saw improvements in operational efficiency, beginning with time back that had previously been consumed by manual tasks. He estimates 75% of his day has been freed up — which he now spends on higher-value activities like conducting analyses and cultivating relationships with investment managers.

The ability to create custom analysis views has offered Manuel deeper insights into asset performance than ever before. “I’ve created over 100 analysis views, half of which I use daily, weekly and monthly for performance analysis and risk management. I can easily track performance by account and asset class, and monitor transactions across the board — not just through rows and columns of numbers, but also with visuals that highlight cash flow projections and risk graphs showing correlations, beta and alpha. This has enabled me to thoroughly dissect and evaluate performance, allowing me to keep my eye on the ball and my finger on the pulse when it comes to investments.”

Further, quick-to-build, customizable reports let Manuel deliver a bespoke picture of finances to family members when they need it. He’s been able to be granular and succinct at the same time, with monthly and quarterly reports boiled down to the exact graphs and filters needed to best display critical information. This has led to better conversations, more transparent communication and, in turn, an alignment on goals. “Family members ask a question, and I can give them an answer, a data-driven answer, a quick answer, a right answer.”

In addition to the Addepar platform, Papo Group also opted for the forward-looking projection tool Addepar Navigator, which has proven a powerful asset. With Navigator, Manuel has been able to maintain the necessary cash on hand to meet capital calls while adjusting his strategies in step to do more with the available liquidity, helping to build out a more robust portfolio and, ultimately, maximize returns and mitigate risk.

Before, I felt like I had one hand tied behind my back. That's what prompted adopting Navigator: the ability to have all that data from different funds and know this is actually real data. I can’t imagine if we didn't have Navigator — our commitment sizes wouldn’t have 
been optimal.

Manuel Jose Rodriguez, Co-CIO and COO, Papo Group

Papo Group’s investment in Addepar and Navigator has been a transformative one, with the SFO now benefiting from better visibility into portfolios, a unified picture of wealth and a centralized platform and partner to deliver robust analysis, reporting and modeling. With Addepar, they’ve successfully been able to see to their mission of preserving and growing capital, and can continue to look forward to dedicated partnership, support and innovation.