Preferred Return Podcast

Improving Investor Confidence: The Power of Expert-Level Support for Private Equity Platforms


In this episode of Altvia’s Preferred Return Podcast, Harold Klett, Altvia’s SVP Global Services, discusses the benefits of partnering with a solutions provider that offers technical account management for private equity firms — improving investor confidence and strengthening the relationships between GPs and LPs with a private equity platform backed by expert-level support.

Harold also discusses his career in the professional services industry, what it takes to build a world-class support team, and his and Jeff’s shared love of Jimmy Buffet.



In this episode of Altvia’s Preferred Return Podcast, Harold Klett, Altvia’s SVP Global Services, discusses the benefits of partnering with a solutions provider that offers technical account management for private equity firms — improving investor confidence and strengthening the relationships between GPs and LPs with a private equity platform backed by expert-level support.

Harold also discusses his career in the professional services industry, what it takes to build a world-class support team, and his and Jeff’s shared love of Jimmy Buffet.





Jeff Williams: Welcome to Altvia’s Preferred Return Podcast. I’m your host, Jeff Williams. Today I’m with Harold Klett, SVP Global Services here at Altvia. Harold, thanks for joining me, man. Uh, you joined the company in July of this year. 

Harold Klett: Yeah, yeah, thanks for having me on. Yeah, it’s, uh, I think I’m coming up on three months just as we speak here. Great to be here and, and, uh, and honored to be on your podcast. 

Jeff Williams: Oh, well, thank you so much. Um, thing I’m gonna say about you, Harold, is when I got a chance to interview you, as, uh, you were considering coming to work here, and We did a remote interview. First off, you’re in, um, Cape. Yep, Cape Cod. We’ll talk about how you got there.

Um, but we did a, uh, remote Zoom interview, much like this one. And I gotta say, I left the conversation sort of feeling like, Whoa, you were like, you know, you and I, uh, have been living, you know, in many ways, pretty parallel paths, doing similar things at different companies. And then all of a sudden our paths crossed and it was sort of interesting to be, uh, talking to you.

So I want to, uh, dig into that, but maybe that on that note, tell us a little bit about your career, man. Where, you know, where’d you start and where’d you go and how’d you get there? 

Harold Klett: Yeah, it’s been a long and interesting ride so far. So, um, actually started in, uh, with a small startup company based out here on Cape Cod.

Um, and I started in the services organization. I was the first support engineer and we were selling, I’ve been in enabling technology. Most of my career, all of my career. So software, hardware technology, this company was selling into, uh, the telecom telecommunications space. So, uh, it started there, geez, almost 30 years ago.

And, uh, we grew that company, uh, up from. I was probably in the first 30 employees. Uh, we grew that up to about 500 people and, uh, through multiple acquisitions went public, and then we were acquired by Lucent Technologies, uh, the end of the nineties. So, uh, I headed up all of their services. So we had, uh, deployment services, training, tech pubs, implementation, all of that.

And then I took the opportunity to move into engineering. As, uh, we went into, uh, Lucent Technologies. So ran engineering for a bit there and then moved into product management, uh, with our soft switch organization. And, you know, ran that, learned a lot about, about the market, about the clients, and then ultimately we spun back out of Lucent.

And went through a variety of acquisitions and hence was acquired after that. I ran product for the new organization, and then I ran the service provider business for a company called Dialogic that was in the telecom equipment space. The company I started with was Excel Switching. And, uh, about 10 years ago now, uh, left Dialogic, was really looking to get into, uh, FinTech, into SaaS, get more exposure into the enterprise markets.

And, uh, I left there, I moved to, uh, Interlinks, which is in, in our space as well. And, uh, went there to really form their professional services organization and custom engineering solutions in a variety of different verticals, uh, including alternatives. Thank you. as well as, uh, banking and, and, um, and M&A.

And so we, uh, we ran, you know, grew that business, did a whole bunch of different solutions there, and Interlinks was acquired by SS&C a few years after that. And, uh, there was an opportunity for me to move into the SS&C organization and run the professional services and support for their alternative assets products.

And, uh, this is kind of where some of our paths cross, right, is, uh, Those products really were, you know, more back office, a bit of back office, and then some middle office and front office, uh, fund accounting software, mostly private equity and hedge funds, real assets as well, and, uh, an LP portal as well, you know, serving, uh, the GP/LP relationships from those, uh, those systems and the interconnection from those systems, uh, so spent a good amount of time there also with our fund admin business, supporting that business as well.

And, uh, and then recently this past spring had the opportunity to, uh, meet with Altvia and, uh, decided to left SS&C. And came over and joined the Altvia team and we’re on our way. 

Jeff Williams: Indeed. There’s, there’s a lot in there. Um, we were talking to, before we, uh, started the tape about DSP and an audio processing and stuff.

And so go, go back to all the way to, um, Excel switching in 1994. Well, what was going on with DSP? I’m personally curious because we’re going to get to this. You and I have spoken before. We both enjoy music. One of the things that I’m fascinated by, um, these days is what, um, some of the sort of hardware companies and, and even companies that have been around a long time, like from the fifties and stuff like universal audio, which made studio hardware equipment, stuff, what they’re doing now with, um, the ability to bring basically all this, you know, legacy studio recording equipment into like these little boxes, um, and, um, That are loaded with DSP processing and apply models of effects and signal processing and all have it, you know, sort of run real time because it’s offloaded from your computer and stuff.

So the topic of DSP is a massive one. I’m kind of curious what your take on DSP is. 

Harold Klett: Yeah. Um, well, so back, back when I started with that, uh, that startup company was really about bringing, you know, media rich applications into the telecom networks that didn’t exist before, right? You had switching, you made phone calls, you know, it wasn’t that interesting and then you, you really wanted to bring in things like conferencing, central office, voicemail, you know, applications that ISVs and OEMs would create and then bring to the telecom networks.

Because they didn’t inherently exist. So, really about taking, you know, rich media and putting it into those networks. Uh, as that evolved over time into IP based networks and, and IP media processing and things of that sort, you know, video comes into the equation. And audio mixing and, uh, different types of, of manipulating the audio and, and overlaying it on the video.

And so, as we moved into sort of soft switches and media servers, Um, that all came in. So, uh, you know, DSPs, it’s, it’s interesting from a standpoint of not just the hardware pieces, um, but what’s being done in software as well today. Right. And just actually, you know, getting sort of rich media and combining that at a very high quality and high quality output and being able to mix that and, and, uh, and do that real time in many cases.

Jeff Williams: A lot of stuff we take for granted. Yeah. So it is in high technology. Yeah. Um, I want to go back and talk about music for a minute, but before we do, I want you to kind of, um, lay out, uh, a little bit of your role here. So I mentioned your SVP global services. I know what that means. What, what do you, what does that mean for, for others?

And especially for any customers we have that are listening, love to kind of help them understand exactly where you’re at and what you’re up to. 

Harold Klett: Yeah, no, great. Uh, cause I’ve, I have been in the service organizations most of my career and it’s all really about. You know, wrapping around our customers and their experience and their objectives and making sure that we’re doing all those things that are necessary to make them successful and create a really good partnership between, uh, Altvia and our clients, because it starts there.

So, uh, my organization is, you know, global services, but we really start from the point of, you know, the beginning of the relationship. You know, onboarding and implementing our software in partnership with our partners and, um, running through the support after we’ve done that. And also we have a technical account management capability that, uh, we can talk further about, about overlaying as, as they’re evolving, uh, for when their business needs change, really working with them side by side in their organizations about achieving those goals and, and, and managing the software. So, uh, really runs the gamut from sort of beginning to end. Uh, we can drill down, I think in, in various areas, I’d love to talk through sort of what we do in each of those.

Areas and how that kind of benefits the clients, because in some cases, is pretty unique, um, in the industry. 

Jeff Williams: Yeah, no, for sure. Let’s do, um, so maybe we’ll start that because I do want to kind of use that. You’ve obviously worked in organizations that are omnipresent in this market. Um, and yet just there, the comment of, you know, it’s really pretty different.

Explain that. 

Harold Klett: Um, so I guess I’ll take two, two legs to that stool. Um, one of which is just Altvia as a company and its culture and how we go about, um, engaging with our clients. Cause one of the reasons I came here was, really to get back to that, that sort of startup environment where we’re very closely paired and really understand, you know, our customers and what their needs are and how to make them successful.

And that kind of underlies really how everybody engages. And from my team’s perspective, really starting with the implementation, uh, you know, I’ll say it’s a little bit, you know, different in the respect of we really go into it. The software is incredibly powerful and we used to say back where I worked before the good news.

Good news is something’s programmable. Bad news is it’s programmable, right? It can be everything to anybody or nothing. You really want to make sure it’s really easy to use and that people get the value out of it. And so in the first steps of the implementation is really about sitting down and saying, what are we trying to achieve?

How do we actually, how do you run your business? How do we fold into that to make sure that you achieve the efficiencies you want, that you’re actually getting the benefit and getting the benefit quickly out of the software. And then moving forward. So we really take the approach of, you know, getting, you know, the information into the system and get hands on keyboards quick to get value immediately out of the system.

And then look at how we’re tailoring that to their needs any custom objects custom fields data that they’re that they have that they’re tracking that maybe others don’t maybe it’s unique to their business. We really take a data first kind of view at that. Um, and get, you know, that into the system, but then there’s another piece on the data front on implementation.

Um, we ultimately are working with people that have different, uh, spreadsheets and other systems and other things that all this data is coming out of. And a lot of times it’s, it’s disparate data, it’s overlapping and, uh, we’re able to actually provide, you know, data services to bring that in. Uh, map that data, bring that data into the system, clean it up and get them really where they need to be, uh, effectively day one.

And I think the next piece that we really focus on is really how do you unleash that data, right? So the, you know, the. The business intelligence of it, but some of the technology that we use really data is in the system. It’s being managed. It’s being reported on. But then how do you actually expose that in such a way that you can actually run your business and achieve results.

And, you know, what’s unique, I think, with how we do that is we’re really lockstep, you know, with them. We understand their business. It’s not about just implementing our software. It’s really about understanding their business and how to implement a solution that works for them. 

Jeff Williams: Yeah, you know, you and I were talking about the data thing.

It’s interesting because if there’s one step of the process, well, you know, everybody agrees, right? The data is super key and nobody wants to have to rekey in all this data that they’ve already got somewhere. Um. So it’s a logical, you know, thing to bring with you. And, and yet if there were like one step that the people might understand, and I’m sort of projecting and painting with a broad brush, but like many people in our market that we interact with and customers and stuff are really good with Excel.

And, and, you know, it’s like, Oh, you need a shopping mall. I’ll build one in Excel kind of thing. And so, you know, the, the thought of, um, okay, well, we’ll take this data and sort of, you know, if it were me. I’m one of these people, it’s like throw it into a pivot table and, you know, start deduping it and doing whatever else you will with it.

Um, you know, the, the data is so key and I think, you know, you, you highlighted our data onboarding experiences, extremely different. And I, you know, took me a minute to kind of really see inside the yogurt machine and understand that, but the stuff that, that we’re able to do quickly and, and the stuff we’re able to catch that, um, you, you know, you don’t know, you don’t know about, right.

So you kind of need like a programmatic way to, to turn up like, Oh, well, this, you know, here are some sort of flags about, um, the data and stuff like that, that, uh, you should be aware of, because it’s one thing to know what, um, you’re looking for and go find it. But, um, what we, what our team does with data is really pretty exceptional. And I, you know, not, not a ton of people really get to see in the hood, especially not the prospects that we’re talking to till they get into the experience. But yeah, I mean, what, what would you say about the sort of novelty of what we do there?

Harold Klett: Oh, I mean, I think you said it right is a lot of people don’t see that and don’t understand the complexity of that.

And actually the implications of it, of what’s done behind the curtain. And so to be able to actually, you know, do that and start with a pristine set of data, right, as you’re, as you’re implementing some of our tools to deal with the deal pipeline to deal with, you know, uh, investor relations, um, you know, we’re able to do that very quickly if, you know, we have had clients that go off and try to clean that themselves, right?

And, and, uh, obviously you want it as clean as possible. And we work in partnership to understand what that is. But in some cases that means, you know, hiring an Excel doc guru to go do that for you or, or, or having people that have a day job, go off and clean up data. Right. We really can get in there and help do that with some of our tools that make it very quick to say, you know, here’s where the duplicates are, here’s where we need to merge things and system, get the data in very quickly.

Jeff Williams: Indeed. One of the other things that I, I know people, um, have appreciated over the years of building the business is the, so, you know, the, the people element. And I think, you know, a lot of companies say this, especially in this geographic area near Boulder with a bunch of, uh, startups, it’s like, Oh, you know, culture is so important and, you know, the definition of culture is well beyond the scope of, of this podcast.

It’s been discussed in many other places much more thoroughly. So, you know, it’s, it’s different for, for each place, but, you know, I think that. One thing people have asked me over the years is how do you define the culture? And, and I typically go to some sort of basic definition of like, it’s a bunch of people who just genuinely want to help.

Like they didn’t, you know, necessarily, maybe they came, some of them came here for jobs and then they discovered perhaps very early in their career that they really like. Solving a problem for people and, and that, that becomes more, um, fulfilling than, you know, just, just simply a job. Now, this isn’t just me or, or the employees that feel this way.

You know, we routinely hear this from customers and that’s, you know, a big sort of, you know, strategic weapon for us to, uh, to, you know, when, when new customers, when, especially when they talk to, you know. Customers of ours, and we don’t even introduce them in this area. It’s great. And also this is really the team that does that.

And it starts with, um, you know, that the, the relationship I suppose starts with like sales, but then it, you know, immediately kind of gets into the nitty gritty with this team, but all the way through to support, you know, and, um, I don’t want to. To lose sight of that because the implementation is just a small, you know, sort of window of time on the spectrum of a customer relationship.

The support one is far longer and ongoing. And, um, we love the team. The customers love the team. It’s a, um, amazing part of the business. It’s still exists very organically today. And, and the culture is very strong there. 

Harold Klett: Yeah, no, our support team is, is amazing. Right. And, and, uh, you said it like when the implementation is done, the relationship doesn’t stop there.

A lot of, a lot of times people will say, okay, you know, you’re, you’re up and running. Go for it. Right. Uh, but business needs change. Uh, people need, you know, get new people on board and need to be trained. Uh, there’s new fields, new, new metrics have to be, uh, taken a look at, new dashboards that have to be created.

And really our approach is to, is to really look across all of that and understand that everything changes. The beauty of the, of the solution is that it can be tailored to those changes. And so, when we actually hand off through implementation, Our CSMs are there, you know, day one through that to have relationships with our clients to manage those.

Uh, the support organization gets brought in so they understand how it was implemented and how the clients are using it and they can then assist our customers in. You know, adding new reports in, in doing some administration of the system in, uh, in training, things of that sort. So the supporters nation, uh, they’re very, very responsive, uh, very caring.

And I think, like you said, you know, that, that culture piece going back to it, you know, one of the main reasons that I came, I talked about starting in this, in this startup years ago, and it was very much that type of a culture, which was everybody doing what was necessary to make our customers exceed because if they did, we did right.

And everyone, you know, had a piece of that. And, uh, it’s rare to find that in the industry. And, uh, and I found that, that, that all via and that the team is, is really, really, really plugged in. So I really appreciate that. 

Jeff Williams: Yeah. So lucky. That’s not hard, or it’s not easy to do to keep that sort of culture going and a lot of it, like I mentioned, is sort of organic and people sort of take it with them and do what they may with it.

And it evolves very beautifully. And yet the sort of core of it remains. So it’s super cool. We’re very fortunate to have folks that are good stewards of that. Um, you mentioned this TAM, what we’re calling TAM and that’s an acronym for technical account management. That’s a bit of an extension of all of these things.

So I guess in a way, you know, the, the market and our customers have told us that, you know, the, the sort of services and the folks that we have on the team are so helpful and so good that. There must be ways to, to get even more of them. And so, um, you know, this is a very popular offering as of late. Um, and it’s been discussed a little bit on, on the podcast before. Let’s hear your take on technical account management, TAM. How would you describe it? 

Harold Klett: I would, I would describe it and it’s really, really taken off. And like you said, is, um, I kind of look at it as, uh, our, our customers having the ability to take, you know, our most knowledgeable senior people and have them.

You know, working for them on their staff for various types of, of activities and projects and a little bit different than say, you know, a project where you scope it out and you, you know, you satisfy that maybe through implementation or consulting, um, the technical account managers really are assigned to that, to that customer, right?

And they get really in there. They understand how the system works, how the customer does their job. They become the trusted advisor to do solutioning solution architecture of the system, be able to do some administration of the system, manage things like, you know, data that comes in and, and how that should be populated in, give advice as to how best to optimize it given some of the business changes that happen.

So really, you know, I look at that as, as you take, you know, a member of Altvia with all of the knowledge, not only of the system, but really our most, you know, senior folks that have knowledge of the industry. And have them work side by side with your, with your resources, kind of like a managed service in many respects.

We’ve, we’ve called it that sometimes the technical account managers, uh, but really tied into the success of the business.

Jeff Williams: Yeah. For some reason, I, I was just saying, as you were saying that with this, um, construct, it’s a well known framework from which the concept of blind spots comes. And it’s basically a two by two.

And the, um, the basics of it are like what you see. on one axis and then on the other what, you know, the rest of the world sees and where or what, what you don’t see or what the rest of the world doesn’t see. And, um, so there is this intersection of the things you don’t see that the rest of the world does, which are your blind spots.

There’s also what you see in the rest of the world does. And that’s sort of obvious, but I guess I was just thinking about this in the, uh, within that construct. And it, it sort of was like, man, what, imagine what’s possible, right? Like under this sort of traditional, um, you know, customer relationship. It’s sort of like, well, you know, soon as you know what, what it is, we can help you with, you know, let us know.

And, and, um, by all accounts that customers love that we’re extremely helpful in doing that. I think what TAM does is it starts to open up the rest of that grid and to say, “Hey, there might be things you’re not even thinking of that I can see or that I’m thinking of,” and which could be opportunities for us to, to do something ultimately that, you know, starts to kind of all funnel down towards this use of data and technology and a strategic differentiated kind of weaponized, um, way.

Harold Klett: Yeah, yeah, absolutely agree. Uh, cause I mean, TAM see, they’ve got a lot of experience, uh, they see a lot of different ways of doing things and also understand where. You know, the evolution of the product is going and some of the capabilities that are there that can be brought to bear. Uh, we have many, many examples where, um, you know, our customer felt that it was going to be a very arduous um, effort for them to, to track a new, a new asset or a new type of asset. And, um, and the TAM sat down and said, you know, this is, this is how, you know, best practices. And this is what we’ve seen and implemented it very, very quickly. 

Jeff Williams: Yeah. I want to go back to the, um, career. So. Interlinks, I’m just kind of scrolling through here, um, 2014 to 2019.

Obviously that, that was a, some sort of rag. You mentioned, um, towards the end there that, uh, Interlinks of course was acquired by SS&C. What was your time at Interlinks like? I, you know, I largely consider Interlinks to have created one of the product categories I’m obsessed with, um, and was a heavy part of my obsession with it.

To because, um, for me, it all started, you know, probably 14, 15 years ago or so. Um, generally feeling like. The way that information was disseminated from GPs to LPs in this market was probably not going to continue to be that way forever, right? It was a little archaic and thanks to interlinks who kind of created the idea of this becoming digital anyway, was, was in large part, um, a leader that, that helped forge this, but at the same time.

You know, the, the custom and the tradition at that time was to, to mostly sort of just log into interlinks and get a bunch of documents. And that was the specific thing that I felt, uh, was likely to change. So, um, yeah, you can’t really talk about what we’re trying to do in terms of, uh, empower GPs and their relationships with LPs by using technology data to sort of really.

Um, kind of supercharge that relationship and differentiate yourself. You can’t really talk about that with, um, without mentioning. Uh, Interlinks. What was, what was it like to be on the ride there? 

Harold Klett: Uh, I mean, Interlinks is a great company. We, I, like you said, it started in a professional services organization.

At that point, it was, uh, primarily sort of M&A focused with, you know, onboarding enablement. We really sought to kind of expand that, expand it across various verticals, uh, in the alternatives in life sciences at the time and some other verticals as well. And, um, and went down the path of looking at, you know, what, I’ll say custom solutions, but unique solutions were necessary in those areas.

And one of the, one of the things that really, you know, shapes the direction there was around, you know, the focus on that GP/LP relation. Not just a sort of secure transmission of documents, but securely, um, facilitating relationship around those documents in the data. And so, you know, spent a good amount of time building that organization and the ability to, um, deal with APIs and customization.

To, you know, deliver on that promise and then ultimately, you know, the, they went moves, you know, beyond that to some of the product offerings they have today. It’s great. 

Jeff Williams: And then you go on to SS&C and I know because you and I’ve talked about this, but, um, worked very closely with TNR, everyone’s favorite, uh, accounting product, and if you know, you know.

As the kids these days say, but, uh, if you don’t TNR is the next round, which was, you know, I, I guess I don’t know a ton about the origin, but, but my first encounter with TNR was probably in 2005, 2006, I went to work at, uh, Greenspring Associates, uh, at the time, many don’t know, this is a trivia question, Montague, Newhall Associates was the name in any case, um, young, new investment analyst and, uh, worked with, uh, one of my colleagues, Lindsey.

Shout out to Lindsay, um, as she was implementing TNR and, you know, I, I never really interacted too much with it, but you just heard TNR all the time back then, and it was as if to suggest it had, you know, anything and everything. And, um, and then I started to more regularly kind of get. You know, data downloads and exports and stuff, data from, um, TNR.

And it was, it was great. So, you know, I think there were, you know, complaint here and there about this sort of resources it took on your local machine with the server and stuff like that, but, uh, yeah, I, you know, what, what’s your take on TNR? You worked with it closely. It must be a bit of a baby of sorts.

Harold Klett: Yeah, no, I, so I’m responsible for implementation in support of TNR and a couple of other alts asset products want to be in total return and some other ones on there, but, uh, you know, TNR as a product is very, very robust capability set, right? I think the clients that are on it, you know, love it, uh, as with anything, you know, there’s always, there’s always things that can be improved and expanded upon and, uh, they continue to do that.

I think since the time that you were on it. Like we talked about when we cross paths is, you know, I, I was supporting your, your prior company and, and, uh, many things. So, uh, it is a very small world, right. But, um, really good, you know, uh, following using, using the software, um, you know, a little bit different than sort of the space we’re in today, really the, the fund accounting, you know, backend software.

Uh, in the private equity space, but it was limited sort of capabilities related to, you know, expansive CRM or managing other relationships, um, which is sort of, you know, better served alongside that as well. 

Jeff Williams: What makes private equity accounting so hard? I mean, I think, you know, like I largely view accounting providers in this market as Um, well, just up until recently, it was sort of like all these, you know, mostly incumbents that had been around for some time and, um, the underlying infrastructure and technology wasn’t necessarily super modern, which the flip side of that coin is a testament to the sort of lasting, um, nature of those solutions.

I think that, that still the market is. From my perspective, at least dominated by, by those folks, of course, you have the emergence of, you know, fund administrators that, you know, wasn’t terribly surprising, but, you know, it’s now in many cases outsourced as a service. And then now there are finally these, these sort of new, more kind of modern, um, uh, smaller company startup ish, you know, solutions um, emerging in private equity accounting. My take on it was that was always that it’s just hard, you know, and so that’s why I like the incumbents had the market and why new entrants, you know, didn’t have a lot of success and therefore people just decided, you know, we’ll go hire a fund administrator and said, what’s your take on it?

Harold Klett: Yeah, I, so I would agree actually. And that’s where you see. Um, you know, time and experience, you know, matters in some respects that it’s hard, you know, TNR, you talked about using in 2005. It had been around for, for a long time, continuing to add capabilities, um, into the platform. But as you, as you look at it, the different complexities of the relationships of the, of the investments and dealing with things like side pockets and SPVs and waterfall calculations and IRR calculations in different ways, um, that, that, you know, change in some cases, depending on how you’re, how you’re dealing with them. And some of that really is about, you know, experiential in nature.

It’s not necessarily just, you know, here’s the formula and that’s what it is. And so you do see where, uh, some of the incumbents, they just have a lot of time and some of the variants, I would say, versus core baseline tracking of an investment or management fees when you start talking about, you know, more complex waterfall calculations and, and, uh, things of that sort.

Um, you know, time kind of matters in that respect. So I agree with you is it’s, you know, and it doesn’t get necessarily get easier. I think it’s, it’s, uh, you know, it’s an experience that people have to have. 

Jeff Williams: Yeah. Well, and I think the market, um, certainly over the last three, four years has. You know, become more complex too with all of the special purpose vehicles and all sorts of creative ways to structure You know transactions and little, you know to co invest or so big, you know, so there’s all sorts of structure complexities that grow and compound as well.

It seems which I think is good. I routinely say that on sales calls that I’m on. It’s a, you know, I sort of never, uh, ceases to amaze me that sort of things that people will, will come up with to raise capital and the strategies that they’ll use to deploy them. And, um, I think that for me, one of the cool things about this market is how creative people will be.

I’m sure you saw, you know, very in depth what that looks like implementing. The accounting solutions behind them.

Harold Klett: Yeah. No, no two are exactly alike. So yeah, which is good. And there’s different, you know, asset classes and you have things like crypto coming up and the complexities around crypto, um, there’s, there’s always going to be something that’s going to make that a little bit more complex.

Jeff Williams: Yeah. 

Um, what if I gave you a crystal ball, Harold, I said, look into this and tell me. What the future looks like now, the future could, you could talk about the weather. You could talk about, you know, music, you talk about anything, but I’m wondering if you have a point of view about, you know, where this market continues to go.

And some of the trends, you know, you’ve, you’ve been around it now for some time. You’ve been deep into many. You know, uh, very interesting pockets. You, what I really like about you is, you know, your early part of your career, you started in product management. I happen to love the sort of theory and practice of product management, but I think it provides a super interesting viewpoint to then view the kind of the rest of your career, what’s in the crystal ball when I hand it to you, anything noteworthy.

Harold Klett: That’s an interesting question, Jeff. Yeah. I mean, I think there’s a lot of things in the crystal ball. Like you said, I think things continue to be challenging and complex, which for, you know, people like us that like to solve problems, that’s a good thing. You know, in the private equity space, uh, you know, more and more challenging to go out and fundraise, uh, with, with, In this environment, and then retain those investors for future fundraising, you know, and haven’t figured out how to, you know, communicate with them, you know, so there’s a, there’s a lot of things that are right down our alley in, in that respect.

Um, and I think it just becomes, you know, more and more complex and, you know, we talked about data, I think a little bit earlier. So the other kind of crystal ball is. All of this revolves around data and rich data and how we use it and what insights we get from it, uh, and how that’s used to run our business and, and actually ultimately give a return to the people that are, that are counting on getting a return from that, you know?

And so, you know, focusing on sort of how do we use and manipulate, uh, data, you know, how AI plays into that, how, you know, all of those things. So I guess, you know, coming back around, I’d say that sort of view of. You know, the sort of the collection, the managing, the associating of data, and then how to actually get intelligence out of that and drive thing is, is kind of where I see things go.

Jeff Williams: Yeah. Love that. Good answer. I agree with you. Um, all right. Last thing. Music. Uh, you’re a drummer. 

Harold Klett: Uh, yeah, I, I have been known to play drums here and there, um, more in my youth than now. 

Jeff Williams: Well, I think that’s probably the case for a lot of people. I, you know, You were lucky. I, I was the kid that, you know, dreamed of having a drum set and didn’t.

And, you know, I’ll be honest with you, Mom and Dad, I don’t, uh, blame you. You know, I, I think about my kids, my seven and five year olds, uh, if they were to have it, they’ve asked for a drum set, actually. And, um, it’s a hard no for us, unfortunately, um, for mom, I think it’d be really cool for me to have a drum set for them to have a drum set so that I could play it.

But I certainly would not want to have to deal with, um, the drum thing. Um, What, uh, we’ve, we’ve talked about this a little bit too, but, you know, I, I used to ask this of everybody and maybe not so much, um, as of late, but I was interested, but what’s a sort of memory or something that comes to mind immediately about music, whether it’s like a song or a band or a concert or a relative who was, you know, what, like when I say music, what, what comes to mind for you?

Harold Klett: Um, honestly, music, who it comes to mind for me is sort of. Memories, maybe that’s when I hear various different songs, different genres of music, I can remember where I was or what I was doing kind of when that song was popular, if you will. Right. So I go, and my kids, you know, think I’m crazy because, you know, a song will come on the radio and go, I was in sixth grade, you know, when that song was on what I was doing, right.

And this is what was important. So, so for me, you know, music kind of is a mindset and sort of like brings back good memories of things of that sort. Does that make sense? 

Jeff Williams: Yeah. No, I love it. It’s just, you know, I, I heard it before, said it’s sort of the soundtrack of life. I’ve, there’s a, an artist I’m into right now who just recently released an album, “Subtitles for Feelings”, which is a cool way to sort of think about music as being subtitles for the things you feel in life.

I’m going to dig into that. What, what is like one song, like when, when I hear you say that, what’s, what’s the song that comes to mind sixth grade or like, like, so we just lost, unfortunately, um, rest in peace, Jimmy Buffett. I think that was a moment for a lot of people. Uh, that was the first concert I ever went to.

I think it was 12, 13 years old. And, uh, yeah, what, what an experience, but I will never hear a Jimmy Buffett song. anywhere, at any point, uh, without, you know, thinking like the, there’s a whole connotation. I don’t even know that I could possibly describe it, but certainly the memory of, of where I was for that first concert as well.

Is there one that jumps out to you? Like– 

Harold Klett: You know, it’s, it’s funny that you say that, because I was going to say Jimmy Buffett.

Jeff Williams: I figured you kind of were, yeah. 

Harold Klett: I’m sort of, I’m sort of a parrot head at large, so, um, it, well, it’s interesting, so back to the, the drums piece, so, you know, me and I, I have two friends of mine I’ve been friends with since kindergarten, and, uh, we all had drum sets, so we all aspired to be drummers.

Jeff Williams: A whole menace. You were like a gang in your neighborhood.

Harold Klett: Oh, we were all going to be Neil Peart from Rush. Yeah, of course, yeah. And, uh, and, uh, actually the one that actually is, is actually playing in a band and, and, and goes and does gigs all the time is a huge parrot head. And, uh, and you know, I’ve been a big Jimmy Buffett fan and remember the concerts that we’d go to, particularly my first one, right, tailgating in the parking lot and all the good things that come with that.

And so, uh, you know, a couple of memories there. He’s a huge parrot head, you know, reminds me of my friends, but also Jimmy Buffett. That and you know, vacationing on the beach, which is never a bad thing. 

Jeff Williams: Yeah, what a guy, huh? He he I think he did that for a lot of us. Well Harold, um, we’re thrilled to have you man.

We’re lucky um thrilled to get a chance to work with you on a daily basis and uh, I know the team is Thrilled that you’re here and that you bring the experience that you do. Can’t thank you enough for joining me, man. I hope that, um, all of the listeners that it’s applicable to, whether customers or prospects that will become customers, get a chance to, to work with you, uh, and benefit from your expertise, but thanks for joining me, man.

I really appreciate it. 

Harold Klett: Thanks for having me on like, and I really appreciate you know, the time, but I, you know, my first three months, like I said, coming up to that three month anniversary and it, and, uh, it’s, it’s, it’s everything kind of expected it to be. So I’m really excited to be working with the team, love the clients, love the team, you know, the culture is great.

So looking forward to great things. 

Jeff Williams: Awesome, man. Thanks again.

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