TOBA Advice Scales Client Reporting and Operations with Performativ

Building a Stronger Foundation for Reporting and Growth

Founded in 2016, TOBA Advice provides independent and transparent investment advice to clients with an investable wealth of at least EUR 750,000 and today advises on more than EUR 330 million in assets. With a team of more than 10 professionals and a structured approach spanning more than 20 external managers, the firm positions itself as a long-term partner focused on governance, clarity, and disciplined portfolio construction.

From the beginning, TOBA Advice has been committed to delivering high quality advice supported by clear and reliable reporting. Operating without hidden fees or conflicts of interest, the firm aligns its incentives closely with those of its clients and places strong emphasis on trust, transparency, and long-term decision making.

As the firm grew, expectations around reporting and data clarity increased. Clients wanted consolidated views of all investments, including both liquid and illiquid assets, and advisors needed the flexibility to tailor presentations and insights to individual client needs. What once worked as an in-house reporting system became increasingly strained under the weight of these requirements.

To sustain growth and deliver consistent service excellence, TOBA Advice began evaluating modern platforms that could handle data consolidation, improve reporting flexibility, and free the team from manual data work. That search ultimately led them to Performativ.

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The Challenge

Early in the firm’s history, TOBA Advice developed an internal reporting system to meet basic reporting needs. At the time, few alternatives existed, and building in house offered control. Over time, though, the limitations of this setup became clear.

Manual processes dominated daily work. Data from multiple custodians arrived in different formats with inconsistent quality. Maintaining these disparate connections and correcting errors consumed significant internal resources. The system grew more fragile just as the demand for clear, consolidated reporting increased.

Reporting was also a key element of the client relationship. TOBA Advice’s philosophy of transparent advice, including fixed advisory fees with no hidden costs, meant clients expected reporting that was equally clear and trustworthy.

As Tonny Elsberg, Partner at TOBA Advice, explains:

“We built our own reporting system knowing it would have a limited lifetime. Over time, it became outdated and constrained. We realized we needed to move outside the house. Our business is investment advisory, not building software.”

Clients increasingly wanted access to a consolidated view of held investments across multiple custodians, including illiquid positions. While TOBA Advice offered an app that provided such consolidated views, its internal reporting infrastructure was not keeping pace with the quality needed for scalable client experience.

“Reporting is almost as important as building the portfolios themselves. If you cannot show results clearly, it limits your business.”

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Evaluating the Market

With reporting as a core part of the client experience and business model, TOBA Advice approached vendor selection with diligence. The team created a detailed evaluation questionnaire with over 100 questions addressing data consolidation, reporting flexibility, scalability, security, and cost. Around 10 providers were assessed, with several advanced to in-depth discussions and technical demonstrations.

Performativ emerged as a standout. Its modern architecture, ease of integration, and focus on true data consolidation aligned with the firm’s direction. Most importantly, Performativ could provide accurate, validated price and performance data across custodians without extensive manual intervention.

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Why TOBA Advice Chose Performativ

Instead of choosing based on isolated features, TOBA Advice evaluated Performativ as a platform that could serve both advisors and clients long term.

1. A Reliable Data Foundation Across All Custodians: The transition to Performativ created a centralized and validated data foundation. Data collection, normalization, and price validation are all automated, reducing manual labor and errors. “We went from spending a huge amount of time monitoring and correcting data to trusting it. One instrument, one price. That changed everything for us.” - Anton Sørensen, Head of Investment Operations & Partner, TOBA Advice
2. Flexible Reporting for Diverse Client Needs: TOBA’s clientele ranges from sophisticated investors to individuals seeking accessible, understandable insights. Performativ’s reporting framework allows the team to generate tailored reports without repetitive manual work.
3. Advisor Tools That Support Better Conversations: Beyond static reports, Performativ offers tools that help advisors illustrate portfolio alignment, strategy adherence, and performance drivers during client meetings. “Now it is much easier for advisors to see how close a client is to their investment strategy and explain performance or rebalancing decisions with confidence.” - Anton Sørensen, Head of Investment Operations & Partner, TOBA Advice
4. A Partner with a Long-Term Perspective: Both Tonny Elsberg and Anton Sørensen stressed that they wanted a partner, not just a tool. Performativ’s responsive development approach and collaborative roadmap discussions were key differentiators.

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Implementation and Early Impact

Once Performativ was implemented, the transformation was clear across the organization.

• Reduced Time on Data Management: Data consolidation and validation are now handled externally, allowing internal teams to focus on advisory work and client interactions rather than troubleshooting data issues.
• Faster, More Consistent Reporting: Reports that once required significant manual effort can now be generated quickly, giving both advisors and clients timely insights for decision making. “Before, reporting cycles took a lot of time. Now we set the parameters and generate reports instantly. That makes a big difference.” - Tonny Elsberg, Partner, TOBA Advice
• Improved Client Confidence: With clearer and error free reporting, client trust is strengthened rather than tested by disparate data or delayed results. The firm also supports client access through a consolidated reporting app available on desktop, mobile, and tablet that presents a comprehensive overview of both liquid and illiquid assets, performance, and allocation, deepening engagement and transparency.

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Looking Ahead

TOBA Advice views Performativ as a long-term foundation for scale and client service excellence. With a modern reporting platform in place, the firm can grow its client base without sacrificing clarity or trust.

“When you change your reporting system, you are placing the core of your business in someone else’s hands. You need shared values and a long-term view. Performativ has proven to be a very strong fit for us.” - Anton Sørensen, Head of Investment Operations & Partner, TOBA Advice