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A great wealth strategy is a combination of goal setting, selecting the right wealth advisor, and managing your overall asset allocation strategy by consistently tracking deviations and rebalancing. On Asset Vantage you can track advisor performance.
Most High Net Worth families hedge their software for managing investment strategies by investing with multiple wealth advisors. While it works well from a hedging standpoint, it’s an operational nightmare for your back office. Many finance teams still use legacy systems like Excel. Hence, providing you with a consolidated view of real-time and unbiased analytics across all your assets and advisors ends up being a daunting task. You may have great wealth advisors, but without a consolidated, intuitive technology platform to monitor your family’s entire net worth, you may be exposed to unknown risks like stock/fund concentration, portfolio overlap across advisors, poor performance compared to benchmarks, etc.Track advisor performance on AV.
Importance of a Family Asset Tracking Tool
A financial tracking and monitoring software platform can help you, your finance team, and your family members to stay well informed and have actionable insights on a real-time basis across all liquid and illiquid assets managed directly or through multiple wealth advisors. To enable smarter and safer financial decisions, a consolidated view is essential.
Some advantages you gain are:
- Save time with easy data uploads of broker contract notes, CAMS statements, etc.
- Have all the information needed to stay prepared to ask your wealth advisors all the right questions
- Compare and benchmark advisor performance
- Spot any outliers in your portfolio that need immediate attention or action
- Evaluate advisor performance across sectors, stocks, accounts
- Maintain consistently updated books of accounts.
- Track all corporate actions like dividends daily
