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Conventional Multiple Family Offices (MFO) typically work with highly qualified and experienced investment personnel to provide the expert advice to family offices on wealth management. However, when it comes to Multi Family Office operations, they still rely on basic and predominantly manual tools such as Excel files for clients matters — portfolio management, accounting, trade support, and compliance.
However, investment portfolios of wealthy families have evolved. Today, they are wide-ranging and include both liquid and illiquid asset types such as stocks, private equity, land, and art collection. This means MFOs servicing such clients also need to step up — in terms of advisory as well as harnessing technology to provide improved, holistic services. Recent technological advances have ensured integrated family office software that automates several functions and brings disparate investment data onto a single platform is more accessible than ever. These platforms can generate hyper-customizable reports to meet individual needs as well as regulatory requirements. Armed with more time and greater insights for strategy, such technological transformation enables MFOs to up their game and provide industry-leading services to their clients.
Asset Vantage is one such cutting edge, integrated general ledger and performance reporting solution. It helps MFOs servicing clients with complex wealth streamline their operations and focus more on decision-making with features such as:
- Unified Platform for All Assets
Asset Vantage brings various investment types onto a single interface. This is then seamlessly consolidated to provide a holistic view of multiple family entities. By automatically pulling data from sources such as custodian feeds and bank statements, and providing multi-period benchmarking for tailored analysis, portfolio performance reporting becomes efficient as never before. MFOs unlock new ways to maximize their clients’ investment opportunities.
- Advanced data security and hybrid/remote working suitability
As a cloud-enabled software, Asset Vantage is well-suited even for MFOs with hybrid working processes. Data ownership remains fully with the users, and access control features further ensure family office privacy. We recognize confidentiality as a crucial need for MFO clients and deploy industry best practices to rigorously protect family office information.
- Highly-configurable solution and quick on-boarding
Asset Vantage is the only family office software with transparent pricing. Each MFO is unique, hence we have multiple and customizable tiers they can choose from based on their needs. We assist in this transition by conducting a thorough review of their existing technology, operations and processes. This review covers key activities, data flows, and touchpoints with internal and external systems. Once the best solution is agreed upon, we provide the fasted on-boarding in the industry and help users navigate the platform.
Optimized Technology Environment with Asset Vantage
An optimized MFO technology environment with Asset Vantage includes:
- Automated Processes: Streamlining key functions such as cash and liquidity management, portfolio analysis, portfolio accounting and cash accounting and to aid integrations into upstream and downstream solutions to provide portfolio rebalancing, trade compliance, trade order generation and processing.
- Integrated Data: Seamlessly integrating data across all systems including CRM, trade order management, accounting, custodian and broker systems, and market data providers.
- Complete Audit Trail: Ensuring all data changes and transactions are tracked across the operating environment.
The Asset Vantage Impact
Asset Vantage understands the workflows, data, and technology components of Multi Family Office Operations as well as the firm’s business drivers. Ours, after all, is a family office software created by a family office. With improved back-end efficiency, high data accuracy, and automated and integrated investment accounting and reporting, MFOs can better serve their clients and revolutionize their own business.
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