Still using Excel as your go-to wealth management platform?
As a weathered investor, you have to simultaneously deal with data that is in constant flux while navigating through the macrocosm of market information and the intricacies of your portfolio. Consolidation of data on all your investments, income, and expenses is imperative, especially when it comes to optimizing returns and tracking data points to derive meaningful insights.
Excel is an easily available and widely used tool. We all love our spreadsheets and can’t imagine managing our financial lives without them. We use Excel to stay on top of things and monitor the movement of our portfolios. Power users of Excel can even track their asset allocation, absolute returns, and asset class performance benchmarked against targets. However, unearthing insights that enable making critical decisions requires you or your finance team to spend hours manually punching in numbers. Further, with heaps of generated data, both complexity and room for human error due to manual data entry grow multifold. Getting to the bottom line ends up being a long-drawn process and that is why a family office software is a great solution.
If Excel is your go-to tool, then you’re going to love Asset Vantage.
Designed as a powerful wealth management platform, Asset Vantage was built to automate portfolio management and accounting to provide actionable insights and a single view of a family’s entire net worth. With analytics available across multiple data cuts and performance metrics at your fingertips, you can stay prepared to make well-informed decisions. It’s simple! Just as we deploy software for increasing business productivity, you need a comprehensive and secure software platform to simplify wealth management while also maintaining the privacy of your data. This saves thousands of man-hours a year, leading to an increased focus on decision-making rather than consolidation or reconciliation.
For example, when you receive a contract note from your broker, typically you would manually record this information in an Excel file and then re-enter that data in an accounting software like Tally. With Asset Vantage, simply upload the contract note in our family office software, and the system will auto-update your portfolio along with the relevant ledgers of payables and expenses. Now that your transactions are recorded, you have access to insightful analytics like asset allocation, annualized returns for any period, sector allocation, group reports, gains or losses, and other important metrics.
Moreover, all values of market traded assets along with co-relating corporate actions are automatically updated in real-time on the system, thus helping you stay ahead of the curve. You can go from arduous report creation to simple report generation at the click of a button.
Experience a seamlessly integrated financial life with Asset Vantage.
Our fully configurable family office software provides comprehensive portfolio reporting; an integrated general ledger for accounting, reconciliation, and data aggregation; and an analytics platform that encompasses all asset classes, currencies, advisors, and geographies.
More than 350 of the world’s wealthiest families, representing combined assets of over $125 Billion in value, use our platform. We serve them through single-family offices, multi-family offices, CPA firms, and directly. AV has the distinction of being the only platform that’s truly global, serving users across the Americas, UK, Middle East, and Asia.
Read more on Family Office 4.0