Automating the Family Office: Solutions for Enhanced Performance Reporting
Family offices, including, single family offices, as well as multi-family offices, offer a broad range of services to high net-worth individuals and families, ranging from financial and insurance planning and advising, to handling an array of administrative duties.
This evolution in investment practice means that family offices must also increasingly deal with complex ownership structures, often involving multi-tiered entity organizations. The trend poses a unique set of challenges from both an advisory and operational standpoint: with complexity on the rise, traditional reporting methodologies can no longer be relied upon to provide accurate and detailed performance-return and accounting information.
Family offices require a far more robust set of reporting capabilities in order to ensure quality and efficacy of data. One of the most effective ways of accomplishing this goal is by tapping into the vast resources and knowledge database of a top-flight solutions provider.
Using the same basic framework designed to improve reporting functionality within the alternative investments space, technology companies like SunGard Investran can outfit family offices with a standardized offering featuring a template model and family office specific database. These sophisticated, tailored solutions are capable of giving clients the level of transparency and reporting and accounting detail needed to stay on track in today’s intricate marketplace.
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