Posted: 7/23/2015

Private wealth management firms are quickly reaching a technological crossroads as a result of increasing internal and external pressures for better, faster, more consistent, and more accurate financial data and reporting. As aging, proprietary systems become increasingly outdated and disparate, cobbled together solutions prove deeply inadequate, firms are finally driving towards a more streamlined, enterprise-wide approach to technology. While it is indisputable that the technology landscape is changing within and across private wealth management, it is valuable to understand the systemic factors that have contributed both to the notable lack of technological innovation within the industry to date and, in turn, the renewed interest in modernization and integration we are seeing today.

Posted: 4/10/2015

Providing clients with the right financial information to drive insights and facilitate decision-making is a core responsibility of any private wealth management firm and essential to the effective management and preservation of wealth.  

Posted: 3/06/2015

For many wealthy clients evaluating portfolio reporting and accounting solutions, Excel has been their primary “software” for tracking data and creating financial reporting.  This highly-manual reporting is often produced by a team of family office staff or cobbled together by an advisor or banking team on a monthly or quarterly basis, generally considerably in arrears. At some juncture, the client recognizes the significant limitations to using such in inefficient and ineffective process – whether due to the lack of flexibility, the challenges in evolving the reporting as wealth grows and diversifies, or the more fundamental issues with accuracy, timeliness and completeness.

Posted: 12/05/2014

Currently, large-scale wire houses and independent advisors are competing for the same contingency of clientele while fighting the fallout of the recent recession. To gain an edge, independent firms could produce personalized reports to improve client service and attract new investors, as suggested in our previous post, Empower Your Advisors with Custom Reporting. But in order to offer this level of customization, firms must make a choice: invest in advanced technology or spend numerous hours manually entering and refining data for each client. 

Posted: 8/18/2014

Since 2011, total registered investment advisor (RIA) assets have increased $7.1T leading to more management opportunities for firms. And as assets grow, more independent advisors emerge and competition for clients intensifies. Firms are being forced to ask: How do we attract and retain investors?