In today’s fast-moving financial world, markets often react much more rapidly than in prior decades. That’s why backward-looking accounting systems are so limiting. While these traditional platforms still abound, today, there’s another option: a real-time general ledger. If you’re not using a real-time general ledger for your family office, you may unfortunately be putting…
A Guide to Data Governance for Small Businesses
Practical Information for Small Businesses to Govern Data Effectively Picture this: You’re a small business owner who has just lost a lucrative contract. The reason? Your competitor, who prioritizes data governance, was able to provide more precise forecasts and demonstrate a superior understanding of market trends. This isn’t a hypothetical situation. In reality, a study…
Gen Z Pushes Focus Toward Alternative Asset Classes in 2023
Diversification, Technology, and Youth Drive the Trend into 2024 In 2023, while economic uncertainty continued to weigh on traditional asset classes, alternative asset classes continued to explode globally in popularity. The most notable increase in allocation came from Gen Z investors, who joined family offices and institutional investors in the pursuit of reducing volatility, increasing…
Navigating the Complexities of Family Office Management
An Eye on Growth and Wealth Preservation Navigating the complexities of family office management can be a daunting task for high-net-worth families, leaving them feeling overwhelmed and uncertain about the future of their hard-earned assets. The intricate web of investment strategies, tax regulations, and estate planning decisions can be overwhelming, often leaving families feeling lost…
Harnessing Family Office Resources
A Deep Dive into Essential Features Family offices strive tirelessly to safeguard and nurture fortunes built across decades and legacies. As inescapable change and progress courses through the financial landscape, these guardians of affluence face a crucial question: how can they best leverage the family office resources at their disposal to navigate the complexities of…
The Data-Driven Decision Making Landscape
How Financial Firms Embrace Data-Driven Decision Making (DDDM) Picture this: you’re a seasoned money manager, a veteran of the financial world, armed with years of experience and a razor-sharp intuition. You’ve made your mark in the industry, consistently steering your client portfolios towards success. However, as you scan the industry horizon and look at current…
Garbage In, Garbage Out: Bad Financial Data Ruins Presentation
The Importance of a Single Silo for Financial Data Analysis and Reporting Data is a piece of information which captures the state that a business, a process, or a person finds themselves in at a given point in time. Although data by its nature is backward-looking, it has consequences that shape the future. Even the…
Data Silos: What They Are and How to Avoid Them
How Data Silos Hinder Analysis and Reporting in the Back-Office and Client Reporting Data silos are collections of data that are isolated from other data within an organization. They can occur when different departments or teams use different data systems, or when data is stored in different formats. Data silos can make it difficult to…
Accounting Solutions
A Comprehensive Guide to Streamlining Your Business Finances As a family office manager or fund administrator, you know the importance of having a reliable and efficient portfolio accounting system. But if you’re still using a legacy system, you’re probably facing some challenges that have you thinking about new accounting solutions for your organization. Legacy systems…
