Many professional wealth managers continue to rely on Excel for day-to-day investment accounting tasks due to its flexibility and familiarity. However, as financial practices grow more complex, Excel’s limitations become increasingly clear, especially when managing intricate, data-intensive investment accounts. Key Takeaway: Relying on Excel for investment accounting introduces significant risks, from manual data entry errors…
Why Cryptocurrency is Here to Stay—A 2024 Update
Cryptocurrencies have continued to evolve since Bitcoin’s inception in 2009, solidifying their position in global finance. Although Bitcoin and its counterparts still face volatility, the market has matured significantly, driven by both technological advancements and institutional involvement. As we look at the current state of cryptocurrency in 2024, the landscape offers fresh insights, especially for…
How To Reduce Risk When Selecting Investment Accounting Software
Selecting the right investment accounting software is a critical decision that carries inherent risks. Understanding these risks and knowing how to manage them can significantly impact the success of your project. Investment professionals must navigate a complex landscape of options, each with its own set of challenges and potential pitfalls. To help you make a…
4-Step Guide to Choosing Family Office Accounting Software
Family offices manage some of the most sophisticated and complex portfolios in the financial world. With such complexity comes the need for precision and accuracy, especially in accounting and reporting. Relying on manual processes increases the risk of errors, which can lead to misguided decisions based on inaccurate information. As family offices continue to evolve,…
Seven Pitfalls That Can Derail Your Technology Project
Implementing new technology, especially in the sophisticated and intricate environment of family offices, requires careful planning and execution. Without a clear strategy, even the most promising projects can falter. Understanding and avoiding common pitfalls can make the difference between success and failure. Here are seven pitfalls that can derail your technology project and strategies to…
Study Results: Manual Processes Top List of Family Office Challenges
If you think your family office is spending too much time on manual tasks for accounting and reporting, you’re probably right. But you’re not alone. According to a new study by Family Wealth Report and sponsored by FundCount, family offices spend an average of 20 percent of working hours per week on manual tasks. The…
Alpha Ignored? Rethinking Family Office Operations
There are many investment opportunities to gain Alpha. But Alpha can also be achieved by keeping a close eye on expenses – as Jack Bogle, the founder of the Vanguard Group and avid proponent of low-cost funds, has proven over the years. The concept of gaining Alpha by improving efficiency was the focus of Alpha…
Six Ways Cloud-Based Investment Accounting Enhances Your Financial Operations
Cloud-based investment accounting systems have transformed the financial sector by offering significant advantages, including enhanced accessibility, scalability, security, and cost savings. The migration to cloud computing is revolutionizing organizations across the board, enabling them to accelerate operations, enhance agility, and drive innovation. This paradigm shift is fundamentally altering our work, communication, and collaboration dynamics, becoming…
FundCount’s Comprehensive Reporting Capabilities
As an asset manager or family office organization, you intimately understand how vital reporting is. It provides the necessary insights for informed decision-making, fosters transparency and accountability with clients, and ensures compliance with regulatory requirements. Effective reporting helps streamline operations by reducing manual effort and errors, allowing for better cost management and strategic planning. Clear…
