The post-2008 regulatory wave has led to significant ongoing reforms that continue to reshape asset management in 2024. Complex requirements around transparency, ESG reporting, and investor protection are now the norm, with more stringent oversight increasing operational costs and compliance burdens. Asset managers and investment firms face tighter rules on liquidity management, AML, and beneficial…
Objectively Evaluating Leading Family Office Accounting Solution Providers
Family offices seeking reliable back-office systems often face a challenging decision between two distinct categories of software solutions. While each category offers its own set of advantages, the nuances of functionality, adaptability, and efficiency can significantly impact day-to-day operations. This article provides a practical, data-driven comparison of several platforms, highlighting where they excel and where…
Investment Accounting in 2024: Why Excel is No Longer Enough
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…
