Family Office Integrated Accounting Systems
Published April 2024
Overview
Integrated systems offer the ability to provide multiple accounting services, be it portfolio accounting, partnership accounting, general ledger accounting. As the complexity of your accounting needs increases, the value of the integrated approach grows. However, the implementation time, cost and risks also increase. Planning, staffing, training and alike all need to adjust accordingly.
This report is based on a survey and series of discussions designed in partnership with Dr Tania Neild, CTO & owner of InfoGrate, a specialist family office consulting and services firm.
Our survey was conducted leading up to our Nov 2023 conference. We identified and approached all systems identified as belonging in this category: Eton's Atlas Five, Asset Vantage, Elysys, RockIt Solutions, FundCount, Northern Trust's Wealth Passport, Forest Systems, SEI's Archway Platform, SS&C Total Return and Allvue, and received answers from 8 firms.
This was not a sponsored project and there were no fees to participate.
Report Contents
1. Integrated Accounting Systems
What are they and which family offices should consider one?
Types of accounting
Pros and Cons
2. Considerations for Implementation
Dedicated project manager
Chart of accounts
Handling historical data
Training
Evolving reporting requirements
Limitations
3. Annual Cost and Pricing Factors
Pricing factors
Annual license fees
4. Who Are the Players?
Origins and overview
Number of clients based on client type
5. Case Studies
Sawmill Trust Company
Tandem Wealth Consultants
& Lessons Learned