Episode 14
September 5th 2024
Show Summary
Shaun Parkin Interviews Private Wealth Systems - Offering financial reporting and data aggregation for family offices, and Arqa AI - Providers of AI-based tools for investment management and risk assessment in family offices.
→ Read summary of key insights from the program.
About the Moderator
Shaun Parkin Founder & Director, Hall Road Investments
Shaun dedicates most of his time to working with Family Office clients and their advisers. His consultancy, Hall Road Investments, is an independent consultancy focused on providing Family Offices and endowments with an external perspective on investments, operations, technology, and implementation.
About Private Wealth Systems
Represented by Craig Pearson, CEO, Private Wealth Systems
Private Wealth Systems is a financial technology platform designed to aggregate financial data and deliver detailed financial reporting and portfolio management, specifically for family offices, private banks, and wealth managers, offering a unified view of wealth, comprehensive transaction processing, and customizable reporting capabilities.
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About Craig Pearson
Craig Pearson is the CEO of Private Wealth Systems, a global financial technology company that is revolutionizing the way private wealth is analyzed, reported, and managed. Private Wealth Systems has been named a FinTech Top 20 Company by American Banker, and Top FinTech Innovator by CIO Review. Prior to co-founding Private Wealth Systems Craig was president of WealthTouch, the largest and fastest growing provider of consolidated investment reporting to over 275 family offices and 5 of the top global private banks across 5 continents. At WealthTouch Craig was responsible for building, managing, and selling the company to generate a 4.5x return on capital for investors. Craig has over 20 years of experience in financial technology, with a focus on institutional and self-directed portfolio management, trade order management, pre-trade and post trade compliance, and investment reporting. Craig is a Chartered Financial Analyst (CFA), and holds a masters degree in finance
About Arqa AI
Represented by Haik Sahakyan, Co-Founder & CEO Arqa AI
ARQA empowers high-net-worth individuals, family offices, advisors, and institutions by delivering rapid, insightful portfolio access, optimizing daily operations for greater efficiency and impact.
At the forefront of financial AI, ARQA offers AI-driven tools that enable informed decision-making. Through advanced solutions, ARQA ensures its clients thrive in an ever-evolving financial landscape.
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About Haik Sahakyan
Haik Sahakyan is the Founder and CEO of ARQA, an AI-driven wealth management firm where he leads strategy and innovation for high-net-worth clients and institutions.
He is also a Principal at Blackmar, focusing on analytics and performance reporting platforms. Previously, Haik co-founded Blackmar Technologies (Kosmos), which developed financial tools for high-net-worth clients and was later acquired. Earlier in his career, he led client implementations at Addepar.
00:00 – Introductions
04:16 – Sean’s opening remarks
05:55 – Haik & Arqa AI: focus on automating data entry and aggregation (capital calls, k1s, custodial statements, etc)
07:26 – Charlie & PWS: data consolidation, reconciliation and analytics
08:22 – Data challenges, complexities of onboarding tech, automating data handling, master investment book of record
12:06 – Data accuracy and efficiency, errors in custodial feeds
16:38 – Resource limitations in family offices, power users and outsourced back office
24:00 – Client feedback on ai tools: not just for data extraction but also portfolio rebalancing; document management
30:04 – Arqa and PWS in the ecosystem
Arqa: focus on investment and operational workflows
PWS: data management platform integrating with other systems
39:11 – Global client demand
47:58 – Pricing models and ranges
52:59 – Data security and privacy
58:19 – Closing remarks