According to Arthur A. Bavelas, (Founder at Family Office Insights) “Working with family office investors is rapidly becoming a relevant strategy for accessing investment capital from the ultra-wealthy and their investment offices.”
Managing a family’s investments requires an understanding of who they are and how they operate, requiring patience and a great deal of time to earn their trust. Their portfolios can include personal assets to which there may be sentimental attachment; often, money decisions are made emotionally. There is a mix of investment requirements due to the demographic make-up of the investor group. Some look for investments that provide more steady returns, while others feel they can bear the risk of market downturns with more volatile investments, in hopes of higher returns. There will also be varying levels of comfort with technology, one member may prefer to review their portfolio details online versus another preferring to meet with an advisor in person to review hard copy reports. All these dynamics make it a challenge to maintain an aggregated view of investments and share that detail with each family member the way they want/need to see it.
Historically, family offices have managed their portfolio’s transactional data using insufficient software tools like spreadsheets, which are not designed to hold streams of data, for calculating performance or for reconciling complicated data scenarios like corporate actions, and/or inventory valuation. All these make choosing the right software to manage a family office portfolio extremely important.
GreenHill Investment Reporting has software solutions that meet these important needs and much more!
GreenHill's Investment Reporting for Family Offices delivers the essential ingredients needed to streamline reporting workflows and keep family members informed the right way:
Online web portal that streamlines how data is accessed
For the varied portfolio, GreenHill’s offerings ensure that members can enjoy a safe and accurate aggregation of their data, leading to sound performance results. Utilizing GreenHill’s online portal, ReportQuest, eliminates complicated, error-prone, and time-consuming manual spreadsheet management and reporting. It streamlines how the data is accessed, via multiple data interfaces, and how the data is processed, performing data checks throughout the data aggregation/reconciliation process with industry supported return calculation methods. These methods are fine-tuned as industry standards change, making sure the software allows the user to remain industry compliant.
Customizable Reporting Options
Having reporting options, from customizable reporting templates to optional reporting distributions, are also imperative to successfully meeting the family office’s software needs. GreenHill’s reporting and output functions offer a range of options that will suit the needs of any member, regardless of skill level.
24/7 Availability and Analytics to support drill down exploration
Access to reporting is available on www.ReportQuest.com 24 hours a day, 7 days a week, from any computer or smart device. Tools are built into its online portal, allowing not just access to data results, but also to supporting analytics, including Alpha and Standard Deviation statistics data that complement data return results. These measures provide high level analysis and detailed drill-down exploration that assist the family office advisor in managing an investor’s portfolio by reviewing additional data analytics.
Role Based access to ensure Privacy and Compliance
An advisor also has access to the data points that were included in each period return calculation, but he or she can be confident that role-based access can be set up to control what information is available to each person and maintain compliance standards.
Report Customization and Benchmarks to ensure that all Family Office members are satisfied
Report customization is also an important feature. There are over 300 report-style options available on ReportQuest with many customizable output fields and graphs. These reports show slice views by unique preferences like time periods, sectors, or specific benchmarks. Along with data return output, a range of index benchmark options are also included with reporting, covering all major industries as well as alternative and socially responsible companies.
Transmission of data to other Custodial Systems
Once those reports are formatted to the users’ specifications, the results can be transmitted from ReportQuest and integrated into other external portals like Wealth Access and other leading custodial systems.
“Our goal for family offices is to bring an intuitive, professional reporting and presentation layer to their day-to-day operations to allow them to consolidate views of the family’s portfolio and provide role-based views on positions and performance to keep family members informed and confident in ongoing performance.” Bill McFadden, President, GreenHill Investment Reporting