Family Wealth Report and FundCount Release Comprehensive Benchmarking Study on Operational Challenges of Family Offices

Too many manual processes tops list of firms’ pain points

21 March 2019

FundCount, LLC, a worldwide provider of accounting and investment analysis software, today announced the release of Family Office Focus: Efficiency in Accounting and Investment Analysis. Produced by Family Wealth Report and sponsored by FundCount, this groundbreaking study provides empirical insight into the key operational and technological challenges of family offices.

Based on a survey of 44 firms worldwide and interviews with 20 senior executives representing over $72 billion in assets under management, Family Office Focus: Efficiency in Accounting and Investment Analysis includes sections that address investing trends and implications of high alternatives allocations; the difficulty of working with many legal entities; how family offices are formulating their technology; and the urgent need for reporting enhancements.

“Single and multi-family offices of all sizes face significant challenges in achieving operational efficiency in back-office accounting and reporting,” said Wendy Spires, Head of Research at Family Wealth Report. “The prevalence of manual processes, reliance on spreadsheets and inability to account for, analyze and report on all investments in one system were the system weaknesses cited most frequently by survey respondents.”

“This report not only confirmed the issues we consistently see among family offices but it reiterates the need for an integrated accounting, investment analysis and reporting solution like FundCount,” said Alex Ivanov, CEO and founder of FundCount.  “Breaking free of spreadsheets and upgrading operational systems are becoming prerequisites for successful wealth preservation.  FundCount’s automated workflow, reconciliation and reporting tools provide a single source of investment truth for enhanced efficiency and more informed decisions.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development