How My Family Office Benefited From Investment Management Software

An influential family hired me for their family office, where I was tasked with helping them with handling their finances. The main goal they hired me to take care of was to grow their finances enough so they could pass a good amount of wealth to their children, who would then give it to their future children one day. Supposedly, the goal is to have this cycle last for as long as the family line is alive. While it was initially intimidating, I’ve since found private wealth management software that would make my job much more manageable.

As it turns out, the family office investment management software would positively transform the family’s business and investment tactics. Because of its high artificial intelligence, it can provide valuable insight, predictions, and advice for those handling family offices. Here are a few ways this software made my job easier and made the family trust me more.

1. Keep all Data in One Place

Any data related to capital management or investing is in the family office investment management software. This data may include transaction records, investment amounts, and information from banks, custodians, and fund managers. Keeping all this data in one place helps me analyse everything without missing any puzzle pieces. It helps that the software automatically organises and keeps all of it harmonised and centralised, making it easier to understand and interpret.

2. Flexible Reports

Any good wealth management reporting software should have multiple options for report formats and which aspects it should focus on the most in the report. After all, each family member may have different priorities and want to look at various aspects of their wealth. Luckily, the software I found is flexible on both parts. It can deliver reports in chart format, sheet format, and more so that each family member can analyse it the way they prefer. It can also provide information on different aspects of their wealth, such as real estate, stocks, investments, and many more. I can address every need of each family member because of this high-quality wealth management software.

3. Make Wise Investment Decisions

Investing is a huge part of keeping and growing substantial wealth, so it’s essential to do it right. The family puts information on their investments in this app, and it’s my job to make the right call on what to do with them. Luckily, one feature of the investment management software that has helped me is its ability to compare all investments according to asset classes, sectors, and countries. It can check realised gains, unrealised gains, fund flows, and more. Because of this software, I can quickly identify which investments result in a loss and reallocate the funds elsewhere.

Wealth management reporting software isn’t limited to serving family offices. Canopy, a high-quality wealth management software, is available for family offices, wealth managers, private banks, trustees, and self-directed traders. Read everything about how Canopy works and how it can benefit you, or check out how they keep your data safe and secure by visiting their website.