Another comprehensive solution is provided by Integrated Wealth Services' RockIT system. RockIT provides a full outsourcing solution, which includes sophisticated technology as well as back-office and mid-office processing. Its systems provide a complete family office solution, including a full range of accounting and reporting capabilities. It aggregates and reconciles data on a daily basis from both manager and custodial feeds, providing a high degree of accuracy.
A Final Note
Deciding on a coherent strategy for implementing asset aggregation depends on various factors, including:
Financial considerations: What are the business benefits of comprehensive aggregation versus using a tool such as Excel to aggregate information. Remember that without custom development and enhanced operations, it is unlikely that Excel will provide as robust and controlled a platform as the solutions we have been discussing.
The status of your current platform: Does it currently integrate data from some of your sources? Can other sources be added as required?
Your strategic plans: Are you considering a new platform at this time? Are you considering a change of your global custodian? Will there be a change in your investment portfolio that would benefit from aggregation? If so, a cohesive approach toward aggregation should be a key consideration.
Hugh Bagatelle ([email protected]) is a partner at Windward Advisory Group, a family office technology consultant in Princeton, N.J.