There are many investment opportunities to gain Alpha. But Alpha can also be achieved by keeping a close eye on expenses – as Jack Bogle, the iconic founder of the Vanguard Group and avid proponent of low-cost funds, has proven over the years.Read More
“Someone is sitting in the shade today because someone planted a tree a long time ago.”
Acquiring wealth is one thing. But once acquired, how do you ensure it will “provide shade” that lasts for generations to come? Conventional advice recommends developing a shared vision based on family values and goals, conducting regular assessments to ensure the family is operating within mandate, establishing a succession plan and assigning accountability. While these strategies form the basis of sound governance and can certainly help to preserve wealth, technology further strengthens the ability to reach that goal.Read More
Interview with Howard Geller, Principal, Hudson Peak Group
As principal and founder of Hudson Peak Group, Howard Geller works with individuals and family office clients to advise on financial and strategy issues, including analyzing various financial products.
Due to his in-the-trenches expertise and objective insight, Geller was recently quoted by Family Wealth Report (FWR) in Family Office Focus: Efficiency in Accounting and Investment Analysis. This research study, prepared in partnership with FundCount, offers an in-depth look at the technological and operational challenges of family offices.
FundCount caught up with Geller for a brief interview to get his perspective on some of the findings in the research study and to discuss other issues impacting the family office sector.Read More
If you think your family office is spending too much time on manual tasks for accounting and reporting, you’re probably right. But you’re not alone. According to a new study by Family Wealth Report and sponsored by FundCount, family offices spend an average of 20 percent of working hours per week on manual tasks. The number of hours can be even greater for larger offices – up to 40 percent – due to more complex investments, allocations and entities.Read More
A general ledger is the heart of any accounting system. It receives and pumps out information that feeds all financial accounting, investment and reporting activities. With accurate, real-time financial data readily available, analysis and investment decisions can be made based on current, not past information.Read More
Technology in our everyday lives provides instant access to nearly everything. It has raised the bar on expectations. We’ve become spoiled with voice-activated personal assistants like Siri and Alexa that can answer questions and do simple tasks without us having to move a finger, with applications that offer remote, on-demand access to various home systems such as heating and lights, and with other similar technologies.Read More
Balance sheets have expanded and increased in complexity to the point that the traditional patchwork of retail solutions is not up to the task. Many family offices and advisories are evaluating whether adopting a more institutional-grade accounting system to handle their portfolio cash management back and middle office operations makes sense.Read More
It’s hard to get excited about cash management and the mundane task of bill paying. But, for any family office manager or controller that has issued a check from a wrong account, missed a critical payment, caused an overdraft, or erroneously paid a vendor twice, you know firsthand how time consuming it can be to right a situation that has gone awry.Read More
One unspoken question firms often have when buying new software is, “How much should we pay?” Invariably, the only reference points are the quoted costs from various software vendors for new software, which may not be an accurate gauge for assessing value.Read More
Client service is so integral to the DNA of some companies that they are renowned and revered for their service excellence. Online retailer Zappos, Nordstrom department store and sports outfitter REI come to mind, as does Rackspace, which has gone so far as to brand its “results-obsessed customer service” as Fanatical Support®Read More