News and Events

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

Press Release · Posted on 21 March 2019

Too many manual processes top list of firms’ pain points

BOSTON, MA, March 21, 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.

About FundCount

Founded in 1999, FundCount provides integrated accounting and investment analysis software that improves operational efficiency and delivers immediate, actionable intelligence to clients around the globe. Today, over 125 single and multi-family offices, fund administrators, hedge funds and private equity firms worldwide with assets totaling more than U.S. $150 billion rely on FundCount for accurate, timely information and flexible reporting. FundCount supports its growing client base from the company’s U.S. headquarters and four additional international locations. For more information, visit www.fundcount.com.

About Family Wealth Report

Family Wealth Report is the North American brand of ClearView Financial Media, an independent, London-based publishing and events house. FWR focuses uniquely on the family office and UHNW wealth management community in US and Canada, for which it provides daily market intelligence, regular educational and networking events as well as cutting-edge research. In addition, FWR recognizes excellence in this community via its highly regarded annual awards program.