Streamlining the software selection process with Veracy Family Wealth Partners
Veracy Partners is a family office platform based in Washington, DC, specialising in managing, safeguarding, and optimising wealth for ultra-high-net-worth entrepreneurs, innovators, and wealth creators. This case study details how the firm simplifies the software selection process for family offices by leveraging its networks, in-depth demos and vendor support.
About the Service Provider
Smart selection
Family offices face an arduous and opaque process of determining their technology requirements and then connecting with the right providers to meet their needs. Veracy Family Wealth Partners tackles the software selection process by tapping their network to consult current or previous users of a piece of software they are considering adopting. Spending time with a demo version can help identify pain points that can guide discussions with these users. One problem, however, is that it can be challenging to find users for some of the more boutique offerings.
Continuous support
Once they choose a piece of software, they turn to working with the provider to overcome any hiccups or pain points. Attention to detail is crucial to build trust in the solution’s accuracy and dependability at this stage. If they discover a discrepancy or difficulty, for example, entering data in a capital call statement or missing ITD performance reporting, they immediately reach out to the provider for support.
Veracy Family Wealth Partners has weekly calls with their major software vendors to support their needs and those of their clients to smooth onboarding processes. This underscores the importance of building lasting relationships with providers to stand by your family office to ensure high quality operations into the future.
“Software has allowed us to streamline processes, create sophisticated and helpful data output reports, and provide continuous vendor support.” – Whitney Zeta, Managing Partner & Co-Founder, Veracy Family Wealth Partners.
Client-centric
Adopting new software has allowed them to better interpret data through its capabilities, yet they retain the capacity to customise outputs through systems like Excel. They balance purpose-built products with the still powerful and highly-customisable Excel to meet the unique needs of all their clients. For example, purpose-built family office software streamlines data processing and storage, but they may download data into Excel to finish a deliverable for their clients.
Their experience with AI is informative. Two of their software providers are already offering AI integrations, but they have experienced the continued need for manual updates and the human review. They have also explored demos of products offering AI document reader functionality. This too seemed to require manual updates that raised the costs to a prohibitive level for many of their clients.
Veracy Family Wealth Partners’ approach to software and technology is client- and results-centric. Software is a tool to facilitate best-in-class service built on human knowledge and relationships.
Further Reading
Power, privacy, and the Palantir playbook: What family offices can learn from Alex Karp
InnovationIn a world where AI is weaponised, data is sovereign, and institutions are fragmenting, few private actors have amassed influence like Alex Karp. The Palantir CEO isn’t just building software; he’s helping reshape global intelligence infrastructure. For family offices seeking relevance in a volatile age, there’s value in studying his strategy.
The Altman Algorithm: Lessons from Sam Altman for the Next-Gen Family Office
InnovationSam Altman’s name is synonymous with artificial intelligence. But for family offices thinking about relevance in a world being rewritten by technology, Altman’s influence stretches far beyond AI. His approach to capital, governance, and long-term risk makes him one of the most important operators of this era, not just for Silicon Valley, but for anyone […]
Jensen Huang: Betting it all on AI, plus putting some NVIDIA chips into philanthropy
InvestmentsJensen Huang, co-founder and CEO of NVIDIA, is one of a handful of people who can realistically tell us where AI will be in the next ten years. That’s because NVIDIA, now in the trillion-dollar club, is heavily invested. Haung, the company’s CEO since its inception, is the man of the hour, making headlines as […]
What would Warren do? Succession, stewardship and the family office playbook
InvestmentsWarren Buffett, the legendary investor and longtime chairman of Berkshire Hathaway, is stepping back after decades at the helm of one of the world’s most iconic companies. Often cited as the greatest capital allocator of our time, Buffett has shaped the financial landscape through his disciplined investment philosophy, minimalist governance, and deep commitment to long-term […]
