A Simple Family Office Software report surveyed 300 family office clients to find out what they would like their software vendors to provide. The results showed that a majority of family offices are struggling with legacy, fragmented technology. Below, we discuss the survey’s findings and suggest how modern software solutions can transform family office investment management.
Breaking down silos
The Simple survey revealed that an overwhelming majority (73%) of family offices want integrated solutions as a top priority. In other words, to enhance operational efficiency, they are looking for platforms that can provide an integrated, real-time, holistic view of their wealth, using just one password. The top prize goes to platforms that can seamlessly integrate with multiple service providers, including banks and custodians, and multiple accounting systems, especially with regard to alternative, private equity, real estate, and venture investments.
Many legacy and traditional platforms struggle to accommodate the broad range of needs that family offices have – which is why second on the list of family office demands was software that has a broader set of features. They want software that works like a Swiss army knife – one tool packed with multiple solutions.
Third on the list, as many family offices find themselves in the race to digitise, 70% of family offices demanded more ‘individually tailored solutions.’ They wanted to ensure that the software reflected their operational needs – including localization, language, and date formats, rather than dictate them. All of these findings point to an urgent need for integrated end-to-end solutions, which is where solutions like Hatcher+ FAAST Family Office Suit stand out.
Security is a priority in the digital age
With the continuing rise of cybersecurity threats in recent times, it is no wonder that family offices are under pressure to strengthen their data security and compliance mechanisms. The Simple survey also found that over half (52%) of family offices demanded security as a pronounced feature and wanted more robust solutions for protecting their sensitive information.
Speaking about sensitive information, data storage was next on the list, with 47% of family offices expressing concerns. For global family offices in particular, the ability to securely store data locally in compliance with emerging government-led data sovereignty policies is becoming a key differentiator in choosing software providers.
Integrated solutions that use a single sign-on and blockchain to protect data and prevent errors typically offer better data protection and compliance than non-integrated solutions.
Service and compliance
In the report, 41% demanded easy onboarding, with many requesting “white glove” service, especially in support of data uploading and back office tasks. They want their software providers to offer even greater assistance and more involvement in the onboarding process. In addition to wanting an easier onboarding process, the remainder of the findings were as follows:
- 29% of family offices required more hands-on support.
- 20% of family offices wanted ESG reporting integration.
- 17% required technology that adapts to their location and supports multi-language, multi-currency, and diverse regulatory formats.
- 5% wanted sustainable finance disclosure regulation integration.
Luckily, with the advancement of technology, modern investment platforms have also arisen to meet the demands of family office clients. For example, platforms like the Hatcher+ FAAST Family Office Suite are designed for global scalability, offering flexible solutions that adapt to diverse compliance and operational requirements. With seamless integration into over 120 leading developers, including multiple fund admin and accounting platforms, Hatcher+ FAAST ensures a smooth transition, enhances operational continuity, and also empowers family offices to upgrade and streamline their processes without disrupting existing workflows.
The future of family office technology
As the landscape of wealth management evolves, family offices are increasingly looking for more flexible, efficient, and secure investment platforms to stay competitive. The findings from the Simple Family Office Software report highlight that integrated solutions are no longer a luxury but a necessity for optimising investment operations.
The message is clear: family offices are no longer settling for disjointed platforms. They demand integrated, flexible, and secure solutions that enable access to leading vendors and align with their evolving needs.
By integrating AI, automation, and data-driven insights, next-generation platforms like Hatcher+ FAAST Family Office Suite are setting new standards for efficiency, security, and smarter wealth management.
About Hatcher
Hatcher+ creates innovative software and data models to transform alternative investment management. Our FAAST® (Funds-as-a-Service Technology) platform offers a fully integrated tech stack with customizable apps and services, automating fund creation, administration, and reporting. With advanced AI and blockchain-based data security, we provide real-time insights and empower GPs, VCs, and family offices to make smarter decisions, optimize operations, and build trust.
