How family offices approach consolidated reporting

In this insight we look into the growing importance of consolidated reporting for family offices and how software is changing the reporting landscape for the better.
consolidated reporting
FinTech Updated on January 16, 2024

The family office industry has grown tremendously over the last couple of decades. The immense rise in assets under the management of individual family offices has highlighted the importance of providing a continuous and thorough insight into the financial picture of their clients and their entire portfolio. This has made consolidated reporting one of the basic necessities for developing an effective wealth management plan.

Simple is determined to help your family office to find the right consolidated reporting software. Find our technology stack here.

The Importance of Financial Reporting for Family Offices

Before we get into consolidated reporting, we must first understand the modern-day necessity of family office financial reporting as a whole.

Family offices have an extremely complex operational structure that is personalised to handle the extremely sensitive needs of their ultra-high-net-worth clients and their stakeholders. These services, in a broad sense, can be divided into investment management, wealth transfer, tax services, family meetings, and administrative services.

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