Outsourced accounting, alternative data aggregation and reporting for private wealth
Wealth Compass helps manage the complexity that comes with wealth
Ultra high net worth individuals, single and multi-family offices, registered investment advisors (RIAs) and pooled partnerships can benefit from outsourced accounting, bookkeeping and net worth reporting with Wealth Compass. Selecting the right tech stack is not a decision to be taken lightly, and there are many things to consider when deciding if outsourced family office services are suitable for your needs.
What are the core capabilities of Wealth Compass?
Wealth Compass consists of two integrated modules: Portfolio insights and Bookkeeping. These modules offer a completely flexible solution with end-to-end support to help meet your needs. Outputs can be pulled together to produce custom tax insights and performance analysis for CFOs, CIOs, wealth owners and tax teams.
Portfolio insights
- Cash flow analysis and projections
- Current holdings
- Document management
- Income allocations across ownership structures
- Investment reporting including performance and risk analysis
- Liquidity and debt management reports
- Pooled funds
- Robotic processing automation (RPA) to systematize the custom reporting process
- Security and investment transactions
Bookkeeping
- Budget and forecasting
- Dual entry accounting transactions
- Expense management and bill pay
- Financial statements
- Operating activity
- Reconciliations
- Tax reports
- Spending analysis
- Summary-level investments
- Workflow and document management
How can outsourced family office accounting and reporting improve your operations?
Accounting and finance
- Outsource time-intensive tasks like bookkeeping and reconciliation
- Scale your capabilities with the support of a team of specialists
- Access custom reports and dashboards anytime, from your phone, tablet or desktop
- Share higher quality data with stakeholders and advisors
- Leverage industry leading practices and technology
Investment management
- Rely on clean, timely data you can trust
- Access net worth reporting at any time, without periodic, stale statements
- Understand risk and return with advanced reporting
- See performance reports across multiple time periods, asset classes, managers and more
High net worth reporting
- View your entire portfolio for net worth reporting, including liquid and private investments (private equity, alternative, real estate, business investments, collectables, etc.)
- Share wealth data securely with family members, officers, advisors, lenders and more
When to outsource:
- Desire to free up staff to focus on strategic insights rather than transaction processing and platform maintenance
- Unable to scale without increasing the number of in-house resources
- Underutilizing systems due to lack of time or limited knowledge of the platform’s capabilities
- Trouble syncing disparate technology systems within the office
- Difficulty retaining staff due to operational inefficiencies
- Feeling the pain of manual processes and lack of capacity to focus on strategic solutions
When to insource:
- The office has the appropriate staffing model to support maintenance of the platform(s) and a deep understanding of systems that are currently meeting the needs of the organization
- There is a long-term strategic plan in place for improving technology platforms
- There is sufficient budget to support the cost of a complete technology solution as well as the people and processes to support it
- There is sufficient in-house resources available to maintain consistent level of service for internal stakeholders
Who do we work with?
Ultra high net worth individuals and virtual family offices
We work directly with outside tax, legal, and wealth advisors to provide wealth owners with total net worth reporting, bookkeeping and bill pay.
Why use PwC as your family office service provider?
Quality and independence
We bring quality and an independent point of view to help manage the complexity that comes with wealth. PwC’s award-winning outsourced family office services are backed by our dedicated team and are customizable and scalable to address the holistic needs of your family office operations.
Versatility
Our versatile family office solution can be integrated with several technology platforms, including general ledger and expense management tools, and we’re continuously innovating and expanding the wealth tech stack.
Efficiency
We provide visibility into your family’s wealth faster with automation tools, data and reporting experts and an agile approach for rapid onboarding. Access a global network of specialists that can help address your most complex needs, including tax and estate planning, governance, and continuity planning.
