Serving the High-Net-Worth Individual

The accounting firm of McCabe and Totah caters to an exclusive group of individuals: Silicon Valley’s venture capitalists, CEOs, entrepreneurs and angel investors. Its typical client has substantial net worth and requires financial and accounting management of multiple entities with extensive securities portfolios, real estate, and venture partnerships.

McCabe and Totah Case Study

Name: McCabe & Totah

Location: San Jose, CA

Type of Investor: CPA Firm

# of Entities: 35

Products Used:
Navigator
Advanced Reports
BankLink
BrokerLink

Navigator Delivers Results

Early in their practice Mike and Kim faced a crossroads. "How can we best manage the information for these complex financial situations?" With the workload growing, they decided that the traditional Excel spreadsheet approach was not effective in managing their clients’ data. They needed a clear picture of their clients’ complex financial situations. As it turned out, Navigator was just the answer they were looking for.

By implementing FN into their practice, Mike and Kim found their solution: an integrated accounting and portfolio tracking system. According to Mike, "After using FN, we have become the focal point for monitoring and maintaining our clients’ financial information. With the data we maintain and reports we produce, we are now able to work more closely and effectively with the client’s financial, legal and insurance advisors. We are better prepared to plan for their retirement, insurance needs, and business ventures. With FN and its numerous reporting capabilities we have an understanding of a client’s financial position at any given point in time."

Benefits for the Staff

Hiltrud Cathcart, a staff member of McCabe & Totah, needed a way to retrieve information quickly from multiple brokerage firms such as: Bear Stearns, UBS, Solomon Smith Barney and Morgan Stanley. BrokerLink, an add-on module, was the answer because it downloads transaction data from all of the major brokerage firms. According to Hiltrud, "I used to spend hours entering investment transactions. With BrokerLink, the time I spend is reduced substantially. BrokerLink is a great tool!" She believes it has reduced her data entry time by over 70%. All of the staff at McCabe & Totah take advantage of FNI’s user support program. Their inquiries range from basic software functions and applications, to system implementation for the purpose of tracking complex investment strategies from partnerships to hedge funds and similar financial investments. To supplement their knowledge, the staff participates in training classes and utilizes consulting services provided by FNI.

McCabe and Totah Today

When reflecting on what her firm has achieved, Kim Totah says, "The Navigator software enables us to have the kind of relationship with our clients that they want to have. We are able to stay on top of their situation without taking a lot of their time. We have achieved our goal of efficiently providing information and making us a more integral and important part of our client’s financial team of advisors."