Multi-Client Family Office Portfolio Accounting Software

"[Navigator] transaction reports and budgeting ability particularly help us show our clients how to keep track of their finances and keep to their budgets."

Deedra Wolas
PricewaterhouseCoopers

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• Accounts for individuals, trusts, estates, partnerships, LLCs, and more.
• Connects to financial institutions to automate previously manual tasks like updating bank and brokerage information.
• Produces over 100 sophisticated reports including income statements, balance sheets, cash-flow analysis, budgets, asset allocations, and tax schedules.
• Consolidates and aggregates multiple entities and years into a single report.
• Compares investment performance across managers and market indexes.
• Prints checks from multiple bank accounts on blank checkstock.
• Ensures integrity with true double entry accounting.
• Manages user profiles to limit access to sensitive information and program functions.
• Allows remote access capabilities for out-of-office users.
• Scales easily allowing for asset growth and increasing complexity.
• Provides access to multiple users though LAN and WAN connections.

Multi-client Family Offices face distinctly different challenges than traditional family offices. They are expected to provide clients in-depth financial services in all of the following areas:

• Tracking various legal entities.
• Performing the accounting for partnerships, trusts, foundations and real estate.
• Making frequent cash distributions.
• Aggregating data for multiple managers.
• Tracking investment performance by investor and by manager.
• Calculating net worth across multiple entities.
• Producing personal financial statements.
• Providing information to other family advisors.

Multi-client Family Offices must deal with a bewildering range of legal entities. Navigator accounts for all types of legal entities that you face when working for a family office. Some of these numerous entities include partnerships, Subchapter S corporations, LLCs, estates, trusts and foundations, and individuals. No matter how numerous, Navigator's flexible chart of accounts structure will properly set up asset, income, expense, liability and equity accounts for any entity.

Multi-client Family Offices often provide partnership accounting, trust management, foundation management, and personal property management. With Navigator you can easily account for these complex entities and manage the activities associated with them. Whether it's tracking the tax basis, capital gains, investment income, or cash distributions, you can confidently rely on Navigator's capabilities as a single portfolio accounting software.

Data aggregation is a key task for any investment manager of a multi-client family office. It's an arduous task to manage and consolidate investment transaction data from many custodians, such as brokerage firms, trusts, and banking institutions. There may be several multi-generational families compounding the difficulty. Top it all off with updating their portfolios with fair market values for thousands of stock and bond positions, and your task just became overwhelming unless you have an accounting software system up to the challenge. With Navigator Enterprise you have a system to handle that challenge with its Navigator BrokerLink, BankLink, Navigator Access, and StockWeb modules. You can download investment transaction data and update all of your client's portfolios — including hard-to-price securities like options, warrants, and bonds — and produce consolidated personal financial statements in a matter of minutes.

Tracking investment performance is a serious duty for the multi-client family office professional. So is calculating the returns the clients' investments are providing. As investors strive to be smarter, they want their financial professionals to answer key questions such as:

• How are my investments doing?
• What types of risk am I exposed to?
• How are my managers performing?
• Are we comparing them against established benchmarks and using the same consistent formulas?

With Navigator and ROI, the answers to these and many similar questions are easily and swiftly obtainable. The answers give you and your clients new insights, not only into their business holdings but also into their personal stakes in marketable securities, private equity, and other assets.

Family members rely on their office managers to make frequent distributions including bill payments. CheckForm makes complex check-runs simple. CheckForm prints entire check-runs from multiple bank accounts on blank checkstock — fully customized, professionally formatted and MICR-encoded — avoiding the need for multiple pre-printed check forms.

Multi-client family offices must be able to assess net worth across multiple entities quickly and routinely. They must be able to do this not only for business entities but for individuals as well. A typical family office can be a set of parents and their children, or a multi-generational family with interests across multiple investment vehicles. One of the challenges you face is aggregating and consolidating reports from these investments into financial statements that accurately reflect your client's net worth and all of the holdings of the family as well. Navigator and its add-on modules do all of the number crunching for you, giving you an answer in seconds.

Financial reporting is an important function multi-client family offices perform for family members. Navigator produces over 100 professional reports, including financial statements, tax schedules and portfolio snapshots. You can produce consolidated reports such as balance sheets, income statements and investment reports that span multiple years, entities or generations with Advanced Reports.

A growing trend among multi-client family offices is providing visibility across entities to family advisors, such as CPAs, attorneys, investment managers, and at times other family members. With Navigator you can allow certain users "permission" to access data, even enter, change and revise transaction entries from their computer. Use Navigator Online, and you, your client, or even an advisor can be at a remote location to view, download, or print reports in a matter of minutes.