No Trust for your Family Office Software Without Data Insulation

The implementation of data isolation (insulating cones or ‘Chinese walls’) within one larger firm, is a practise most of us are familiar with within the context of legal, banking and asset management firms.

By limiting the exposure of data to only the necessary parties, organisations can keep their slates clean of conflict of interest issues, insider...

Topics: Best family office software, Family Office ERP, Wealth management financial systems, portfolio accounting software

Tony Solomou
By Tony Solomou
August 2, 2016
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Do Risks Arise from Within Your Family Office Accounting Software?

The family office industry is flooded with warnings about the threat of cyber crime to their fund accounting software and data security. Digital security agency, Total Digital Security warns:

“Criminal hackers understand risk vs. reward. Family offices are considered prime targets for cyber attacks because the environment is rich with upside...

Topics: Saas family office software, family office financial system, wealth management accounting, investment accounting software, family office accounting software

Tony Solomou
By Tony Solomou
July 26, 2016
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The Best Investment and Performance Analysis Methodology for your Family Office Begins Here

The primary goal of the family office is to maintain the capital of the family and to provide revenue to beneficiaries. With prevailing global low interest rates, family offices are forced to rely heavily on investing to fulfil this mandate of generating return on family assets. 

Topics: Best Wealth accounting software, featured, Wealth Accounting Software, Wealth Management ERP, portfolio management software, Family Office ERP, Straight Through Processing, Performance Analysis, Family Office Solutions, Investment methodology, loans accounting software

Tony Solomou
By Tony Solomou
July 19, 2016
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When Regulatory Environments Get Tougher, Back Office Solutions Have to Get Smarter

The winds of compliance have become considerably tougher on financial organisations over the last couple of years. Revelations such as the Panama documents leak have been adding nails in the coffin for family offices that have been enjoying smooth sailing in foreign countries with minimal to zero auditing requirements.

Topics: Wealth Management ERP, Family Office ERP, Straight Through Processing, Family Office Solutions, Wealth management compliance, wealth management back office systems, family office software, family office compliance

Tony Solomou
By Tony Solomou
July 12, 2016
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The ERP Solution to Future-Proofing your Family Office Operations

Any IT professional who has been involved in the process of modernising a company’s ERP knows that migrating away from legacy systems can prove to be a monumental challenge.

Topics: Wealth Management ERP, Family Office ERP, Family Office Solutions, Family office financial systems

Maxime Wattel
By Maxime Wattel
July 5, 2016
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Do your Wealth Management Employees Deserve Better Digital Tools? Read on!

In their 2016 World Wealth Report, Cap Gemini asked participators about “the drivers for their interest in and adoption of digital tools in their wealth management practice”. The second highest ranked response was “the ability to work on-the-go through remote log-ins on their workstation”.

Topics: Best family office software, Best Wealth accounting software, featured, Wealth Accounting Software, Family Office Solutions, loans accounting software

Tony Solomou
By Tony Solomou
June 28, 2016
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How Cloud Computing is Solving the Great Tribulations of Family Offices

Apart from the general tribulations of the financial industry, such as economic and market volatility and increasingly stringent regulations, family offices face challenges particularly pertinent to smaller financial organisations.

Topics: Best family office software, Best Wealth accounting software, featured, Wealth Accounting Software, Family Office Solutions, loans accounting software

Tony Solomou
By Tony Solomou
June 21, 2016
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Beyond Excel: Enterprise-Level Wealth Management for Your Family Office

Has your family’s portfolio outgrown its Excel shoes? If your family’s business operations and investment portfolio is nearing the level of an official family office operation, the time has come for acquiring more sophisticated solutions.

Topics: investment performance, portfolio performance, TWR, Time Weighted Return systems

Tony Solomou
By Tony Solomou
June 14, 2016
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How Microsoft Dynamics NAV Secures Wealth Management in the Cloud

Microsoft Dynamics NAV, like most other ERP solutions, was originally developed for on-premise deployment. With these systems moving to the Cloud, key financial and business information is moving offsite, and it is only natural that organisations be concerned about the security of sensitive data.

Topics: Software as a Service, Best family office software, Best Wealth accounting software, featured, Wealth Accounting Software, loans accounting software

Maxime Wattel
By Maxime Wattel
June 2, 2016
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Migrating Your Financial Data to the Cloud: Can You Keep it All?

90% of data that existed in 2013 had been created merely within the previous two year period (ScienceDaily). While sources such as 24-hour news channels and social media contribute much to the global data pool, individual organisations too are bursting out of their data storage seams.

Topics: Wealth management financial systems, Enterprise Wealth management, End-to-end portfolio management, Cloud Financial systems, Wealth financial system migration

Maxime Wattel
By Maxime Wattel
May 26, 2016
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Cloud-Based Wealth Management Software: The Secret of Pacesetters

Although the wealth management industry is flocking to Cloud computing services, a research study by IBM Center for Applied Insights points out that differing approaches taken to planning and implementing SaaS is likely to lead to significantly impacts business outcomes.

Topics: Best family office software, Wealth Accounting Software, loans accounting software, wealth digital transformation, family offce software

Maxime Wattel
By Maxime Wattel
May 19, 2016
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From Legacy to NAV: Financial Data Migration

Are you considering upgrading your financial software from a legacy system to Microsoft Dynamics NAV, either in the Cloud or on-premise? Perhaps your consideration is motivated by the benefits of Microsoft’s financial software for your wealth management. Benefits such as:

  • Streamlining your back and front office for enhanced operational efficiency
  • ...

Topics: Software as a Service, Best family office software, Best Wealth accounting software, featured, Wealth Accounting Software, Microsoft Dynamics NAV, loans accounting software

Maxime Wattel
By Maxime Wattel
May 12, 2016
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Considerations in Selecting a Software Solution for Your Single Family Office

The CEO that goes shopping for a software solution for their Single Family Office is quickly confronted with the fact that this is no one-size-fits-all buyer’s journey.

Topics: Software as a Service, Best family office software, Best Wealth accounting software, featured, Wealth Accounting Software, Investment management solutions, SFO, Wealth Management, loans accounting software

Maxime Wattel
By Maxime Wattel
May 5, 2016
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Moving Your Family Office Software to the Cloud

Family Offices have a lot to win from moving their wealth accounting software to the Cloud; reducing the administrative load, enhancing operational efficiency by streamlining internal and client communications, and outsourcing the expense and hassle of IT services and infrastructure. Despite these and other benefits, making the move to Cloud has the...

Topics: Best family office software, Best Wealth accounting software, Wealth Accounting Software, Investment management solutions, Wealth Management

Maxime Wattel
By Maxime Wattel
April 28, 2016
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Selection of Family Office Software: The Top Challenges Today

The first Family Offices were established in the prosperous late 1900's, more than a century ago. Great American entrepreneurs such as Judge Thomas Mellon, John D. Rockefeller and Henry Phipps were some of the first individuals who recognized a need for centralized management of their business fortunes for the sake of the future generations of...

Topics: Best family office software, Best Wealth accounting software, Wealth Accounting Software, Investment management solutions, family office software

Tony Solomou
By Tony Solomou
April 21, 2016
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In the Wake of Panamagate: The Importance of Maintaining Transparency

The leaked Panama Papers is probably the biggest news in the finance world since the 2008 crash of the financial markets. Without wanting to sound cynical, for a large percentage of the readers of the financial press and most industry cognoscenti, none of the revelations came as a surprise. Nonetheless, seeing so much of the dirty underworld of tax...

Topics: Best family office software, Best Wealth accounting software, featured, loans accounting software

Tony Solomou
By Tony Solomou
April 14, 2016
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The Elysys Way: How We Implement Cloud for Wealth Management

Since 2008 Elysys has been working with CEO’s of family offices and individual investors to create flexible financial accounting and wealth management systems that deliver uncomplicated processes to:

  • record financial transactions,
  • deliver basic performance evaluation and reporting,
  • simplify financial management tasks such as bank and cash management, and

Topics: Wealth Accounting Software

Tony Solomou
By Tony Solomou
April 7, 2016
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Is the Cloud Secure Enough for Wealth Management?

Cloud-based computing is hot news in the financial sector with an increasing number of firms and major global banks streamlining their operations by moving to the Cloud. However, if you are the CEO of a Family Office or a High Net Worth Individual dealing with sensitive personal and financial data; the idea of virtual data storage and computing could be...

Topics: Wealth Management digital transformation

Tony Solomou
By Tony Solomou
March 31, 2016
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Cloud-based Computing vs. On-Premise for Wealth Management

According to Forbes magazine, independent research and advisory firm Áite Group recently did a survey of 29 senior technology executives from financial institutions. The study found that 50% of respondents rated their organisation likely or highly likely to use Cloud Computing services within the next 24 months. The other 50% did not foresee a move to...

Topics: Wealth Management digital transformation

Tony Solomou
By Tony Solomou
March 24, 2016
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Understanding Cloud Computing for Wealth Management

In scenarios such as Single-family Offices, or where High Net Worth individuals are managing a significant personal portfolio with help simply from accounting staff, there is a need for an uncomplicated and user-friendly software system to deliver:

  • the recording of financial transactions,

  • basic performance evaluation and reporting,

  • simplified...

Topics: Wealthtech digital transformation

Tony Solomou
By Tony Solomou
March 14, 2016
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2 investment compliance processes that you must have

Compliance is a very broad subject, encompassing regulatory and legal requirements, internal operational activities, industry standards, ethical practices, etc.

Tony Solomou
By Tony Solomou
May 19, 2015
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Update from the Cloud Law Conference
A couple of weeks ago, I attended a one day conference on Cloud Law and more specifically reviewing the latest developments in this field. The venue could not be more appropriate than the Law Society's premises in London. This venerable institution was formed all the way back in 1825 and it is one of the most prestigious professional associations of...

Topics: investment accounting software

Tony Solomou
By Tony Solomou
December 16, 2014
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Do you believe in Cloud security for the Wealth Management Industry?

     

INTRODUCTION

Hello again. In a previous posting I raised the flag in favour of SaaS for finance industry and more specifically Family Offices. I also expressed the sentiment that cloud security is the main concern. The fight against hackers and other malevolent parties who are out there to steal your data goes on and it has now become a fact of...

Topics: cloud wealth management system, Saas family office software, family office software, HNWI financial systems, SaaS Family office system

Tony Solomou
By Tony Solomou
November 6, 2014
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An ERP financial management SaaS for family offices?

 So let’s get straight to the point. You are looking for a family office accounting solution or an ERP Financial management software product. The major objection in considering SaaS – regulatory compliance aside - as a viable business option, is SECURITY. The big question is: Will my data be safe enough sitting on a server outside my control?

Topics: Software as a Service

Tony Solomou
By Tony Solomou
October 8, 2014
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