Reports Are Only Useful To Family Offices
Reports are only useful to family offices when they provide information that goes above and beyond aggregates and summaries of data. Andrew Carnegie Capital’s proprietary report-generating system begins with all assets in a client’s portfolio and continues through comparisons and analysis of all of those assets, both internally and as compared to industry benchmarks. This deep-well analysis is then formatted in ways that give family offices unique performance insights and recommendations for improvements. A few of our more innovative reporting options are:
Ownership and governance of family office corporate entities, including annual report filings and board compositions
Interactions among different assets and their ownership;
Order reconciliation and cost tracking;
Assignment of objective scores to different family office efforts for ease of tracking and evaluation of strategies.
Andrew Carnegie Capital’s Technology Solutions
Andrew Carnegie Capital’s technology solutions enable our family office advisors to develop custom administration and reporting services for each individual family office client. Those services accumulate information from multiple accounts or from a single investment account that holds multiple asset classes, and formats that information in a unified, easy-to-understand family office statement. These services also enable family offices to place controls and limits over various types of financial outlays, with alerts to key family members when those controls and limits are tested. Included with these services are:
Full preparation of reports and forms for tax filings.
Management of special fund distributions, and coordination of those distributions with tax reporting.
Coordination of efforts with all third-party institutions and service providers.
Historical tracking and record keeping of key decisions, and the rationale for those decisions.