Scalability and efficiency for philanthropic and family office solutions


Friday, June 25, 2021 | By Darren Berkowicz, Managing Director

Scalability and efficiency for philanthropic and family office solutions

We recently spoke on the American Bankers Association podcast, and discussed philanthropic and family office solutions, and what features and tools fund managers need to be effective and efficient. Family offices need fully integrated account solutions that allow them to move away from disparate systems.

Banks are looking for the ability to join and integrate their processes using tools that allow them to eliminate duplicate processes while enhancing efficiency on the back end. Operationally, fund managers need straight-through processing and simple reporting for complex build-outs. That efficiency element of straight-through processing builds a better user experience. Fund managers are looking for better reporting with more transparency into how the reports were created.

In the philanthropic space, many family offices include private foundations. In endowment accounting, there’s principal and income of a gift. A trust accounting portfolio can keep those two separate, and make sure the principal isn’t distributed when it should be retained. Trust departments must keep up with new tools while maintaining proper reporting to the IRS, donors, etc.

It’s important for family offices to choose a partner with a solution that can layer in managed services, allowing the internal team at the family office to focus on core activities instead of the rudimentary processes of data retrieval, insertion and reconciliation.

Listen to the full podcast or explore our Private Capital Group product page to learn more about how we can help philanthropic and family offices integrate their departments and processes more efficiently, and provide more timely and scalable reporting to enable better business decisions.



Alternative Investments, Fund Administration


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