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BLOG. 1 min read

Selecting a Comprehensive Family Office Services Provider

The top five operational challenges facing family offices today are accounting and reporting complexity, data security, generational changes, keeping pace with technology, and scaling staff resources. Family offices need a solution that modernizes their operations while also achieving greater efficiency and controlling costs. Many family offices choose to outsource their operational activity, which allows them to accomplish more in less time without the need for additional back-office staff or specialized expertise in operational functions.

Forbes has released their 2022 list of top vendors of family office technology and identified three major categories for family office solutions: data aggregation & consolidation; management, collaboration & operational; and reporting & insights. The list represents the providers that stood out within the core functions of family office software products. Forbes chose SS&C’s Family Office Services division as part of the North America list, citing our fully integrated, multi-currency portfolio management, financial and partnership accounting as well as our secure environment. View Forbes' full list to learn more.

Because technology has advanced so quickly, many family offices are in new territory as they identify which features they need most and select a vendor that will help them achieve their goals. Technology vendors must guide family offices through the process by providing relevant information about their products.

Look for an outsourcing provider that offers state-of-the-art technology as well as a commitment to continual innovation and dedicated service and support. You should also choose a provider with the highest standards for security and protecting data. The right solution will be backed by industry expertise.

SS&C’s Family Office Services offers fully outsourced technology and operations as well as co-sourcing solutions for single and multi-family offices, endowments and foundations. Our one-stop solution reduces the cost, risk and time to integrate disparate systems.

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