Family offices are increasingly looking for dedicated software to help them manage and track their assets. They require a range of features that help in operating and reporting – from keeping track of all assets and managing deal pipelines to performance and financial reporting.
Whether you’re a single-family office or managing diverse portfolios for multiple families, our list aims to guide you in selecting the best family office software to streamline operations and drive sustainable growth.
7 Questions to Ask Your Family Office Software Provider
Which is theBest Family Office Software For Your Team?
In an era marked by rapid technological advancements and evolving financial landscapes, the demand for holistic family office software has never been greater. Whether it’s consolidating diverse assets, analysing their performance and costs or facilitating multi-generational wealth planning, the right software can significantly enhance operational efficiency. Below are some of the best family office software currently on the market.
Asora
Price: Tier depending on family office size, starting at €850 pm
Asora is a SAAS solution for single and multi-family offices to track and oversee assets, automating data capture and providing digital on-demand reporting on the web and mobile. It provides a single secure location for all the family’s data. The data is protected with always-on encryption and robust security protocols. Time-consuming manual handling of data and report creation are replaced with automated data feeds, comprehensive data cleansing and enrichment and digital on-demand reporting.
Key capabilities: Data Automation, Customisable reports, Private asset tracking, Deal pipeline, Task and document management
Explore Asora
Addepar
Price: AUM-based; flat fee
Addepar empowers family offices, financial advisors, and individual wealth ownersto use data to make informed decisions. The platform offers data aggregation, portfolio analysis, reporting, net worth tracking, and supports assets like bankable assets, private equity, real estate, collectibles, and cryptocurrency.
Key capabilities: Bespoke consolidated reporting, Look-through for complex nested ownership structures, Consolidated net worth tracking, Custom integrations with Addepar API Toolkit
Altoo
Price: Custodian use/Feature-based (per connected custodian), Manual Services (e.g. non-bankable asset support) by efforts
Founded in 2017, Altoo helps individual wealth owners, family offices, fund managers, and advisors consolidate bankable and non-bankable assets, monitor asset allocation, manage documents and tasks, and manage risks.
Key capabilities: Legal structure overview, Cashflow analyser/future cashflows reporting, Intuitive ‘Explore’ feature to analyse asset/performance
Canopy
Price: Flat fee pricing, data-based
The Singapore-based company offers family offices, wealth managers, private banks, and trustees a customisable data analytics solution offering data aggregation, accounting, impact/ESG reporting, and multi-bank/asset class/currency reporting.
Key capabilities: Customisable dashboards and reports, Document storage with custom tagging, Wealth Map, Can convert non-standardised data into the desired data format
Eton Solutions
Price: Based on client complexity and size
Eton Solutions’ AltasFive is an integrated wealth management system serving family offices, business managers, and wealth owners. The platform offers accounting, reporting, compliance, portfolio management, alternative asset management and tracking, and more such functions.
Key capabilities: Document management and AI-assisted search, Integrated secure messaging platform, General ledger data, Project tracking
Fundcount
Price: Starting at $6400/user/year
Fundcount provide back-office and client reporting software for family offices. This accounting and investment analysis solution’s key tasks include data aggregation, portfolio management, and accounting.
Key capabilities: Partnership and Portfolio accounting, Consolidated reporting, Unified general ledger, Data aggregation
Landytech
Price: Based on number of custodians, portfolios, legal entities, and assets.
UK-based Landytech’s helps family offices use data aggregation and analytics to make informed investment decisions. The platform, Sesame, also offers portfolio management, cashflow management, and reporting features.
Key capabilities: Automated bookkeeping, Custom reporting, Private asset reporting, Look through ownership structure
Masttro
Price: Flat fee pricing
Masttroserves single- and multi-family offices, wealth professionals serving wealth owners, and larger institutions. Offering a holistic view of your wealth, the platform helps with portfolio and task management, secure sharing and storage of documents, and easy integration with other tech platforms.
Key capabilities: Lots of report templates, Use of AI technology to extract fund reports, Wealth Map, Cryptocurrency tracking
Compare Asora vs Masttro
Orca
Price: Flat fee; seat based
Founded in Zurich, Switzerland in 2017, ORCA’s software offers data aggregation, reporting, document management features, and more. Orca was specifically built to deal with tax, legal, and compliance obligations for anyone who manages or owns ownership structures.
Key capabilities: Structured charts, Automated way of forwarding documents via email into software, Compliance and governance functions
PandaConnect
Price: Flat Fee; AUM/Feature-based
Founded in 1997, PandaConnect offers comprehensive services for diverse asset classes, aiding in wealth preservation and growth. With precise data aggregation and transparency, it provides families with institutional-level oversight, spanning multiple banks and currencies.
Key capabilities: Investment accounting and reporting, Auditors assurance reports, Performance measurement (MW, TWR, IRR), Data aggregation
QPLIX
Price: AUM-based
QPLIX deliversSaaS solutions for family and investment offices, wealth management, banks, and asset managers. The software maps liquid and illiquid asset classes, and accommodates various client structures, consolidating all investment data into thedatabase. Users can access real-time reports and analytics through the web portal or app.
Key capabilities: Customised reporting, Legal entities management, ESG rating integration, Private equity management
Swimbird
Price: Flat fee; feature and data (per data feed integrate)-based
The Swimbird Platform (SWIP) is a portfolio management solution offering users a holistic view of their entire portfolio. SWIP aggregates and visualises portfolio data, including assets and liabilities – all in real time. It can manage all financial instruments (listed and OTC), private equity, and alternative investments.
Key capabilities: Real-time dashboard, Customised reporting, Market and static data master, Data aggregation
Conclusion: How to Pick the Best Family Office Software
Given the diverse needs of family offices, it’s crucial to recognise that each software solution offers unique features and functionalities. To find out more about which software suits your needs best read our guide on choosing the right service provider for you. By leveraging our insights and expertise, you can make an informed decision that optimally caters to your family office’s operational demands, ensuring seamless management of wealth and assets while driving sustainable growth for generations to come.
Asorais a SAAS solution for single and multi-family offices to track and oversee assets, automating data capture and providing digital on-demand reporting on the web and mobile. Time-consuming manual handling of data and report creation are replaced with automated data feeds, comprehensive data cleansing and enrichment and digital on-demand reporting.
To learn more,schedule a demowith us.
** All images from company websites.
