Private Client Resources (PCR), a provider of total wealth data aggregation services to UHNW families, Trust Companies, Private Banks, and Investment Advisors, has partnered with AltaReturn, a provider of back and front office solutions for the Private Equity and Family Office industries.
The integrated solution will combine PCR’s data aggregation capabilities with AltaReturn’s accounting and reporting services to streamline the reconciliation and reporting function for both single and multi-family offices.
Automating the consolidation of information from the complex holdings of the ultra-high-net-worth (UHNW) has long been a challenge for family offices and their advisors. With 50 per cent of UHNW holdings often in hard-to-aggregate illiquid investments, the systems that account for and analyse portfolios often rely on manual and error prone processes. The partnership will ensure AltaReturn clients will have the most accurate and complete data that will support their decision-making process on a daily basis.
“We are pleased to be partnering with AltaReturn to offer their clients a total wealth aggregation solution that delivers actionable data from every asset class and instrument type directly into their accounting platform,” says Robert Miller, CEO of PCR. “We very much admire AltaReturn and their differentiated approach to proactively addressing this accounting problem as well as their commitment to help clients streamline the engine of all good decision making – great data.”
“AltaReturn serves some of the largest and most prominent families in the country, represented by over USD60 billion in assets on the platform,” says Rey Acosta, CEO of AltaReturn. “By developing this integration between PCR and our own accounting and reporting solutions, AltaReturn’s SFO/MFO clients can save significant time and resources in getting the right information to the right people – quicker, easier and with less error.”
