(Charlotte, NC) May 29, 2018—When British voters chose to leave the European Union with the landmark Brexit vote in 2016, fear and uncertainty led to a mass sell-off, causing stock markets around the world to lose over $2 trillion—the largest single loss in history1 and an event highlighting just how fragile wealth can be when facing fallout from global events. Rapid globalization and growth in international trading have caused wealth management to be become increasingly more complex as investments become diversified across global jurisdictions, banks, managers, and asset classes, amplifying the risk that political and global events pose to investor portfolios. Private Wealth Systems, a global financial technology company that provides cloud-based financial software and data management services to family offices, private banks, and wealth managers, offers a solution: consolidated portfolio management and reporting software that combines account aggregation with data reconciliation, performance calculation, and client reporting in a single, integrated platform empowering those who manage complex wealth with the ability to gain instant access, understanding, and actionable oversight across banks, investment managers, asset classes and currencies as real time events unfold around the world. The company’s software allows users to create their own risk profile and categorization for any and all holdings across public and private investments for personalized risk analysis for even the most complex portfolios. Brexit was not the only recent major world event to affect investor wealth, and as the debate between nationalism and globalism has taken center stage over the past few years, stock markets have been along for the ride. As national interests shift across the globe, stock markets and investor portfolios shift dramatically, as well. Recent political developments, such as the Trump administration’s announcement of potential tariffs on steel and aluminum imports and fears of a trade war between the U.S. and China, have caused stock markets to take sudden dives2, impacting the wealth of high net worth individuals (HNWIs) who have increasing exposure to foreign investments.
These events challenge asset managers, who must minimize risk to their clients’ wealth while staying on top of increasingly varied investments. As HNWIs increase investments in foreign countries, their wealth becomes more susceptible to international affairs, and unless wealth management offices can monitor and factor in global events in real time, such wealth is more fragile than ever before, making the need for accurate consolidated investment reporting apparent.
Private Wealth Systems’ software pairs big data with predictive analytics in a cloud-based platform that provides a single, integrated-yet-modular solution for today’s modern financial institutions, giving them access to consolidated reporting of investment data that captures, consolidates, calculates, and reports across all banks, all public and private asset classes, all currencies, regardless of complexity—all in one place.
In the past, wealth managers could only see what assets were held in their own firms, Private Wealth Systems’ wealth management software captures transaction-level data across sophisticated investors’ entire portfolios, giving a complete, scalable picture of their wealth. Wealth managers can now access hundreds of standard and custom reports, see performance calculations on a single dashboard, and monitor and predict risks during national or global crises, enabling them to make better, more informed decisions in real time as events unfold and market changes occur. To ensure the accuracy of all reported data and that such data is updated, actionable and relevant to investors, Private Wealth Systems also performs daily transaction-level reconciliations.
“Having instant access, understanding, and oversight over the most complex investment portfolios is quickly becoming a must have for family offices, sophisticated investors, and wealth advisors,” says Craig Pearson, CEO of Private Wealth Systems.
Private Wealth Systems’ data solutions and investment reporting provide the easiest, most accurate, most comprehensive, and most cost-efficient way to empower those who manage complex wealth with the information they need to preserve and grow that wealth.
Private Wealth Systems’ platform is specifically designed to support the complexities of high net worth and ultra-high net worth wealth with over 300 direct data feeds to banks in the Americas and Europe, and 175 transaction codes that support all asset classes including standard marketable securities, structured products, alternative assets including private equity, hedge funds, real estate, direct investments, loans and notes, as well as physical assets such as art and collectibles regardless of country, currency or ownership structures.