CHARLOTTE, N.C., March 19, 2019 /PRNewswire/ -- Private Wealth Systems, Inc. — a global financial technology company that provides investment intelligence and active oversight to family offices around the world, has announced My Accountant, Inc. a leading provider of highly-customized bookkeeping and bill payment services to corporate executives, athletes, entertainers and family offices as the latest partner in its digital ecosystem.
Collaborating with My Accountant, Inc. allows Private Wealth Systems to offer full general ledger and bill payment services to family offices that want to outsource those functions to a proven, trusted service provider. Integrating general ledger accounting and bill payment with portfolio accounting and consolidated performance reporting provides a unique offering to global family offices that want to streamline operations, improve security, reduce technology expenditures without sacrificing control or oversight.
"We selected My Accountant, Inc. based on their deep domain expertise providing general ledger accounting and bill payment services to UHNW individuals and family offices throughout the Americas and Europe. There is increasing demand among family offices to outsource bookkeeping services, and My Accountant is the clear industry leader based on their decades long experience working with family offices and private banks around the world," said Craig Pearson, CEO Private Wealth Systems. "Our partnership with My Accountant, Inc. underscores our commitment to the global family office community to provide service partners that represent the absolute best in their respective fields, and to empower ultra-high net worth individuals with the information they need to gain active oversight over their wealth—regardless of complexity or geography."
The Private Wealth Systems ecosystem creates a single digital destination for ultra-high net worth individuals to more efficiently manage financial and non-financial assets, liabilities, income, and expense, transforming the traditional siloed approach to private wealth management. Rather than separately managing each aspect of wealth, the digital ecosystem creates a powerful connection to best-in-class services that had not previously existed in the private wealth space.
"Since our founding in 1987, we have felt that the combination of our bookkeeping and bill payment services with the aggregated overall financial data of wealthy individuals has unique value in providing information not readily available anywhere else. By partnering with Private Wealth Systems we are finally able to realize that dream and make our decades of experience available to a larger segment of the ultra-high net worth community " said William Farren, Founder and President of My Accountant, Inc. "Our experience in providing 30,000 to 40,000 transactions per year for clients matches perfectly with the capabilities of Private Wealth Systems."
"We will continue to select applications and service providers that have demonstrated expertise in serving and supporting sophisticated wealth to expand our digital ecosystem" said Pearson. My personal goal and firm's mission are to empower ultra-high-net-worth individuals to take an active role in managing their total wealth in the most efficient and effective manner possible."