Legacy Systems' Expense: Indian Family Offices Migrating to All-Encompassing Solutions for Cost Reduction

In the coming years, an estimated USD 83 trillion in family wealth is set to be transferred globally, with India entering a critical phase of generational transition. The next generation of wealth holders is not content with mere summaries; they demand access, structure, and visibility. This digital-native generation is accustomed to real-time information, any-time mobile access, and seamless digital experiences.

To cater to this evolving demand, the AV PRO mobile app has been designed. This innovative tool provides a visual and informative dashboard, offering push notifications on capital calls, drift from investment policy, and upcoming maturities, all while maintaining control and privacy for principals.

However, many family offices face challenges in data consolidation and ownership. Traditional tools like spreadsheets and standalone tools have become bottlenecks due to the complexity of modern family offices. Asset Vantage, a comprehensive financial operating system, addresses this issue, providing partnership accounting capability and user-friendly geographical tagging for investments.

Asset Vantage is not tied to a legacy platform, offering flexibility and scalability that traditional systems lack. Wealth is no longer defined by what is owned, but by what can be seen, understood, and acted on, instantly. The cost of legacy systems is no longer hidden, as they have become bottlenecks and are unable to meet the needs of modern family offices.

The software Asset Vantage, developed for family offices to better visualize and manage their assets, was created by the company "Vantage," known for its financial and trading software platforms. While specific confirmation that this exact Asset Vantage product for family offices is developed by the Vantage Markets company is not directly stated, it is clear that the software is a product of a company with a strong background in financial technology.

The quote from a family principal highlights the simplification of complex financial data with customization as per needs, provided by Asset Vantage. Fragmentation of wealth information slows things down and undermines strategic thinking, leading to reactive decision-making instead of planning. Asset Vantage addresses this issue by providing entity-level audit trails, customizable chart of accounts, capital gains tracking, and multi-period performance metrics including IRR, TWR, and DVPI.

Security and privacy are essential for family offices, as they are seen as high-value targets with less institutional security than private banks. Asset Vantage runs on a private cloud environment with bank-grade encryption, role-based access, and full audit trails, ensuring the safety and privacy of family wealth.

Family offices are expected to provide transparent workflows, clean documentation, and reliable reporting, the foundation of which is an auditable system of record. Asset Vantage empowers global families and their trusted advisors to make better informed financial decisions, streamlining the wealth management process and enabling strategic planning.

For media enquiries, visit www.assetvantage.com or email [email protected].

Legacy Systems' Expense: Indian Family Offices Migrating to All-Encompassing Solutions for Cost Reduction