The Future of Wealth and Asset Management Firms

Within the world of wealth and asset management, where fortunes are at stake, it’s imperative to have a robust accounting system that can seamlessly handle the complex financial operations and challenges unique to the industry. 

Sage Intacct, the leading multi-entity cloud accounting system, has emerged as a game-changer for WAM firms of all sizes. Whether you’re managing a modest portfolio or handling hundreds of millions in assets, Sage Intacct offers a solution that streamlines your financial processes, improves efficiency, and ensures compliance with industry standards.

The financial landscape for wealth and asset management firms is fraught with complexities. The challenges are numerous, from integrating data from various sources to calculating fair market value, monitoring performance, and consolidating results across multiple operating entities. 

Here’s how Sage Intacct can help you overcome these challenges and revolutionize your wealth and asset management operations.

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Continuous Consolidations Made Easy

One of the most time-consuming tasks for wealth and asset management firms is the process of continuous consolidations. Traditionally, this could take tens of hours, draining valuable resources and delaying financial insights. 

Sage Intacct changes the game by reducing the consolidation process from hours to just minutes. This efficiency frees up your team’s time and ensures that your financial data is always up-to-date and readily available for decision-making.

Streamlining Chart of Accounts

Managing a chart of accounts with thousands of entries can be daunting. Sage Intacct simplifies this by providing a shared dimensional chart of accounts, significantly reducing the number of entries to just a few hundred. 

Moreover, adding a new entity to your accounts is no longer time-consuming. Sage Intacct helps you achieve this in mere minutes, guaranteeing the constant accuracy and freshness of your financial records.

Instant Access with Dashboard Analytics

Sage Intacct stands out as an innovator in cloud technology, offering a true cloud model. Timely and actionable insights are crucial for wealth and asset management firms. Sage Intacct offers dashboard analytics that provides instant shared access to financial data and key metrics across multiple entities. 

This allows you to track performance and make informed decisions in real time. With the ability to monitor your investments and assets over time, you gain the upper hand in a competitive industry.

Collaborative Compliance Audit Trail

Compliance is a non-negotiable aspect of wealth and asset management. Sage Intacct ensures collaborative compliance by providing a front-to-back office audit trail of all transactions. 

This keeps you in line with industry regulations and enhances transparency and trust among stakeholders. You can confidently navigate the complex compliance landscape with a comprehensive record of all financial activities.

Customer Spotlight: Halstatt

Halstatt, a wealth and asset management firm, is a shining example of the transformative power of Sage Intacct. By implementing the system, they achieved remarkable results, including:

  • A staggering 90% reduction in costs compared to on-premises software.
  • Cutting 200 hours of work through continuous financial close processes.
  • Avoiding the need to hire 3-4 additional personnel.

Jason Gabauer, Controller at Halstatt, applauds the impact of Sage Intacct, saying, “With Sage Intacct, we are currently managing hundreds of millions of dollars worth of real estate, equity investments, and businesses. We are more efficient in everything we do, from GL to reporting.“

The Industry Leading Choice

Sage Intacct isn’t just any cloud accounting system; it’s the industry leader, the only accounting software recommended by the AICPA. With an industry-leading 96% customer satisfaction rating, it has become the go-to solution for family offices, wealth, and asset management firms. Its dashboards provide insight and visibility into managing over $500 billion in assets under management, making it a trusted partner for those managing wealth.

Mike Dolence, CFO of Pride Investment Partners, echoes the sentiment, stating, “Sage Intacct was the only option we had for the unique structure and reporting requirements of our business. Intacct also had a very robust system experience, giving us the tools and functionality we need day in and day out.”

In conclusion:

Wealth and asset management firms are not exempt from the complexities of the financial industry. With its cutting-edge features and success stories like Halstatt and Priode Investment Partners, Sage Intacct offers a compelling solution to address these challenges. 

Whether you’re looking to streamline your consolidation processes, simplify your chart of accounts, gain real-time insights, or ensure compliance, Sage Intacct empowers you to thrive in the competitive wealth and asset management world. 

With its proven track record and industry recognition, it’s time to consider Sage Intacct as the cornerstone of your financial success. Schedule a free discovery call, and our team can help you out.