LGT Wealth India, a private wealth management firm and part of the LGT Group, has collaborated with Asset Vantage (AV) to provide a first-of-its-kind full-stack digital family office and portfolio analytics solution for UHNIs and private offices using the best-in-class technology.
“Through this collaboration, both companies have come forward to deliver a superior technology solution, which seamlessly consolidates portfolios across multiple accounts and investments for family offices,” say the companies.
The platform aggregates wealth and accounting data across geographies and for family investment entities like individuals, limited liability partnership companies, public limited companies, and trusts. Equipped with a breadth of management features (MIS), the platform provides integrated views of a family’s net worth.
Another key feature is monitoring adherence to a stated investment policy and the associated investment risks. An added benefit to our clients is that they can contact their preferred firms to audit their underlined data.
The data extracted on the platform helps offer insightful intelligence and analytics on investments and financial performances. This single view of the entire investment portfolio is designed to provide an overall portfolio-level position rather than just an investment security-level perspective.
High net worth individuals (HNIs) and UHNIs (ultra-high net worth individuals) have investments across various distributors, advisors, brokers, demat and bank accounts, and directly with AMCs, all of which may be handled in isolation.
The solution assists in comparing the performance as well as identifying risk limits for the portfolio. It offers data reconciliation, investment analytics, performance matrices, and investment tax details through a fully integrated accounting ledger system. This robust wealth-tech system can produce dynamic reports for family offices across family members, family entities, asset classes, currencies, and advisors, all of which can be generated for customizable timelines.
“We are excited about this collaboration and the launch of the LGT Wealth India Digital Family Office, which is a milestone for our organization. This reinforces our endeavour to provide best-in-class solutions for our clientele. In our constant effort to deliver client-centric solutions, we realized a need to develop one that is easily accessible, offers a holistic view of investments and accounting for identifying risks and provides in-depth portfolio analytics,” says Atul Singh, managing director and chief executive officer of LGT Wealth India.
“Effective asset allocation, performance, and risk analytics are possible only on the back of accounting-based data of accurate and reconciled financial information across family members, entities, asset classes, geographies, currencies, advisors, AMCs, banks, demat, and multiple other sources. It is almost magical how clean and concise aggregated data can help families focus on knowing where the investments are, their performance, and their risk,” adds Nimish Shah, managing director of family office and portfolio analytics at LGT Wealth India.
“We are delighted to collaborate with LGT Wealth India, to help bring global best practices in integrated investment reporting and accounting technology to help them create a Digital Family Office product for their high-net-worth customers,” notes Chirag Nanavati, managing director of Asset Vantage, India.
“AV brings to LGT and its Indian UHNIs and family office clients the same technology used globally across hundreds of family offices. With the growing wealth and complexity of its Indian clients, LGT can leverage AV’s global technology experience to the advantage of its clients. The bundling of AV’s tech platform with LGT’s international wealth advisory services gives LGT clients the edge they need to manage generational wealth,” he concludes.