Wealth Management – The Controller Pain Chain – Part I

  • By zoltan-szakal
  • October 27, 2016


Continuing our analysis of the Pain Chain as it relates to Wealth Management, this week and next we will explore the pain points of the Controller in a Wealth Management Organization

Wealth Management Goal 1 – Maximize Growth and Profitability across the Operating Companies

The Requirement

You need to generate integrated financial and management reports for the Chief Financial Officer and Chief Investment Officer that consolidate and drilldown by operating company, location, customer, instrument, currency, …. You need to close different entities for period ends and consolidate across entities with full multi-currency support.

The Pain

Today you use Excel and batch imports from multiple databases. It takes 10’s and sometimes up to 100 hours to deliver these and the process is very error prone. When they want more information or a drilldown it can take 10’s of hours to do. Now they want not only to close the books quarterly but to have monthly management dashboards.

The Need

To quickly produce consolidated reports that allow the CFO and CIO to drilldown and dice and slice themselves with full multi-entity and multi-currency support.

Wealth Management Goal 2 – Minimize Cost to the Operating Companies through Shared Services

The Requirement

You need a better way than setting up, installing, maintaining, administering and running a separate system per operating company.

The Pain

Today you copy data between multiple databases and synchronize changes. You have thousands of accounts.

The Need

To share cross-entity data and activities such as (a) Customers, vendors and GL accounts (b) Centralize payments on behalf of operating companies (c) Centralize receivables for many or all of the operating companies (d) Centralize check cutting for many or all of the operating companies (e) Apportion AP invoices to multiple entities.

The Solution Remains The Same

The World’s Leading Multi-Entity Cloud Accounting System for Investment Management Firms.

Intacct works with data-driven Chief Financial and Chief Investment Officers who need access to integrated financial and management reports, across their holding and operating companies, in minutes not 10’s or 100’s of hours, to grow and drive their investment business.

Intacct is the only cloud accounting system, chosen by the AICPA that provides best-in-class, continuous consolidation and drilldown across multiple funds reducing rollup times from up to 100 hours to minutes with full GAAP compliance and a 97% customer satisfaction rating

Find out how one Wealth Management Company optimized their Finances. View the On-Demand Webinar here.

Since we are on the topic of Wealth Management, if you are in the Toronto area and plan on attending Quant World Canada 2016 on November 10th, drop by the Black River booth, we will be there and would very much look forward to seeing you!


Views From The Cloud Wealth Management