How to satisfy an increasingly demanding UHNW client base
As a result from the increasing globalization and sophistication of clients, Santander has made significant efforts and investments in technology to continue to differentiate their high-end wealth management division. Consistent innovation is key to remaining at the forefront of the wealth management industry as the space becomes ever more competitive.
The Masttro Impact
With Masttro’s intuitive & custom branded wealth technology platform, Santander has been able to automatically aggregate all global financial accounts and non-financial assets for their clients on a daily basis without human intervention, giving them the ability to retain and build better client relationships no matter where the accounts reside.
Masttro’s automatic consolidated reporting has eliminated human error completely and saved Santander hundreds of man hours. As a result, bankers have the necessary tools to provide world class advice on a client's complete portfolio at their fingertips, wherever they are.
Background
- Seeking a wealth technology solution to consolidate all bank jurisdictions and provide innovative service to clients
- Looking for advanced, visual and intuitive client facing technology for improved reporting and communication
- Looking to advise clients on complete portfolio
Results
- Mobile bankers with information readily available through Masttro’s mobile apps
- Consolidated reporting is done automatically for any time period necessary
- Clients access reports and presentations through an intuitive and secure client portal, eliminating the unsecure use of email
- Increased client engagement and communication, resulting in more satisfied clients
Finding the right Family Office technology
PwC’s is changing the family office service industry. By leveraging their industry expertise with Masttro's technology, they have established a brand new Family Office practice in the United States and Canada. PwC will deliver an innovative hands on family office service that leverages the best wealth technology in the market.
The Masttro Impact
With Masttro, PwC can automatically aggregate any custodian around the world that their clients work with without the infrastructure and resource constraints needed to support a UHNW family office operation.
Automatic and efficient consolidated reporting on financial, non-financial and alternative assets has saved hundreds of manhours and removed human error completely. The removal of manual data aggregation has allowed PwC to focus all resources in providing the best advice and service to their clients.
Masttro’s wealth technology provides clients with a complete visibility of their net worth along with a family ecosystem that allows for safe and private sharing of documents and data.
Background
- Deliver an integrated family office solution that will differentiate PwC from competitors
- Ability to scale the family office service to thousands of clients efficiently
- Manual data aggregation and lack of consolidation
Results
- No human error and drastically improved accuracy of data through automated direct data feeds with all custodians
- Consolidated reporting, performance, reconciliation and portfolio monitoring
- Seamless setup and monitoring of a client’s legal structure
- Automatic accounting capabilities and general ledger integrations
Technology liberates the burden of time and attention
Increasingly complex and demanding client base have required Quattro to establish an RIA in the US. Meeting local regulations for both the Mexican investment advisor and the US RIA without significant investment is no easy feat. With Masttro, they have been able to seamlessly segregate the work ecosystem between the two operations, automatically meet local regulations, and automate the day-to-day admin needs of client reporting.
The Masttro Impact
Masttro replaces extensive stack of software needed for Quattro to meet operational needs. From software that required them to manually input all positions from European, Mexican and US accounts to local software to take care of compliance and investment management.
With Masttro’s client portal, they have a secure and custom branded communication channel where standardized reports, presentations and any communication are shared with clients.
To this day, thanks to Masttro's technology they are on the way to adding their first full Family Office client, which will be the beginning to their new Multi Family Office offering.
Background
- Retain clients wanting to be domiciled outside of Mexico due to country risk
- Ability to scale the business to consolidate and report on global accounts without infrastructure constraints
- Manual data aggregation and lack of standardized reporting
- Unable to operate and meet regulations in multiple countries efficiently
Results
- Automated account aggregation for any custodian in the US, Europe, Mexico and globally
- Local regulations automatically met through automated compliance
- Ability to expand to a Multi Family Office offering by managing non-financial assets and alternatives intuitively
- Hassle free operation of both businesses through technology
Disruptive wealth technology for an innovative Multi-Family Office
Adopting the right technology provider makes a great difference to Multi-Family Office operations. Automatization, institutionalization, transparency, data security, asset control and a customized service to clients are key to stand out in a competitive industry. With Masttro, Wealthness has a technology partner that supports the consolidation & administration of financial and non-financial holdings as well as a tool for monitoring and reporting globally diversified and complex assets.
The Masttro Impact
The Masttro platform has institutionalized the firm in a one-stop-shop solution. Slow and inaccurate manual processes such as financial consolidation of bank positions and performance reporting are now automized.
Decision making is faster with reliable updated daily information; management, planning and control of complex ownership structures are greatly simplified. Wealthness clients have a much stronger awareness of their global consolidated wealth, resulting in a better client experience.
Masttro has been key to business efficiency improvement, higher data reliability and top-notch data security.
Background
- Search for true automatic consolidation of local and global banks to meet UHNW Clients needs
- Lack of thorough cybersecurity in other vendors
- Longstanding trainings and never-ending implementation processes
Results
- Masttro’s global platform allowed quick integration of all custodian banks
- Clients have a complete tool to organize and manage all non-financial assets and to achieve a consolidated wealth report
- Highest infrastructure and encryption standards are met with Masttro
- A user-friendly interface and structured implementation process saved considerable onboarding time
Technology for custom-tailored, multi-disciplinary advice
Bitterroot Capital Advisors, LLC (“BCA”) is the trusted Advisor and quarterback to a small group of UHNW private individuals and family offices seeking comprehensive advice for their multi-asset class, multi-custodian, and multi-currency portfolios. BCA combines its core investment and financial expertise with advice from other specialists – such as tax, trust and estate, legal and banking – to provide custom-tailored solutions and services to its US and international clients. By leveraging Masttro’s wealth technology, BCA can deliver its very personalized services with immediacy to meet the planning and execution needs of its complex clientele.
The Masttro Impact
Masttro enables BCA to leverage its efforts and deliver solutions much more effectively. With Masttro, BCA can integrate client data from many investment managers and custodians to offer thoughtful guidance in real-time. Using Masttro’s platform, BCA structures client data for ready use, providing greater speed and insight. For regulatory purposes, Masttro serves as a living repository of custodial account information.
Masttro’s wealth technology is uniquely suitable for BCA’s clients, offering complete visibility of net worth, including non-traditional assets and complex ownership structures. Masttro’s patented estate mapping tool enables BCA, its clients, and other advisors to visualize their ownership structure more clearly, and to retain qualitative details, associated contacts, and key documents for immediate retrieval.
Objectives
- Deliver BCA’s unique multi-disciplinary services using technology providing immediate and meaningful information.
- Aggregate data from multiple custodians to offer clients a flexible and comprehensive view, putting their needs first without requiring conformity with industry practice.
- Efficiently scale BCA’s front-to-back-office operations beyond reporting needs, increasing transparency and availability.
- Utilize a technology platform that supports BCA’s endowment model approach to employing and overseeing external managers.
Results
- BCA can “deliver the information clients really want to see.” Client data are readily available and structured in a meaningful way for BCA’s immediate use.
- Immediate visibility into portfolios, performance and risk exposures results in more time for BCA to ask questions and pursue new ideas.
- Consolidated reporting on investment performance, investment manager, asset values and exposure across all holdings, accounts, entities, asset classes and currencies.
- Scaled front-to-back-office operations. For regulatory reporting purposes, Masttro is leveraged as a living repository of custodial account information.
- User interface across desktop and mobile appeals to BCA’s enterprising clients.
What’s the Right Family Office Technology?
PwC is changing the family office service industry. By leveraging their bench strength and industry expertise and pairing it with Masttro’s leading wealth technology, they have established a unique Family Office solution to fully meet the accounting and portfolio reporting needs of enterprising families and individuals.
The Masttro Impact
With Masttro, PwC can automatically aggregate data from the 400+ custodians in our global network, and establish new connections with custodians with whom PwC clients work, without the infrastructure and resources needed to support an in-house UHNW family office operation.
Automatic and efficient consolidated reporting on financial, non-financial, alternative and other private investments saves hundreds of hours and reduces human error vs more manual alternatives, all while providing secure and timely transparency to stakeholders. PwC’s service frees up time and provides valuable information for clients to help improve strategic decision-making, asset allocation, diversification and other key areas of focus.
Masttro’s wealth technology provides clients with complete visibility of their net worth along with a digital vault that fosters safe and private sharing of documents and data.
Objectives
- Deliver a differentiated and integrated family office solution by combining Masttro’s technology with PwC accounting, tax and operational expertise.
- Offer clients a managed service that is comprehensive and flexible to meet their needs.
- Scale PwC’s Family Office solution, Wealth Compass, across a broad network of clients and prospects.
- Solve for a long standing UHNW client challenge of manual data aggregation and lack of meaningful and timely consolidated reporting.
Results
- Diminished processing errors and drastically improved data accuracy through automated direct data feeds and artificial intelligence.
- Better visibility into total portfolios, performance and risk exposures.
- Consolidated reporting, performance, reconciliation and portfolio monitoring seamlessly integrated with PwC’s automated general ledger bookkeeping, account reconciliation, bill pay, payroll and tax solutions.
- Rapid onboarding with efficient data migration and on-demand collaboration, training and guidance that is tailored to client needs.
- Appeals to UHNW Individuals, Family and Multi-Family Offices, as well as RIAs and Private Equity investors.
Technology for one-stop, full-service financial management
Kilter Group goes beyond the basics to grow and maximize its clients’ assets. The financial manager prides itself in handling all aspects of its clients’ financial lives to deliver freedom, balance and peace of mind for its clients. As part of its tech-enabled strategy, Kilter Group uses Masttro’s wealth technology for its flexibility, scalability and innovation to serve its enterprising client base at any stage of their financial journey.
The Masttro Impact
Masttro enables Kilter Group to better serve its growing, upwardly mobile clientele much more effectively. With Masttro, Kilter Group can visualize each client’s estate and its investments’ financial performance in a readily available and meaningful way.
Masttro’s wealth technology is uniquely suitable for Kilter Group’s clients as it offers complete visibility of non-traditional assets and complex ownership structures, which may be incorporated opportunistically as part of Kilter Group’s sophisticated investment strategies. Masttro’s scalability allows for Kilter Group to flexibly offer a limited to full service experience enabled by Masttro’s cutting-edge wealth technology.
Objectives
- Finding a technology partner that aligns and commits to the long-term growth view of its clients.
- Simplified data visualization for ease of data consumption for Kilter Group and its clients.
- Ability to track and organize complex estate designs.
- Investment reporting and document storage across all assets, including non-traditional assets.
- Scalable technology platform that flexibly supports Kilter Group’s full range of financial planning services.
Results
- After evaluating more than a dozen companies, Kilter Group partnered with Masttro based on its mutual focus on growth, innovation and service.
- Kilter Group’s client data is structured visually in a meaningful and customizable way for ease of consumption across a client’s full balance sheet.
- Immediate visibility into the most complex estate structures at both a high-level and in granular detail to provide clients full transparency.
- Kilter Group’s Founder shared, “Masttro has been a true technology partner to us. We feel their long-term commitment to us as their clients in every interaction with their team. Masttro’s service is a true differentiator. We have created a partnership that I truly believe will last for decades.”
