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How to Choose a Technology Suite for Your Family Office
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Choosing the right software for a family office isn’t just about tools – it’s about strategy, control, and setting your team up for long-term success. With complex portfolios with alternative investments like real estate and other illiquid assets, today’s family office professionals need a technology platform that delivers clarity, security, and real-time insights across their entire portfolio.
Whether you’re a small single family office (SFO) or a global multi-family office (MFO), selecting the right solution means enabling informed investment decisions, improving client service, and positioning your team for sustainable growth.
“Masttro is a family office engine that can consolidate all types of information related to the family. Not only the financial, the lifestyle assets, also legacy and different activities that are related to the family.” — Alejandro Bazúa, Founder, Single Family Office
Key Takeaways
Define your core challenges first – Identify operational gaps in asset tracking, reporting, and portfolio consolidation before evaluating vendors.
Insist on secure, centralized visibility – Choose a cloud-based platform with bank-level encryption, data ownership, and customizable access controls.
Prioritize the wealth owner’s experience – Select solutions that offer intuitive dashboards and family mapping, not just back-office tools.
Avoid AUM-based pricing models – Look for flat-tiered pricing that supports growth without penalizing expanding portfolios.
Step 1: Know What You’re Solving For
Before reviewing any software solutions, assess the full scope of your family office operations. What are your challenges with asset tracking, document management, or tax reporting? Are you overseeing a multi-asset portfolio that spans geographies and asset classes?
Alejandro Bazúa, founder of a Mexico City-based SFO, shared their primary challenge that had them search for a software solution:
“We were struggling to consolidate all the information in one place, to not only integrate financial assets, but the other types of assets families have.”
That’s the purpose of a single platform solution like Masttro: one source of truth that supports both portfolio management and strategic planning.
Step 2: Demand Secure Visibility
Family office technology must deliver secure visibility across your financial operations. With increasing exposure to cyber threats, your team needs cloud-based platforms with bank-level encryption, client-owned data, and advanced permissioning features.
Family offices understand the sensitive nature of their wealth data, as Pola Zaga, Director of a family office in Mexico City, explains:
“It’s difficult for us to trust other people with delicate information, so the fact that we can manage all our own information ourselves on the platform, this is another important reason we chose Masttro.”
Modern platforms like Masttro enable peace of mind by combining direct custodian data feeds with military-grade security for dynamic yet secure data access and control.
Step 3: Make Sure It’s Built for the Wealth Owner
Your technology provider should prioritize the user experience, built for the wealth owner and not just the back office. Client engagement tools such as intuitive dashboards, customizable access, and visual asset allocation maps are essential.
Daniel Forman, Chief Investment Officer at the SFO Jefferson River Capital, notes how this was one of the reasons why they chose Masttro as their solution:
“Visually, from a user interface perspective, this is by far the easiest platform to add assets and to see our family mapping.”
The ability for users to easily view the balance sheet – including non-financial assets, estate planning structures, and cash balances – is what separates general tools from purpose-built family office software solutions.
Step 4: Evaluate Alternatives Reporting as a Priority
Alternative assets are no longer fringe – they’re central. Your platform must support everything from capital calls and cash flows to performance analytics and advanced analytics for illiquid investments.
Mitchell Nevin from Jefferson River Capital described how Masttro’s ability to easily onboard and manage complex alternative asset portfolios was a notable feature:
“In three months or less, we were able to input everything and start tracking performance the way we wanted.”
Without robust performance reporting for alternatives, you’ll be left with intermittent snapshots that can’t support informed decisions or meet modern reporting requirements.
Step 5: Look for a Partner, Not Just a Product
Family office clients need more than features – they need exceptional service and an expert team that understands the nuance of wealth portfolios and family governance. The right software solution can even enable multi-family offices to expand their service offering.
Henry Urquidi of Futura Asset Advisors puts it well:
“With Masttro we have the tools to manage assets that are nontraditional, and that’s translated into an opportunity to provide a much broader service than investment management.”
When choosing a digital solution, prioritize vendors with experience supporting family office leaders, financial advisors, and wealth advisors – especially those managing wealth across generations.
Step 6: Avoid AUM-Based Pricing
Many software providers charge based on assets under management (AUM), which in essence penalizes family office growth. Look for platforms like Masttro that use fixed annual pricing, making them ideal for high-net-worth families with broad range portfolios.
Masttro structures its annual pricing into three tiers, Standard, Professional and Enterprise, meaning your family office doesn’t pay for features it doesn’t require, and is never penalized based on AUM growth.
Step 7: Demand More from Reporting
You need comprehensive reporting that serves both your family office team and the wealth owner. That means:
- Real-time dashboards with actionable insights
- Customizable reports by asset class, region, or owner
- On-demand analysis of client relationships, fees, and performance
- Full integration with bank accounts, legal docs, and accounts payable
Sergio Guerrero, founder of a multi-family office, sums up how powerful reporting can make a difference to client understanding of their wealth:
“Masttro has helped clients focus on the big picture. Where are we making the money? Where are we losing the money? Which banks are doing well? Which banks are not doing well.”
Final Thoughts: Choose a System That Grows With You
The right technology solution becomes the core of your growth strategy. It supports:
- Consolidated wealth reporting across global jurisdictions
- Real-time analytics for investment decisions
- Robust risk management and tax planning workflows
- Scalable infrastructure for future generations
From North America to Europe – whether you’re a Zurich-based multi family office or a dynamic team in Latin America – choosing a platform like Masttro means choosing visibility, efficiency, and control.
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