I am looking for portfolio management software for a family office. Any ideas? -Consolidate assets and transactions from multiple custodians and brokers, -Maintain cost basis information for tax purposes, -Calculate performance of accounts and related benchmarks, -Dissect investments into underlying fundaments such as market cap, sector, industry, and country location.
What’s your budget?
I have to say it, I love the name. Big Tymers song in my head now; “I’m the # 1 Gunna! Wh-what, wh-what, what?”
QuantJock_MBA Wrote: ------------------------------------------------------- > I have to say it, I love the name. > > Big Tymers song in my head now; “I’m the # 1 > Gunna! Wh-what, wh-what, what?” SMH its numba 1 stunna not gunna…
Haha, I know. I’m lead to believe that is where the name stems from though.
Use Excel. Unless you are using models that are very computationally intensive, Excel is probably the option that is cheapest, most flexible, and easiest to implement. Most market data providers also provide data in formats that can be imported into Excel.
-Consolidate assets and transactions from multiple custodians and brokers, Advent Axys -Maintain cost basis information for tax purposes, Advent Axys - Not user friendly for active trading though. -Calculate performance of accounts and related benchmarks, Advent Axys -Dissect investments into underlying fundaments such as market cap, sector, industry, and country location. ? Advent is very expensive. If this is a work question, Advent is a great solution. If this is a personal question, I’m at a loss to help you along.
Schwab Portfolio Center or Morningstar Advisor Office Edition.
Having used Advent Axys and other systems, I can’t recommend Axys. For one, it’s clunky and not user friendly. It’s also very pricey, as already mentioned. It seems like they nickel and dime you for everything and the price goes up with your AUM.
This is a work question, although I have to find something new for myself. Excel is not an option. Yes it is cheap and flexible, but it would involve either manual entry or downloads which are time intesive and subject to user error. I dont have time to be fixing errors. Advent seems to be the product of choice with a large share of the market. I have not looked at Porfolio Center yet. Morningstar Office cant handle institutional custodian services. Only retail focused platforms like eTrade. The sales guy said, “Northern who?” Seriously. I have also come across a bunch of back office providers that handle all the consolidation, reconcilation, and reporting. Fee minimums range from $20k to $50k per year. Regardless, I am still surprised that there isnt a plug and play solution out there.
Princeton Financial’s ePAM
I have used Advent and agree that it isn’t user friendly. I currently use both Portfolio Center as well as Morningstar. I know that Morningstar works with Schwab, TD, Fidelity, and Pershing. Portfolio Center is probably a better option but may require more work. Are you looking for something to use on a daily basis or for more active trading? You can contact me at mjb490 at gmail dot com for more info.
We use Black Diamond and love it. You may have to use ByAllAccounts for some of the aggregation if you don’t direct feeds. It’s not perfect, but they do a very good job. Pricing is around 2.5 bps depending on your AUM. I’ve talked to other users that came from Advent and Portfolio Center and both prefer Black Diamond.
Black Diamond is an outsourcing firm. They do all the work themselves and give you the final product. The price is right iat 2.5bps, but you lose the control of doing it yourself. Fortgent is another firm I found that is similar to Black Diamond. They also have a deep research effort too. Morningstar Office looks very interesting, but as mubutcfa points out, they only work with a handfull of retail brokers. I am going to look into Portfolio Center.
NEXT QUESTION: What do you use for your personal portfolio management software? I was using the online portfolio option at MSN Money. But they just announced they are “upgrading” the offering. This “upgrade” does not track cash positions in your portfolio and does not handle options. I’ll let you know what I find.
I’d take a look at Rockit too, which was developed with the Rockefeller FO
The.Unit.Root Wrote: ------------------------------------------------------- > We use Black Diamond and love it. You may have to > use ByAllAccounts for some of the aggregation if > you don’t direct feeds. It’s not perfect, but > they do a very good job. > > Pricing is around 2.5 bps depending on your AUM. > > > I’ve talked to other users that came from Advent > and Portfolio Center and both prefer Black > Diamond. Unit.root can you email me at mwvt99 at g mail dot com to discuss black diamond? I am looking to escape the advent trap
Gunner, Here is a list of all the major (and minor) systems: Adhesion Technologies, Inc* Advent AXYS, Advent Software, Inc* Advisors Assistant* AdvisoryWorld* Albridge Solutions AssetBookT, Major Technology Resources, Inc. Black Diamond Performance ReportingT Bullrun Financial CAPTOOL® Professional Investor, CAPTOOLS, Inc.* CENTERPIECE® Performance Technologies Charlotte®, SunGard Asset Management Systems Cornerstone PowerAdvisorT (formerly known as Cornerstone PowerBrokerT), Cornerstone Revolutions, Inc.* dbCAMS+, Financial Computer Support, Inc.* eWebPortfolio EZ-Data Financial Information Network (FIN) Fund Manager Advisor Interactive Advisory Software(IAS)* Interactive Advisory Software(LLC)* Investigo® Investment Scorecard, Inc. National Datamax Orion Advisor Services, LLC* Portfolio Director, Portfolio Systems, Inc. Security APL TechFi, Portfolio 2001
mwvt, Sent an email