Fixing Family Offices' Data Problem

Charles Paikert

29 April 2024

(An earlier version of this article, written by our US correspondent appeared on Family Wealth Report, sister news service to this one. While some of the areas are specific to the US, most aren't, and we hope readers in different regions will find these comments of value.)

If managing mountains of data is the problem for family offices and wealth managers – and it is – then what’s the solution?

Leading industry executives and experts offered a range of options at Family Wealth Report’s Family Office Fintech Forum in midtown Manhattan.

The biggest conundrum facing family offices is that even when they start to digitise the back office, they “still live in an analogue world,” according to keynote speaker Raymond Dinunzio, a partner with , software is the only third-party data integration technology for after-tax reporting on Addepar’s performance reporting platform.

K1x specialises in reducing back office clutter by moving, integrating and automating data in K-1, K-3 and 990 filings for alternative investment data distribution, said CEO John Lamancuso.

Mohamed Elzomor said he came to understand the “lifestyle challenges” of his wealthy clients as a personal trainer. He went on to co-found Nines Living and developed a “household management” platform app to centralise staffing needs and tasks ranging from car care to appliance warranties.