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Global Family and Private Investment Office Services

Family Office Technology Solutions

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Discover how we can work together to optimize your family office's operations and investments through cutting edge technology.

Family Office Technology Solutions Guide

Leverage powerful tools for data management and performance monitoring

Data management, performance monitoring, aggregation and reporting are each challenges for most family offices. We have designed a suite of award-winning technology solutions for family offices in order to address these challenges. These technology solutions can help you manage workflows more seamlessly and reduce friction in day-to-day office operations. Our systems, apps and tools all benefit from the Northern Trust firewall, coupled with constant monitoring against cybersecurity threats.

Video: Our Technology (1:45)

TAILOR YOUR TECHNOLOGY SOLUTION TO YOUR SPECIFIC NEEDS

Our on-demand, decision-ready tools and services for family offices include:

Wealth Passport®

Serving the needs of family members and their advisors, Wealth Passport® is an industry-leading technology platform developed by Northern Trust. Wealth Passport® takes advantage of our single operating platform, allowing our clients access to a vast range of information, reports, and market news. Backed by the experience, innovation and advisory capabilities of Northern Trust, Wealth Passport®’s integrated technology provides comprehensive information gathering and aggregation, resulting in a complete picture of a family’s net worth.

The Wealth Passport® platform also includes reporting features created for the most sophisticated financial and family structures, enabling family offices to save time and run more efficiently. In leveraging our global asset servicing infrastructure, our primary goal is to provide you with accurate asset aggregation and pricing, in-depth reports and a host of services to make the ‘family enterprise’ more effective.

To streamline the use of Wealth Passport®, clients can easily personalize their homepage to select which applications to use. Some of the information and tools available include:

  • Net Worth Summary
  • Alerts
  • Partnership Reporting
  • Cash Forecasting
  • Cash Movement
  • Corporate Actions Delivery & Response
  • Foreign Exchange Trading
  • Performance Measurement Reports
  • Investment Compliance Monitoring Tool
  • Market Reports & Bulletins
  • Portfolio Reporting and Inquiry
  • Regulatory Reporting
  • Trade Input

Anchor Analytics

Anchor Analytics allows you to navigate and report on your data in a simple and intuitive format using cutting edge technology. It possesses powerful reporting and data visualization tools that provide you with the ability to create countless data queries, to easily visualize data through automatic dashboard or chart/graph recommendations, to create and share reports across platforms, and to receive automated alerts on essential portfolio changes. 


Partnership Accounting and General Ledger

Investment partnerships impose accounting requirements on those responsible for tracking and reporting partner-level allocations. Northern Trust has Partnership Accounting solutions designed to address these complexities, streamline accounting processes and to optimize reporting.

 Key service levels include:

 Partnership Accounting

  • Fully automated income allocation and reallocation to partners.
  • Special allocations for including/excluding specific P&L by partner by either investment or general ledger account.
  • Capital activity contributions, distributions, unitary reallocations, allocations, automated deferred capital processing.
  • Automated incentive fees and management fees, including loss makeup and hurdle(s) relative to indices.
  • Capital-based or shares-based fund valuation.
  • Issue series of class shares.
  • Statement of changes, investor capital statement, entity performance, detail gain/loss and NAV calculation detail.

 

General Ledger

  • Entitlement/aggregate tax allocation methodology.
  • Layering tax allocation methodology, upon request.
  • Fully automated tax allocation to partners.
  • Produces tax worksheets for 1065 and K-1.
  • Easy drill-down and retrieval of information.

 

Client Specified G/L Feeds

For clients running their own general ledgers in-house, we have many automated custom interfaces in place for electronically feeding trust accounting data to client systems. These interfaces can run on a periodic schedule, on client demand, or both.

 We have management reporting templates that provide standard financial statements as well as on-line reports to meet ad hoc reporting needs. Northern Trust has existing interfaces with a variety of vended general ledger systems.



Mary E. Timmons

Mary E. Timmons

Chief Operating Officer
Mary Timmons currently serves as the Practice Chief Operating Officer of Global Family and Private Investment Office Services.

 

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© 2020 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. 

This information is not intended to be and should not be treated as legal advice, investment advice or tax advice and is for informational purposes only. Readers, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal or tax advice from their own counsel. All information discussed herein is current only as of the date appearing in this material and is subject to change at any time without notice.

Certain affiliates of Northern Trust may be utilized in providing investment management services, including Northern Trust Investments, Inc. and 50 South Capital Advisors, LLC, which are registered under the Investment Advisers Act of 1940.

This information, including any information regarding specific investment products or strategies, does not take into account the reader’s individual needs and circumstances and should not be construed as an offer, solicitation or recommendation to enter into any transaction or to utilize a specific investment product or strategy. This presentation is neither an offer to sell, nor a solicitation of an offer to buy an interest in an investment fund.