Family Office Technology Hub

Interview Date: February 25, 2025. Moderator: Paul Freeland (Partner, Family Enterprise, PwC US). Guests: Alex Lee – Co-Founder & CEO, Truewind. Gareth Hewitt – CEO, LemonEdge. About the Moderator: Paul Freeland is a Family Enterprise Partner at PwC with over 25 years of experience in the fintech industry. He leads PwC's Wealth Compass managed service, focusing on the technology and reporting needs of family offices and ultra-high-net-worth individuals. Paul specializes in long-term planning, asset aggregation, and partnership administration for family investment pools. Truewind, based in San Francisco, develops an AI-powered accounting platform that automates routine tasks and streamlines monthly close processes with top-tier data security. Its AI agents handle data categorization, documentation, and client follow-ups, freeing accountants to focus on strategic work. Trusted by firms like EisnerAmper and fast-growing companies such as Wefunder and Mozart Data, Truewind is backed by industry leaders including Thomson Reuters Ventures, Y Combinator, and Fin Capital. LemonEdge is a next-generation fund accounting, management and reporting software for private markets. Its state-of-the-art accounting engine is purpose-built for private markets firms battling complexity and searching for efficiency. With event-driven transactions, multi-ledger management and process automation, it makes the complex simple and the time-consuming efficient. Join us for our monthly live Tech-NEW-logy sessions: fotechhub.com. For questions or connections, email us at [email protected].

Interview Date: January 23, 2025. Moderator: Gemma Leddy – Partner, PKF O'Connor Davies Family Office. Guests: Kirby Rosplock – Founder & CEO, Tamarind Learning. Lou Daddario – Chief Revenue Officer, Foundation Source. About the Moderator: Gemma Leddy is Partner in Charge at PKF O'Connor Davies Family Office. Gemma leads the award-winning Family Office practice, delivering financial management, tax, and advisory services to ultra-high-net-worth clients. With her experience as a CFO and CPA partner, she has supported family offices, investment firms, nonprofits, and other industries, including art and real estate. Tamarind Learning provides a wealth education platform designed for affluent adult learners (18+), covering essential topics like financial literacy, investing, trusts, tax, estate planning, and stewardship to equip learners with the knowledge to manage wealth responsibly. Foundation Source simplifies private foundation management with comprehensive support services, enhancing philanthropic impact for families, individuals, and advisors. Join us for our monthly live Tech-NEW-logy sessions: fotechhub.com. For questions or connections, email us at [email protected]

Link to the full episode:⁠⁠Listen Here⁠⁠

Detailed show summary available on the Episode Page

Interview Date: January 23, 2025
Moderator: Gemma Leddy – Partner, PKF O’Connor Davies Family OfficeGuests:

• Kirby Rosplock – Founder & CEO, Tamarind Learning
• Lou Daddario – Chief Revenue Officer, Foundation Source

About the Moderator
Gemma Leddy is Partner in Charge at PKF O'Connor Davies Family Office. Gemma leads the award-winning Family Office practice, delivering financial management, tax, and advisory services to ultra-high-net-worth clients. With her experience as a CFO and CPA partner, she has supported family offices, investment firms, nonprofits, and other industries, including art and real estate.

Tamarind Learning⁠ provides a wealth education platform designed for affluent adult learners (18+), covering essential topics like financial literacy, investing, trusts, tax, estate planning, and stewardship to equip learners with the knowledge to manage wealth responsibly.

Foundation Source⁠ simplifies private foundation management with comprehensive support services, enhancing philanthropic impact for families, individuals, and advisors.

Join us for our monthly live Tech-NEW-logy sessions: FOTechHub.com. For questions or connections, email us at [email protected].

Recorded live at our November 2024 Virtual Tech & Ops Conference, this panel delves into how digitization is transforming life for family offices and UHNW advisors. The discussion covers AI's role in private investment access and management, and how technology is reshaping the future of fund structures versus direct investments.

The panel was moderated by Danielle Roseman, MD, Co-Head at Lazard Family Office Services. Daniells panelists were: 

Joe Larizza, MD, Data Solutions, iCapital

Full Episode is available on our members podcast: ⁠⁠⁠Listen Here

Full Episode is available on our members podcast : ⁠⁠Listen Here⁠⁠

A live panel from our November 2024 Virtual Tech & Ops Conference covering how outsourced family office providers approach selecting and implementing technology to meet client needs, reduce risks, drive transformation, and gain leadership buy-in. It also touches on balancing cost and innovation to ensure success for both their firms and their clients.

The panel was moderated by Michael G. Perez, MD, from the Family Office Practice at F2 Strategy. Michael's panelists were: 

• Patty Esslinger, VP & Head of Product at Trove Family Office
• Sophia Loh, Partner-in-Charge of Family Office Practice at Frank, Rimerman + Co.
• Neil Shapiro, Head of Family Office Practice at TAG AssociatesJoin out Network: ⁠FOTechHub.com

Full Episode: ⁠Listen Here⁠

See Detailed Show Summary on the ⁠Episode Page⁠

Interview Date: December 19, 2024

Moderator: Erin Hulse (Founder & CEO, Deviate Consulting)
Guests:

• Alan Pearl – Director of Client Service & Business Development, Fi-Tek Wealth Solutions (RockIT)
• Kareem Hamadi – CEO & Co-Founder, AltExchange (Now part of iCapital)

About the Moderator
Moderated by Erin Hulse, founder of Deviate Consulting, a software consulting firm specializing in family offices. Erin brings extensive experience in accounting, software implementation, and private wealth.

AltExchange simplifies alternative investment reporting with automated data aggregation and enhanced transparency, recently acquired by iCapital to advance its data management capabilities.

Fi-Tek Wealth Solutions offers Rockit® Command, a technology platform originally built by the Rockefellers, streamlining multi-generational family office operations and providing comprehensive reporting solutions.

Join us for our monthly live Tech-NEW-logy sessions: FOTechHub.com. For questions or connections, email us at [email protected].

Summary:

(03:48) Speaker introductions

(05:15) RockIt Command Overview: developed by the Rockefellers for family office needs, and its evolution after Fi-Tek's acquisition in 2016

(09:18) Modularization and integration with Fi-Tek's wider wealth platform

(12:19) Implementation challenges: collaboration and co-sourcing

(17:26) Modularization trends and challenges with legacy general ledger systems in family office tech

(20:28) Data Integration for RIAs and family offices, including alternative investment support

(30:11) AltExchange: founding, interoperability, and leveraging AI

(33:55) AltExchange Differentiators

(41:59) iCapital Acquisition: insights into AltExchange’s integration with iCapital for post-investment reporting capabilities

(47:58) Pricing Models

(56:10) Future Roadmaps

Full Episode is available on our members podcast. Interview Date: December 19, 2024. Moderator: Erin Hulse (Founder & CEO, Deviate Consulting). Guests: Alan Pearl – Director of Client Service & Business Development, Fi-Tek Wealth Solutions (RockIT). Kareem Hamadi – CEO & Co-Founder, AltExchange (Now part of iCapital). About the Moderator: Moderated by Erin Hulse, founder of Deviate Consulting, a software consulting firm specializing in family offices. Erin brings extensive experience in accounting, software implementation, and private wealth. AltExchange simplifies alternative investment reporting with automated data aggregation and enhanced transparency, recently acquired by iCapital to advance its data management capabilities. Fi-Tek Wealth Solutions offers Rockit Command, a technology platform originally built by the Rockefellers, streamlining multi-generational family office operations and providing comprehensive reporting solutions. Join us for our monthly live Tech-NEW-logy sessions: fotechhub.com. For questions or connections, email us at [email protected]. Summary: Speaker introductions. RockIt Command Overview: developed by the Rockefellers for family office needs, and its evolution after Fi-Tek's acquisition in 2016. Modularization and integration with Fi-Tek's wider wealth platform. Implementation challenges: collaboration and co-sourcing. Modularization trends and challenges with legacy general ledger systems in family office tech. Data Integration for RIAs and family offices, including alternative investment support. AltExchange: founding, interoperability, and leveraging AI. AltExchange Differentiators. iCapital Acquisition: insights into AltExchange's integration with iCapital for post-investment reporting capabilities. Pricing Models. Future Roadmaps.

Join our network at ⁠FOTechHub.com⁠

A live panel from our November 2024 Virtual Tech & Ops Conference discussing AI adoption in family offices, with practical use cases, challenges, and insights from leading industries.

Summary 
00:30 Part 1: Tania Neild & Yoni Malchi 


03:15 AI's Evolution: Differentiating traditional machine learning from generative AI, which rose with ChatGPT in 2022.

6:30 Security & Data: Securing gen AI, addressing risks of public data training, and methods like fine-tuning and RAG for proprietary data.

10:40 Applications & Limits: AI's growing but limited ability to process data tasks like balance sheets and general ledgers; improvements in GPT-40's table and diagram processing.

12:50 Security Tips: Virtual private clouds vs on-premises solutions, and guardrails to prevent bias, data leaks, and prompt injection.

15:00 Part 2: Discussion of practical use cases


16:00 Panelists: Amy (single-family office, 30 employees), Tim (multifamily office, 60 employees), and Neil (large organization, 1,000 employees). Three AI Strategies: Co-Pilot; private ChatGPT; integrating AI through the FO’s main operating system.

17:20 AI Use Cases: project management, document handling, bill payments, investment research, presentations, and legal reviews.

18:05 Neil: Built an AI-powered research hub for investment insights and client queries. Focused on adoption through easy wins, with success measured by usage and reduced inquiries.

23:03 Amy: Automated alternative statements processing, saving time and improving efficiency in the spirit of "progress over perfection". Future plans: integrate AI into general ledger and streamline cash management.

28:17 Tim: Automated custodial statement processing with 96% accuracy, reducing time from 8 to 1.5 minutes per statement. Tackled challenges with capital account statements and focused on high-impact tasks.

33:16 Bill Payments: Amy’s team automated OCR-based bill payments, simplifying workflows and improving accuracy. 

36:46 Legal Reviews: Tim’s AI analyzed and summarized legal documents efficiently, indexing 500,000+ documents for better data access.

41:55 Project Management: Neil automated tagging and migration of documents into Box, linking them with Salesforce. Amy used Monday.com and Co-Pilot for CRM projects, meeting notes, and task summaries.

46:58 Change Management: Incremental adoption of AI recording/transcription tools in sensitive settings improved engagement and action tracking. Engage employees to design and adopt new roles with technology.

50:12 Benchmarks: Tim’s AI integrated external benchmark data with internal systems, automating repetitive monthly tasks.

Next Tech-NEW-logy programme, 19 December - Register here

Live seminars by FOTechHub in collaboration with the Larry Kraus Family Office Tech-NEW-logy Institute.In this episode, Shaun Parkin - Founder, Hall Road Investments - interviews:

Private Wealth Systems - offering financial reporting and data aggregation for family offices - represented by Charlie Brown, Director of Sales.

Arqa AI - providers of AI-based tools for investment management and risk assessment in family offices - represented by Haik Sahakyan, Co-Founder & CEO.

Episode page:⁠ Tech-NEW-logy Institute: Shaun Parkin Interviews Private Wealth Systems & Arqa AI | FOTechHub⁠

Join our virtual family office tech & ops annual conference, 19-20 November:⁠FOTechHub Second Annual Tech & Ops Conference (ringcentral.com)⁠

Show Summary:

00:00 – Introductions

04:16 – Sean’s opening remarks

05:55 – Haik & Arqa AI: focus on automating data entry and aggregation (capital calls, k1s, custodial statements, etc)

07:26 – Charlie & PWS: data consolidation, reconciliation and analytics

08:22 – Data challenges, complexities of onboarding tech, automating data handling, master investment book of record

12:06 – Data accuracy and efficiency, errors in custodial feeds

16:38 – Resource limitations in family offices, power users and outsourced back office

24:00 – Client feedback on ai tools: not just for data extraction but also portfolio rebalancing; document management

30:04 – Arqa and PWS in the ecosystem

Arqa: focus on investment and operational workflowsPWS: data management platform integrating with other systems

39:11 – Global client demand

47:58 – Pricing models and ranges

52:59 – Data security and privacy

58:19 – Closing remarks

Live seminars by FOTechHub in collaboration with the Larry Kraus Family Office Tech-NEW-logy Institute. In this episode, Shaun Parkin - Founder, Hall Road Investments - interviews: Private Wealth Systems - offering financial reporting and data aggregation for family offices - represented by Charlie Brown, Director of Sales. Arqa AI - providers of AI-based tools for investment management and risk assessment in family offices - represented by Haik Sahakyan, Co-Founder & CEO. Show Summary: Introductions. Sean's opening remarks. Haik & Arqa AI: focus on automating data entry and aggregation (capital calls, k1s, custodial statements, etc). Charlie & PWS: data consolidation, reconciliation and analytics. Data challenges, complexities of onboarding tech, automating data handling, master investment book of record. Data accuracy and efficiency, errors in custodial feeds. Resource limitations in family offices, power users and outsourced back office. Client feedback on ai tools: not just for data extraction but also portfolio rebalancing; document management. Arqa and PWS in the ecosystem: Arqa focuses on investment and operational workflows, PWS is a data management platform integrating with other systems. Global client demand. Pricing models and ranges. Data security and privacy. Closing remarks.