Family Office Technology Hub Family Office Tech Stack: Financial Reporting, Data Aggregation, and AI-Driven Investment Tools
10 snips
Sep 11, 2024 Shaun Parkin, founder of Hall Road Investments, hosts a lively discussion with Charlie Brown from Private Wealth Systems and Haik Sahakyan from Arqa AI. They delve into the fascinating world of family office technology, highlighting the challenges of data integration and the innovative use of AI to automate reporting processes. You'll learn about the importance of data accuracy, the role of advanced analytics in decision-making, and how evolving tools are reshaping investment management. Their insights offer a glimpse into the future of wealth tech!
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Custodial Feed Errors
- Charlie Brown recounts correcting $400-$600 million in bank data feed errors last year.
- This highlights the significant error rate in custodial feeds, impacting data accuracy.
NVIDIA Stock Split Example
- Charlie Brown mentions NVIDIA's 10-for-1 stock split causing data issues due to duplicated corporate actions by banks.
- Private Wealth Systems' master investment book of record had the correct data, preventing client issues.
Evolving AI Applications
- Clients discover unexpected AI applications like using tax documents and custodial statements.
- AI is evolving beyond initial expectations, opening up possibilities.