Summary
Plan
Elevate Advisory cleaned data, audited ownership, redesigned reports & trained team for accurate Addepar reporting on bonds, alts & performance.
Challenges
- Data Trust Issues: Inaccurate reports due to poor data hygiene.
- Complex Ownership: Multi-entity structure with historical discrepancies.
- Alternative Assets: Inconsistent reporting from external fund managers.
Results
- Restored Trust: Reliable Addepar reporting reinstated.
- Accurate Metrics: Correct TWR, MOC, and entity-level performance.
- Efficient Operations: Client team empowered to maintain data independently.
Background
After experiencing dissatisfaction with their previous service provider, this Small Family Office approached us seeking help with their biggest concern – lack of trust in the reports and data from their Addepar Instance. Lack of proper data sanitation and hygiene meant that significant inaccuracies were creeping in with their reports for bonds, alternative assets and overall performance metrics.
Client Challenge:
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Data Trust Issues: The family office could not trust the reports generated from their Addepar instance due to poor data sanitation practices.
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Inaccurate Reporting: Reports for bonds, alternative assets, and performance metrics like Time-Weighted Return (TWR) and Multiple of Capital (MOC) were inaccurate.
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Complex Ownership Structure: The family office had a complex ownership structure that included both the family’s wealth and that of the family office itself.
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Historical Data Issues: The ownership structure going back seven to eight years was complex and required thorough auditing.
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Alternative Asset Management: Variability in reports from different alternative asset fund managers required a flexible system.
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Lack of Expertise: The previous provider struggled to address issues arising from bank statements and alternative investments.
Elevate Advisory took a comprehensive approach to resolve these issues and restore the client’s confidence in their Addepar instance.
Data Sanitation
Regular processes to ensure clean, accurate data and correction of discrepancies.
Ownership Audit
Mapped and backfilled complex ownership structures for accurate reporting.
Specialized Reporting
Redesigned templates for clear and accurate bond and alt asset performance reports.
Alt Asset Management
Audited alt positions, implemented flexible attributes for consistent reporting.
Issue Resolution
Fixed investment issues and trained the client’s team for self-reliance.
Results:
Restored Trust
Accurate Metrics
Ownership Structure Managed
Reliable Alternative Reporting
Improved Efficiency
Enhanced Transparency
Conclusion:
Elevate Advisory’s intervention significantly improved the accuracy and reliability of the family office’s Addepar instance. Our expertise in data sanitation, specialized reporting, managing complex ownership structures, and handling alternative assets enabled the client to regain trust in their financial data and improve their overall operational efficiency.
If you are a family office facing similar challenges with your Addepar instance, Elevate Advisory can help you achieve accurate and reliable reporting, ensuring you have the confidence to make informed decisions.
