Partnership will Provide UHNW Advisors and Families Actionable Insights by Combining Great Data with Great Tools.
Private Client Resources (PCR) and Private Wealth Systems today announced a new partnership that integrates PCR’s global data aggregation services with Private Wealth Systems portfolio accounting and investment reporting platform for family offices, private banks, and global asset managers.
“We are excited to partner with Private Wealth Systems to help drive their expansion throughout the Americas and EMEA. Over the course of developing our partnership we came to appreciate the company’s pedigree in the UHNW space, their innovative data model, and their unique approach to solving a very important problem for those who manage complex wealth,”
said Bob Miller, CEO of PCR.
The partnership combines the very best of PCR’s electronic aggregation offering including; digital consent technology, electronic aggregation from over 20,000 sources for private equity, alternative investments, and physical statements, expanded direct custodial connections, utilization of PCR’s API framework and connectivity to PCR’s Digital Hub (client data warehouse), with the best of Private Wealth Systems’ consolidated investment reporting platform including; general ledger investment accounting, performance calculation, portfolio management, investment reporting, and client portal supporting the most complex balance sheets across every asset class, currency, and ownership structure
“Over the past twenty years we have long respected PCR’s business serving family offices and private banks around the world. Their system has proven to generate operational efficiencies in capturing data from multiple sources, especially physical statements and private investments. Leveraging PCR’s capabilities will free our team to focus on our core accounting, analytics and reporting capabilities – rather than creating data feeds and processing statements”, said Craig Pearson, CEO of Private Wealth Systems.
“As we expand our work with global private banks and family offices one of the most important criteria in selecting PCR was their ability to support the strict privacy regulations for both the U.S. and EMEA to ensure the highest level of protection of our clients’ data. PCR has demonstrated it is far ahead in its privacy approach and technology”, added Craig Pearson.
PCR and Private Wealth Systems share a commitment to solve the industry’s structural challenges of data, scale, and security across global wealth. Both firms have recently announced international expansion initiatives in Europe and the partnership will accelerate the availability of their services in the region.