Case Study for a Family Office (identity protected to maintain confidentiality)

Operating since the 1950s, this family office was formed initially from the bookkeeping and management team of a large family-owned trading company, after flotation (and eventual sale), the back office function was retained. They carried on providing information for the family members of the company and they also, unusually, created a separate offshore office. Several years and a few generations later, this modern family office provides a range of services to now fairly disparate family members.

Brief:

To provide a core computer system including:

  • Compliance and ‘Know Your Client’ systems.
  • Customer relationship management software.
  • Bookkeeping and bank account management systems, including payments receipts, statements and grouped client interest calculations.
  • Trust accounting and administration, including flexible fund accounting and the ability to produce consolidated accounts across funds as well as individually in flexible formats with full foreign currency facilities.
  • Full investment management facilities including recording and reporting on investment performance, bulk dealing, contract note production, importing of price files, production of valuations and processing of corporate actions.

Product:
Troika for Family Offices & Private Wealth

A dynamic conversion process was used to transfer data from the legacy system. This meant that parallel running was available for as long as required for training and data checking. Once signed off, transfer was instant and processing began immediately with no down time. Installation overheads were minimal because all the users were involved and the system was designed to fulfil their specific requirements.

Clients Comments:

Troika is the core system for all our employees’ everyday work. The accounts department uses it, the investment team, management, everyone. We’ve worked with Troika since it was first developed and as our business changes, it’s good to know that we have a system that continues to move forward with us.”
Systems Manager, A Family Office

(There are currently five family offices using Troika.)