Family Office Group Warns on IT

Stephen Harris

19 March 2007

Chicago-based Family Office Exchange has published a technology market study to help family offices make informed decisions to upgrade their information systems. Information technology in most family offices doesn't keep up with data aggregation requirements, demand for customised reports and growing numbers of sophisticated investment vehicles, according to the study, The Great Leap Forward: Making Effective Technology Decisions. "Many offices have reached their maximum capacity," said John Benevides, president of FOX, in a statement. "They lack adequate tools to oversee an expanding array of investments for a growing family or are utilising inadequate tools to provide the integrated reporting necessary for guiding strategic decisions. The paradox of the office: working at full capacity yet operating sub-optimally."