Getting ready to onboard.
Determine who the primary contact is.
We will need a full name, email and phone number.
Capture additional users and their level of access.
We will need the information mentioned above for additional users. Consider what level of access they should have (admin, reviewer, by entity, etc.) You can always add or remove users later.
Come up with a name for your office.
All other Entities will roll into your office name and will be permanent. Most people use the name of their family office or their surname. Eg. “The Hammond Family” or “Hammond Family Office.”
Break down your assets.
Our current asset classes are:
- Angel & Direct
- Art & Collectables
- Cash & Equivalents
- Commodities
- Crypto & Digital
- Fixed Income & Debt (Direct)
- Fixed Income & Debt (Funds)
- Hedge Funds
- Operating Companies
- Private Equity Funds
- Private Credit
- Real Estate (Direct)
- Real Estate (Funds)
- Venture Capital Funds
- Other
You should also have a list of liquid assets ready to ingest into the system. Bonus points if we have transactional data (inception date, capital call summaries, etc.) We can flesh out the transaction history over time, but having a baseline is helpful.
Lastly, consider how you want to “tag” your assets. We use tagging to get deeper granularity. Tags can be anything you want but often include region, strategy, or sector.
Identify managers are and what assets they control.
They can be individual managers you work with closely or firms that handle certain aspects of your portfolio.
Contemplate your entity map.
We aim to understand which Assets live where and how you structure your investment world. Once we flesh out the entity map, you'll associate Accounts and Assets/Holdings with Entities. Entities can be people, trusts, operating companies, etc. They represent ownership and relationship.
A typical entity map looks like this:
List your primary institutions and accounts.
Who do you bank with? Do they support open banking? Do you have an online portal that allows for exporting data? Collect a list of the institutions you use for liquid and illiquid assets.
Think about the documents you receive and where they come from.
The details of an Asset, including historical performance (and the resulting performance metrics), often rely on processing information from documents. The more records you have, the more extensive and accurate we can be. Collect a list of all your portals and document sources.