For wealthy Americans, the one thing that can be more complicated than family relationships is family finance. Significant success is rarely easy to organize. Today family members live all across the globe, and they struggle to obtain a singular clear view of their investments, real estate, trusts, art, debts, charities, and financial commitments.

At the same time, they also must contend with the outside chorus of the family’s attorneys, accountants, bankers, consultants, and financial advisers – sometimes in sync, but often with conflicting voices. 

In recent years, we at the Alvarez & Marsal Private Client Services Team have received increasing numbers of requests from high net-worth clients to help bring order to the management of their family assets. They want to see everything they own in one place, with easy access, smooth communications, potent analytics – and ultimate data security and confidentiality.

As a result, our Family Office Services practice has turned to Masttro, a powerful software platform that has become the leading wealth solution for ultra-high net worth family offices. With secure links to more than 500 asset custodians, Masttro manages the world’s largest network of direct connections to financial institutions. 

For A&M clients, the result is a personal financial gateway that operates with the discretion and safety of a Swiss bank, but the convenience of your iPhone. It’s one of the many powerful tools that our expert team employs to tailor unique solutions to the complicated issues faced by family offices.

We know the finances and goals of every family are different, so we don’t use one-size-fits-all sledgehammers to pound your situation to fit into some generic model. In contrast to other consultancies, our experts have led family offices and family businesses. We’ve experienced the challenges of mixing family and money. We are thought leaders who understand the dynamics, both personal and financial, of high-level success. We know the unrivalled value of listening over lecturing.

Our Masttro tool lets you control who sees what family financial information and when. You may want full transparency for all family members, or just some. You may want one banker managing one set of assets without seeing how another banker is handling other assets. You may want your tax people to know what your investment people and your legal people are considering. 

And you may want up-to-date valuations of not only your stocks and bonds, but also your closely held assets, your vacation homes, your collectibles, and your paintings and sculptures.

If you want different levels of transparency for different family generations, you can have it. You also can set this up so that the whole family sees when taxes are due, profits are realized, and distributions are delivered. 

All data is encrypted in transit and at rest – Masttro clients get their own encryption keys, prohibiting Masttro from viewing, accessing, or changing data. Security is enhanced through Masttro’s unrivaled network of direct links to so many global financial institutions. As a result, Masttro does not use screen scraping of IDs and passwords, a safeguard that further protects data quality and security. 

With one place to manage the full balance sheet, clients get a full and accurate picture of their financial health during increasingly volatile times. There are real-time views of total net worth at every level of the balance sheet – any currency, maintained in any jurisdiction, with accurately updated values on all financial assets, real estate, debt, collectibles, and other holdings. 

For clients who want their own research, Mastrro offers user-friendly interactive dashboards, data visualizations, dynamic tables and charts, advanced filtering, and a self-service library of hundreds of reports. Clients can answer just about any question about their wealth in a few clicks. 

One other plus is the educational value of Masttro. The platform can teach younger generations about family leadership while preparing them for the coming responsibilities of inheritance. Masttro can be set up to show beneficiaries where they stand with all family trusts, foundations, and partnerships.

With far-flung modern families, it’s never easy to get everyone on the same page. This is a straightforward and painless way to do it. 

For more information on how we used Masttro to streamline one family’s life, click here.