The why, what and how of InvestCloud’s 1-2-3 approach to converting your accounting system.
Nobody stays with their legacy accounting system because they like it.They stay because they’re made to believe that it’s difficult and expensive to change.
Accounting, we have a problem
As anyone in our industry will attest, there is a category-wide reliance on outmoded, antiquated accounting systems. These traditional portfolio accounting systems were built in the prior century and – not surprisingly – they’re showing their age. Today’s financial advisors are faced with pressure to offer new products and services that require multi-currency, UMA/SMA strategies, Trust and Advisory practices, mutual fund products, alternatives such as hedge funds, fund of funds or PE funds.
Complexities that these legacy systems weren’t built to contend with.
