The Altoo Wealth Management Platform is designed to meet the specific demands of ultra-high-net-worth families and their single family offices.
Our revolutionary technology enables the family to have modern access and data to better understand their wealth and safeguard it for future generations.
It also provides a clearer picture of the family’s accumulated wealth, making interactions more convenient for everyone involved.
Altoo has been named among Forbes’ top providers of Family Office Management software for three years running. Rooted in the Swiss-banking tradition, our company does the heavy lifting for single-family offices when it comes to wealth data consolidation and management, freeing up resources and helping single-family offices make strategic decisions based on real-time reporting.
From experience, we understand that ultra-high-net-worth families own a wide array of valuable assets. To address this, we offer a range of data aggregation solutions so that the dedicated family office can benefit from a single source of data. The result translates into managing wealth data more efficiently and accurately.
Working with family office clients in Switzerland and abroad, Altoo has seen first-hand the reasons for using partnership structures and has developed solutions to the challenges they present. Our Collaboration tool allows you to create a closed user ecosystem to securely share messages and documents within your network. Furthermore, the single family office can gradually involve further family members on the platform and prepare a smooth transition of assets if needed.
Built for the convenience of a Single Family Office and ease of use, our mobile app provides access to the chosen parts of wealth, secure communication with your network and investment monitoring alerts.
In addition to the tangible benefits (such as centralisation of the family office’s overall financial position, reduction of inaccurate manual processes and automated reporting capabilities), our clients tell us that they value the peace of mind that comes from working with us. Our approach is proactive and personal. Every client relationship has a dedicated Curator to help you make the most of our technology solutions.
As with any organisation, there is a demand for greater transparency and an increasing expectation for better real-time data to enable faster decision making. Meeting the need for improved reporting requires significant resources, and single family offices are discovering that new technology can help free up their staff to focus on activities that deliver long-term strategy.
The cost and difficulty of integrating wealth management technologies has traditionally made family offices reluctant to invest in technology. With Altoo, the family office can now easily and safely consolidate all the assets it manages at any time and from anywhere. This lets it build better relationships with its clients.
When you choose our platform, you get five distinctive advantages over other solutions.
Collaboration: The platform provides the capability to share access with stakeholders who work for wealth owners. This can improve collaboration, transparency, and efficiency.
Security: The platform uses advanced security measures to protect the sensitive financial data of our clients.
Ease of use: The platform focuses on providing a user-friendly interface that makes it easy for our clients to manage and understand their assets.
Insights and Analysis: We provide tools for analysis and insights that can help our clients make informed decisions about their investments.
Our company is complementary to such businesses. We are helping them to work closely with their clients in a more transparent and trusting relationship which both parties find beneficial.
Our clients are looking for a wealth technology solution that consolidates all managed portfolios and delivers innovative client services. They are also advanced and intuitive client-facing technology for improved reporting and communication.
What Altoo will deliver is Simplicity for Complex Wealth in the form of:
The Altoo Wealth Management Platform has been designed to overcome this challenge to help improve decision-making by providing an intuitive digital overview of one’s wealth. Using a range of technology tools, Altoo goes beyond merely aggregating and reporting data, instead offering a unique digital family office experience single and multi family offices.
The platform enables you to look at your wealth from different angles and manage your lifestyle and your investments by always having a clear view of your wealth. From a cost perspective, Altoo does not consider the size of the client in terms of net worth, but rather the number of banking relationships it has. The software comes with a yearly license fee, which can vary depending on the modules selected.
The phrase, like others in the financial and capital markets, is derived from the English language and refers to the financial administration of a wealthy family.
Single Family offices or Multi Family Offices (a group of wealthy families) are not strictly speaking asset managers because the private family office is wholly under the authority of the family , as opposed to asset management supplied by a third party such as a bank. In language usage, a clear difference between the separate words Single Family Office and Multi Family Office is not usually made.
The Swiss Financial Market Supervisory Authority grants a Family Office characteristics such as “bank independence,” “asset manager supervision,” and “controlling.”
The origins of many family offices may be traced back to professional asset management, although on a lesser scale and within certain industries. Smaller private capital management firms eventually grew into larger ones when new duties and funding became available.
Examples of prominent and early models of such family asset management include the House of Morgan, founded in 1838 (from which emerged the founders of JP Morgan, today the largest bank in the USA with a balance sheet totaling $2.6 trillion) and the Rockefeller family office, founded in 1882 (also in the USA) and growing to immeasurable size due to the oil boom of the time. The original Rockefellers arrived in the New World from Germany in the early 18th century.
Once an outside specialist is hired as a “family officer,” the office can be considered “professional.” Prior to this time, the commissioning family must determine which guidelines and principles will be used to manage the assets (e.g., asset preservation or income targets? ); what expense ratio will be applied to wealth management; what role and influence the family members will have in this wealth management; to what extent the family’s private assets will be managed (partially, fully, excluding certain assets? ); and what the family’s long-term goals are for this wealth management.
Clients have greater authority over the assets to be handled due to their position within the commissioning family. At the same time, there are no conflicts of interest in investing, as there may be with asset management by a bank, for example.
Unlike many other investing arrangements, there are no hidden fees and the final expenses are generally lower. At the same time, asset management is more efficient in general and may be planned more individually.
They relieve the commissioning family of a wide range of complicated chores, may play a deeply meaningful and identity-giving role in the family history via their work, and provide the family a high degree of professionalism in dealing with financial and development plan concerns.
The primary purpose of a family office is often asset preservation. This may sound cautious, but in the current financial market environment, it entails sufficient difficulties: because there is little interest on borrowed money, i.e. the bond market does not adequately fulfil the function of asset preservation for conservative investment strategies, every asset management company faces the same problem – inflation automatically ensures a decrease in the market value of the entrusted assets.
The Global Family Office Report 2023 conducted by the Swiss Bank UBS claims that the majority of American family offices (76%) are established so that money can be passed down through the generations. While 63% of families have a strategy in place to pass on their wealth to the next generation, just 38% have done the same for the family office as a whole. Allocations to real estate (21% of total investments) and hedge funds (10%) were above average compared to their international counterparts. Family offices in the United States are the least conservative in the world, allocating only 7% of their assets to cash.
In Europe, one in ten European family offices put money into real estate, and another 30% say they’ll do so within the next five years. Ninety-four percent do their own strategic asset allocation, and 75 percent believe that illiquidity improves returns. Following closely after digital transformation (79%) is automation and robotics (75%).
The Global Family Office Report 2023 also found that seventy-three percent of family offices in Switzerland were established to aid in the transmission of wealth from one generation to the next. Only 35% of family offices have a comprehensive succession plan in place, despite 43% who have a wealth succession plan in place for family members. They have a lower allocation to hedge funds (4%) and a higher allocation to real estate (18%), cash (13%), and art & antiques (4%).
The origins of many family offices may be traced back to professional asset management, although on a lesser scale and within certain industries. Smaller private capital management firms eventually grew into larger ones when new duties and funding became available.
Examples of prominent and early models of such family asset management include the House of Morgan, founded in 1838 (from which emerged the founders of JP Morgan, today the largest bank in the USA with a balance sheet totaling $2.6 trillion) and the Rockefeller family office, founded in 1882 (also in the USA) and growing to immeasurable size due to the oil boom of the time. The original Rockefellers arrived in the New World from Germany in the early 18th century.
Once an outside specialist is hired as a “family officer,” the office can be considered “professional.” Prior to this time, the commissioning family must determine which guidelines and principles will be used to manage the assets (e.g., asset preservation or income targets? ); what expense ratio will be applied to wealth management; what role and influence the family members will have in this wealth management; to what extent the family’s private assets will be managed (partially, fully, excluding certain assets? ); and what the family’s long-term goals are for this wealth management.
Clients have greater authority over the assets to be handled due to their position within the commissioning family. At the same time, there are no conflicts of interest in investing, as there may be with asset management by a bank, for example.
Unlike many other investing arrangements, there are no hidden fees and the final expenses are generally lower. At the same time, asset management is more efficient in general and may be planned more individually.
They relieve the commissioning family of a wide range of complicated chores, may play a deeply meaningful and identity-giving role in the family history via their work, and provide the family a high degree of professionalism in dealing with financial and development plan concerns.
Investment topics like real estate and private equity, liquid topics like equity wealth management, and very important personal topics like business succession, inheritance, impact investing, and the broad areas of lifestyle and well-being are all things that family offices and high-net-worth individuals exchange information about in different ways around the world.
Most of these communities are closed, and there is a wide spectrum of exclusivity even within members of this unique scene. In addition, the network’s characteristics play a role. Family office meetings are often business-focused and often feature sponsors, product suppliers, specialists, and presenters from a wide range of businesses. Those in charge of the event benefit from it since they get to host the community’s events on a professionally run website.
It’s no longer common for pure families or single family offices (SFO) to hire multi family officers (MFO) or investment managers (IM). Individuals often prefer to carry on talks one-on-one. One such event is, for example, the St. Gallen Family Office Forum.
Family office gatherings and the like are widespread anywhere there are a large number of ultra high net worth individuals (UHNWI). Frequently in Dubai, the United Kingdom, the United States, Singapore, or Switzerland, seldom in Germany.
To primarily assist clients in Germany, Austria, and Switzerland, Skyland Wealth is a German-speaking UHNWI and Family Office Network. A good example of a typical UHNWI network is 21 Tiger which has over 800 members engaging mostly in business transactions on the American market.
Press materials and events for the Affluent and Their Families.
Expertly, these periodicals cover relevant topics like high net worth individuals, lifestyle management, family governance, family businesses, and special lists of the multi generational affluent families through their coverage of related events, rankings, and special reports.
To name a few, the Financial Times has participated in English events like the Wealth Forums, which are similar to family office structure gatherings.
Wir-Magazin is also well-known for the many activities it offers for SFOs and their families.
Fortune and Forbes are well-known magazines because of their profiles of successful businesses and risk management research.
The “Unternehmerfamilien im Dialog” is a conference for business families hosted by the Heuer Dialogue and the Immobilien Zeitung.
The Single Family Officer is the preeminent counsellor and manager of huge estates. This individual has considerable authority and is close to the headmaster and his family, serving as a “sparring partner” in the protection and growth of the assets. Also, this person frequently has a smaller crew behind them, with little more than four individuals on average.
Large SFOs of wealthy families can have 200-300 staff at times. These are therefore referred to as “institutionalised,” implying that they already have their own established structures, courses of action, and fixed specialists for all matters ranging from property administration to financial management or family meetings. On a daily basis, the family is no longer present in wealth management decisions everywhere.
“Embedded SFOs” are special features of SFOs. These are, in a sense, “embedded” in the group’s daily life. In this case, there is an active entrepreneurial family that has not established a separate legal entity, such as a GmbH (limited liability company), for the family office and has bundled the competencies here, but instead, e.g. the CFO or the owner’s right-hand man in the group takes on the task of the family office and the private assets simultaneously. This is a more frequent form than one may imagine.Overall, access to the SFO is nearly flawless; you are only one step away from the headmaster, who generally sits at the table when good chances emerge. In the Middle Ages, the sole family officer was known as the “chancellor,” and he was in charge of day-to-day operations alongside the monarch.
When the history and assets of the owner family grow complicated, the traditional MFO becomes relevant. In the realm of business, one encounters various forms of ownership, such as real estate ownership, share ownership, and business ownership. It is not uncommon for individuals to maintain an active primary business, which serves as a steady source of income. However, it is crucial to address and resolve any ongoing issues that may arise in this domain. Many wealthy individuals choose to move to an MFO to simplify their lives, and take advantage of synergies rather than an SFO. Traditional MFOs typically care for little more than 30 households. For instance, if hundreds of families need to be catered, we are no longer talking about an MFO but rather a bank. Authentic multi-family offices provide their clients with a team of specialists dedicated solely to their requirements, which is a strong indicator of a professionally managed multi-family office.
Multi Family office consultants gain a unique understanding of the structures that define wealth separation and succession plans, as well as insight into the dynamics and politics of family relationships, through the formation of long-term, trusting relationships with family members. Along with the family’s values, vision, mission, and objectives, this inherent knowledge guides all operational and investment decisions.
The Altoo Platform aggregates wealth data from multiple sources to deliver comprehensive wealth analysis, performance and reporting. It is a modern and sophisticated, highly secure, SaaS platform, 100% Swiss developed and hosted.
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