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August 20, 2019

PCR, Private Wealth Systems collaborate to enhance UHNW services

Private Client Resources (PCR) has teamed up with Private Wealth Systems to strengthen UHNW services for family offices, private banks, and asset managers.

The alliance will leverage the expertise of both firms.

Under the partnership, global data aggregation services of PCR will be integrated with the portfolio accounting and investment reporting platform of Private Wealth Systems.

Private Wealth Systems CEO Craig Pearson said: “Leveraging PCR’s capabilities will free our team to focus on our core accounting, analytics and reporting capabilities – rather than creating data feeds and processing statements.

“As we expand our work with global private banks and family offices one of the most important criteria in selecting PCR was their ability to support the strict privacy regulations for both the U.S. and EMEA to ensure the highest level of protection of our clients’ data.”

PCR’s aggregation service incorporates digital consent technology, electronic aggregation from more than 20,000 sources, expanded direct custodial connections, and connectivity to PCR’s Digital Hub, among others.

Private Wealth Systems’ investment reporting platform includes a range of services such as general ledger investment accounting, performance calculation, and portfolio management.

PCR CEO Bob Miller said: “Over the course of developing our partnership we came to appreciate the company’s pedigree in the UHNW space, their innovative data model, and their unique approach to solving a very important problem for those who manage complex wealth.”

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