Situation
An established family office serving a multi-generational family with assets of $150M and investments across different geographies was thinly staffed and needed a flexible range of services to facilitate their accounting and reporting process.
Solution
- JMI team worked closely with the family office and external advisor to gather all the transaction data of the investment vehicle and was frequently involved in bookkeeping for the accounting process
- Coordinated with the management of portfolio companies to get a comprehensive set of valuation reports across all its investments quarterly
- JMI consolidated partnership and portfolio accounting through one general ledger for an integrated financial picture while offering the flexibility to provide reports by individual entity, asset, investment, geography and other parameters
- Assisted the Client in NAV calculation quarterly for accounting and reporting to their regulatory authority
Outcome
- Generated a clear and comprehensive set of financial reports across all its investment for reporting
- Alleviated the administrative and time burden of accounting, reporting and coordinating multiple external advisors
- Improved employee satisfaction by refocusing responsibilities on value-added services