Do you have an overview of your assets?

Bank statements flutter into your house all the time: debit and credit advices, transaction vouchers, income statements and then the regular account and custody account statements. Even though it is now possible for most banks to receive this flood of paper – which is also non-ecological – electronically, it still takes a great deal of time to carefully check all these documents.

Now you not only have one bank account, but several, and in addition, you also have assets that cannot be booked in a classic custody account, such as your private equity investments, your gold coins in the safe and your investment property. Do you always have an overview of your entire assets?

The value of a consolidation is that you save a lot of time on the one hand by not always having to check all documents and on the other hand, by obtaining a clear and summarized report of all bankable and non-bankable assets at any time. Another positive side effect is that when preparing your tax return, you can always check whether all assets have really been recorded.

In order to be able to create a meaningful consolidation, FINAD keeps shadow accounting of all transactions, which means that not only can the assets be shown as of a certain date, but also that all costs, income and performance can be presented transparently. Our experience shows that costs, in particular, are often not taken into account enough in the overall picture, which means that savings potential is always being discovered. By storing the data, it is also possible to preserve the history of a portfolio or investment, should the portfolio be closed or postponed or should an investment be terminated.

In addition, a holistic overview allows all other debits and credits to be monitored in addition to income and costs. This helps when creating a budget and monitoring it. It is also possible to analyse whether diversification across, for example, the various asset classes, currencies, countries, sectors and issuers is available as desired in order to avoid cluster risks. These issues are important for defining and monitoring the overall strategic direction.

Furthermore, it does not necessarily mean that only total assets can be presented in summary form. Consolidation groups can also be used to compare and contrast different managers. In addition, groups can be created per family member, per company or per individually defined consolidation group, thus enabling customized analyses.

Finad can help you to keep track of your assets at all times. Customized consolidations, which are drawn up together with you, allow you to display, analyse and monitor all the information that is important to you. This saves a lot of time, allows you to monitor all parties involved (such as banks, asset managers, other providers), allows you to define and review the strategic direction, helps you with budgeting and deal with tax authorities.