Eton Solutions Introduces AtlasFive® 2.0, the Next Phase of Family Office Transformation and Automation

AtlasFive 2.0®, a Comprehensive, Integrated Platform for Managing the Wealth and Business Affairs of Ultra High Net Worth Families, Defines the Technology Platform for the Family Office of the Future

Eton Solutions, developer of the cloud-based AtlasFive® technology platform for the Family Office of the Future, today announced AtlasFive 2.0, the next phase of family office transformation and automation. AtlasFive was built by a family office for the family office to enable new levels of process efficiency, data accuracy and accessibility, and risk reduction for ultra-high net worth family wealth management offices.

A purpose-built ERP system to manage the complexities of family offices, AtlasFive is the only comprehensive technology platform that seamlessly connects all data, services, and stakeholders within family offices. AtlasFive allows single and multi-family offices to adopt lean business practices, eliminate spreadsheets and manual work processes, and accurately report on activities in near real-time. AtlasFive also enables the virtual family office to provide access to data anywhere, anytime, freeing offices to concentrate more time and resources on delivering higher-value advisory services to families.

“Family offices are managing trillions of dollars of wealth, but today they lack the modern technology and process efficiencies of many industries of lesser value,” said Rob Mallernee, CEO and founder of Eton Solutions. “Only AtlasFive addresses the unique complexities of managing and reporting on the wealth and business affairs of ultra-high net worth families. It eliminates the need for multiple, disconnected point solutions, dramatically improves information security and disaster recovery, and creates a single, integrated source of truth for the family office. AtlasFive 2.0 continues to build on this platform for the Family Office of the Future.”

AtlasFive 2.0 builds on the previous generations of AtlasFive and incorporates a wide range of enhancements and functional innovations to improve family office efficiencies, process automation, and family member engagement. Examples include:

• A new client portal, providing family members a real-time window into their family office with secure, privacy-protected access to reporting, including day-to-day net worth reporting
• Next-generation transaction processing incorporating the latest AI and machine learning to allow the family office and family members to efficiently process and approve transactions and payments anywhere, in any time zone
• Enhanced accounting and investment reporting using a proprietary data model to enable flexible report generation to meet disparate client needs
• Information security and auditability of all family office data, including digitized information management, memorized transaction processing, and visibility restrictions across the family members
• Guided annual investment reviews for private trust companies within family offices to meet the requirements of Regulation 9

Founded in 2015, Eton Solutions was created to commercialize technology originally developed for a large multi-family office. Today AtlasFive 2.0 is used by some of the largest single-family and multi-family offices in the world, providing a highly scalable and secure cloud-based solution that integrates such services as general ledger accounting, investment performance management, fund accounting, tax reporting, capital commitment management, bill payment, and document management. Eton Solutions also provides a range of outsourced services delivered by highly qualified professionals, including CPAs and CFAs, trained in family office operations using AtlasFive 2.0.
 

The Family Office of the Future
Today, most family offices are mired in manual operations, using disconnected and rudimentary point solutions that require duplicate data entry. Office personnel use spreadsheets to reconcile, consolidate and aggregate data from these disparate systems. Reporting is frequently delayed by weeks or even months after a period close. Ad hoc reports requested by family members require many hours of additional work, and the data is error-prone. As a result, senior office personnel spend too much time on mundane tasks, such as aggregating and organising historical data, leaving little time for forward-looking analysis and advice to provide greater value to clients.

To move confidently into the future, family offices need a platform based on a single integrated source of data and a data model that uniquely accommodates the complex relationships of ownership within the family office, connecting all the legal entities, individuals, assets, liabilities, accounts, and transactions that make up the operational environment of the office. AtlasFive is built for the family office of the future. It enables rules-based data entry to provide timely, actionable information and analysis for decision making. The data can be sliced and diced however needed without ever leaving the system. In addition, the data is in the proper state to enable the use of advanced technology, such as artificial intelligence and natural language processing, to further automate workflows and decision making.

“Eton Solutions is committed to delivering the technology and services that family offices and their clients need to move confidently into the future,” said Mallernee. “AtlasFive dramatically increases operating leverage and profitability, while giving family members far greater transparency and control over office activities and information.”