UNVEILING A NEXT-GEN WEALTH MANAGEMENT SOLUTION WITH TRANSFORMATIVE PERFORMANCE REPORTING

Wealth Management Systems

A wealth management system is an approach to managing an individual's financial well-being, integrating financial planning, investment management, tax planning, estate planning, and other services. The primary aim is to optimize financial solutions and help clients achieve long-term goals. Wealth managers assess current financial positions, allocate assets, manage risks, minimize tax liabilities, and plan for retirement. These services, often provided by financial institutions or dedicated firms, are tailored to individual needs, providing personalized advice to adapt strategies as the client's financial situation evolves.

After-tax performance reports are financial statements that provide information on a portfolio's investment returns or investment strategy after accounting for taxes. These reports give investors a more accurate representation of the actual returns they have earned on their investments, considering the impact of taxes on investment gains.

The Approach

This project aimed to build a system to evaluate the total asset and liability gain of investments. We designed the wealth management system to manage all long-term gains, short-term gains, realized and not-realized gains, and losses. We retrieved all information from the Addepar and worked with data from it. We established the customer data and did the calculations. We designed the Balance sheet and profit and Loss statement based on the data from Addepar. We created a web application to capture the data from Addepar API.

We had to show the data after-tax submission and suggestions based on historical data from Addepar. We designed the report on three levels: Customer Level, Manager Level, and Trust Level.

To delve into intricate financial landscapes and redefine wealth management, system encompasses key data and considerations including:

• Estate Taxation

  • Federal Estate Taxes

  • State Death Taxes

  • Income Tax Carryforwards

  • Charitable Gifts Carry Forwards

• Estimated Investment Portfolio Fees

  • Exchange Traded Funds & Mutual Funds

  • Separate Account Managers

  • Hedge Fund & Private Equity Limited Partnerships

  • Direct Real Estate

  • Collectibles

  • Advisory / Consulting Fees

• Dollar Goals-Based Analysis

  • Personal

  • Beneficiaries

  • Charitable

  • Government

The software is unique relative to others in the industry, focusing on after-tax dollar returns vs. an investable benchmark solution (such as an index fund or index ETF) and a projection benchmark. The software creates several calculations manually entered into Addepar's engine to allow Addepar to produce some industry-unique "after-tax" percentage returns.