- Software consulting
- Advanced technology consulting: AI/ML, big data, blockchain
- Digital transformation consulting for family offices
- IT infrastructure consulting, including cloud consulting
- QA consulting
- Project management consulting
- Software product consulting, including SaaS consulting, for companies developing commercial family office software products
IT Services and Solutions for Family Offices
In financial IT since 2005, ScienceSoft provides full-cycle technology consulting, software engineering, and support services to family offices. We create secure and compliant solutions that help family offices improve service efficiency, increase the accuracy of wealth planning, and deliver top-notch experiences for ultra-high-net-worth (UHNW) families while keeping IT costs under control.
Custom Software Solutions for Family Offices
ScienceSoft engineers multi-functional systems covering the whole spectrum of private wealth management processes, as well as specialized solutions that automate particular operational areas. Here are some of the family office solutions we deliver:
Core private wealth management solutions
Financial planning and analysis software
Software that automates financial modeling and long-term outcome assessment across tailored cash flow, estate, investment, ownership transfer, and tax scenarios. Family officers can also model the impact of regulatory and market events.
Software used to automatically aggregate wealth data across multiple custodians, reconcile holdings, and evaluate the performance of UHNWs’ complex asset structures. It can provide analytics-supported deal sourcing and portfolio optimization.
Private banking management solutions
Software aimed to automate the servicing of UHNWs’ banking relationships, including transaction monitoring, cash reconciliation, and document management across domestic and foreign bank accounts.
Investment management software
Solutions meant to automate investment research, deal due diligence workflows, order management, and investment performance analytics. They are used by family offices responsible for UHNWs’ investment activities.
Succession management solutions
Software that automates cross-generation inheritance modeling, succession strategy planning, and transfer of wealth (private property, business assets, etc.). It can support automated trust governance.
Philanthropy management tools
Solutions that support data-driven search of compliant and tax-efficient philanthropic opportunities. They automate donation scheduling, charitable fund distribution and tracking, and impact reporting.
Tax management software
Software used to consolidate tax-relevant wealth data, automate calculations for estimated liabilities, generate regulatory-ready tax filings, and identify opportunities for tax optimization across jurisdictions.
Fund management software
Solutions that automate asset performance tracking and fund accounting for family offices managing UHNWs’ pooled alternative investments and fund structures (e.g., private equity or venture capital funds).
Real estate management solutions
Software that offers automated rental income forecasting, lease tracking, property-level accounting, and maintenance scheduling for family offices administering UHNWs’ residential and commercial real estate.
Lifestyle management tools
Solutions meant to automate the handling of UHNW clients’ personal affairs, such as planning travel logistics, scheduling events, managing art collections, hiring domestic staff, and organizing personal security.
A centralized digital workspace to manage interactions with UHNW families, process and store wealth management documents, and track family financial goals, deal flows, portfolio performance, and service fees.
Software that automates the creation and distribution of client reports (consolidated cash flow reports, portfolio performance snapshots, asset transfer plans, fee summaries, region-compliant tax forms, etc.).
Wealth data management tools
Solutions that automate the aggregation, orchestration, quality assurance, enrichment, and maintenance of disparate data relevant to private wealth management activities.
Data analytics systems
Solutions that let family offices automate the calculation, forecasting, and reporting of chosen metrics across sales, finance, client experience, and risk management areas.
Data security solutions
Specialized tools that automate wealth data encryption, access control, user behavior analytics, and suspicious activity detection to protect sensitive financial and personal information managed by family offices.
Compliance management solutions
Software used for real-time monitoring of the wealth operations’ compliance with the family office’s internal policies and required legal frameworks, including local regulations (e.g., SEC for the US, SAMA for the KSA).
AI-native automation solutions
According to the 2024 Family Office Software & Technology research by Simple, 100% of the US family offices either currently use artificial intelligence (AI) or plan to use it soon. With decades of experience in implementing AI for investments, ScienceSoft helps family offices engineer secure AI solutions that enable intelligent analytics beyond simple email drafting.
AI-powered financial analytics systems
Solutions that apply advanced machine learning (ML) algorithms for high-precision diagnostic and predictive analytics. They can include intelligent prescriptive analytics for AI-assisted wealth planning and optimization.
LLM-supported financial research tools
Solutions that leverage large language models (LLMs) to capture massive volumes of financial data, retrieve and summarize insights relevant to the user’s query, and present them in a requested report format.
Intelligent document processing solutions
Software that relies on intelligent image analysis and robotic process automation (RPA) to automatically extract, reconcile, and structure data from multi-format wealth management documents.
Generative AI assistants
Smart chatbots that can instantly process textual and voice inquiries of the family office professionals and communicate the requested information in regular human language.
IT Services for Family Offices
Technology and business consulting
Software engineering
- Full-cycle engineering of wealth management solutions for family offices
- Architecture design for complex family office solutions
- Proof of concept and MVP delivery
- Software integration
- Testing and QA for solutions under development
- UX and UI design for family office apps
- DevOps services for ongoing development projects
- Team augmentation (with software engineers, architects, testers, consultants, PMs, etc.)
Software modernization
- Cloud migration services
- Software rearchitecting (e.g., monolith strangling to microservices)
- Code review and refactoring
- Tech stack modernization
- Software evolution with new features
- Software integration
Managed IT services
Security and compliance services
- Cybersecurity consulting
- IT security audit
- Security testing
- Establishing application security and network protection: implementing SIEM, IAM, UEBA, firewalls, and more
- Compliance consulting: NYDFS, GDPR, SEC compliance, and more
- Compliance assessment
- Managed security services