Consolidated Reporting
Consolidated reporting is the practice of aggregating a family's financial positions across all custodians, fund administrators, direct holdings, and operational accounts into a single integrated view. It is the foundational operational capability that everything else in the family office depends on.
Consolidation fails along predictable lines: alternative-asset values that lag, custodian feeds that miss intra-month activity, currency conventions that drift between team members, and accounting principles applied inconsistently across periods. Trust in reporting is built upstream, in data discipline, not in dashboard polish.
Working consolidation requires a written reporting policy: timing conventions, valuation rules for illiquid positions, currency translation rules, and reconciliation responsibilities. Alternative assets get their own process because they cannot follow the same timing as listed positions.
Related terms
Deeper reading
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From choosing between a single-family and multi-family office to sequencing your first hires and estimating true running costs, this guide walks through every major decision in building a family office from scratch.
Setting Up a Family Office: Structure, Costs, Build Sequence
A practical guide for principals deciding whether to establish a family office: when an SFO beats an MFO, what it costs by AUM tier, which functions to build first, and how to pressure-test readiness before committing.
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Not all family offices offer the same services. This complete service map distinguishes core from optional functions and shows how scope shifts across single-family, multi-family, and outsourced models.
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