Raymond DiNunzio, Partner of TOS, joined Julie Cooling, Founder and CEO of RIA Channel, at the CAIS Alternative Investment Summit to discuss technology needs for family offices.
TOS offers financial infrastructure as a service for single family offices and wealthy investors. Family offices and wealthy investors have complex financial relationships, with assets ranging from art to private companies. To date, there hasn’t been a single technology tool to track these investments and calculate risk exposures.
DiNunzio found that there is no blueprint to build a high performing family office, so his team looked at each asset class and financial need to understand the components of these complex organizations. With a recognition that no one piece of technology can do everything, TOS works with emerging technology companies that had solved pieces of the tech puzzle.
It can be quite expensive to do business as a single or multifamily office, so TOS seeks to share resources. As a firm specializing in data analysis and data organization, TOS has automated chores and record keeping, while building a dashboard to understand valuations and estimate risks for both public and private investments.
Many family offices keep the majority of their assets in private and alternative investments, often seeking to take advantage of their experience and relationships in a specific industry. Rather than investing predominately in public investments, families invest alongside other families, including taking companies private in the industry where they have built their wealth.