September 2nd, 2010
Inc. magazine today ranked Archway Technology Partners NO. 432 on its 29th annual Inc. 500, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs.
The methodology to the 2010 Inc. 500 is to rank companies according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2009. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million.
August 31st, 2010
Archway Technology Partners is seeking candidates to fill a Senior Network Administrator opening. The position is based at our headquarters on the north side of Indianapolis.
At Archway, this individual will be a key component of the technology team with significant responsibility and high visibility. This individual will oversee management of the company’s internal network and hosted application environments. This position will allow a talented and enthusiastic candidate the opportunity to have an immediate impact within the organization and build/support an architectural footprint capable of scaling with the firm’s tremendous growth.
To learn more, click here!
August 23rd, 2010
Over the past weekend, Archway released several enhancements to the ATWeb platform. While our client base has received formal communication and training as needed, we feel it is our obligation to highlight a few enhancements to our regular readers, prospects and partners. A subset of the enhancements include the following:
User Security – Reports – Clients taking advantage of more advanced ATWeb User Security functionality will notice two enhancements to user permissions required for generating reports in ATWeb.
Accounts Payable General Updates
> Payment Cycles Indicator
> Distributions to an Entity
> Accounts Payable Workflow
Accounting Period Income Allocation – Distributions – Accounting Period income allocation logic has been updated to more accurately reflect the impact of distributions on Entity ownership. Distributions entered through the Accounts Payable Module will be factored into Entity ownership following a daily weighted average method, thus changing the allocation of income at the end of the period. As equity changes throughout the accounting period, the ownership percentages used to calculate income allocation during the close process will also change. Prior to this update, distributions had no impact on Entity ownership in relation to income allocation until the following accounting period.
Income Fee Calculation with Benchmarks – Users now have the ability to assign specific benchmarks to be used as a hurdle rate for Income Fee calculations. In order to use this functionality, a Synthetic Benchmark must first be created in the Security Master.
Asset-Based Fees Charged through Accounts Receivable – Clients using the Management Fee billing functionality through the Accounts Receivable Module will notice a significant enhancement to the Fee Tier configuration options.
New Reports & Reporting Updates
> Open Tax Lots by Portfolio
> Open Tax Lots by Security
> Entity Ownership}
> Period Balance
> Change in Profit and Loss
> Consolidated Statement by Profile Class
Other Updates
Archway Development released seven (7) integration-related enhancements, including updates to current integrations and new integrations with the following data providers:
> Morgan Stanley (Prime Brokerage system)
> BNY Mellon (IAS system)
> Merrill Lynch (PBIG system)
August 16th, 2010
Archway continues rapid growth through new deployments of the ATWeb Portfolio Edition. RIA’s, Asset Managers and Prime Brokerage firms are achieving the value of the web-deployed platform and realizing it serves as a true competitive advantage.
With the client portal and new reports coming that will enable managers to better understand allocation, performance and risk, ATWeb is the refreshing tool set managers and client appreciate. Daily portfolio reconciliations can be completed by your team or outsourced to Archway!
For more information and screen captures of the tool, please click here.
August 10th, 2010
The Private Family Office Summit will now be held at the Four Seasons in Toronto on September 21st and 22nd. Archway will again be presenting on family office technology and how to manage complex, tiered ownership structures. Please join us, select clients and others looking to network and learn more about the family office landscape in Canada.
August 2nd, 2010
The team is excited to welcome Rob Caldwell to the Services team. Rob is beginning Archway’s Core Training Program this week and will roll into a client delivery role. We are pleased to have Rob and always welcome resume submissions for careers with Archway.
July 28th, 2010
Archway’s ATWeb platform is featured in the August issue of Private Wealth Magazine in an article written by Hugh Bagatelle, Partner of Windward Advisory. The article titled, “Getting The Whole Picture“ discusses options and methods for asset aggregation and collecting data from multiple providers, including banks, brokers and custodians then using this data from more accurate and timely reporting across the family office enterprise.
For the entire article, click here!
July 22nd, 2010
The first phase of system and user acceptance testing for ATWeb v.4.3.01 begins this week. The Archway team is fully engaged and gearing up to release new functionality on August 22! As you will see very soon, among the items in this release will be enhanced workflow functionality, more performance reporting and 3rd party integrations.
We are looking forward to a successful deployment and will shortly thereafter begin building the already designed functionality for the October release. As always, we value your input and welcome ideas.
July 16th, 2010
Archway Technology Partners has been recognized as one of the 2010 Indiana Companies to Watch, an awards program presented by the Indiana Economic Development Corporation, its Small Business Development Center network, Purdue University and the Edward Lowe Foundation.
Forty-one companies from Indiana will be honored as outstanding second-stage companies during the third annual Indiana Companies to Watch awards program, held on Aug. 26 in Indianapolis.
Companies to Watch is an awards program that celebrates Indiana privately held second-stage companies, typically those businesses that are past the startup phase, are considered to be established, and face issues of growth, not survival.
June 28th, 2010
This past Friday, the House and Senate Conference committee finished reconciling the two versions of the financial reform bill. Over the coming weeks, more details regarding the bill will become much clearer. Until then, below is a brief detail of a few of the major items that will affect the investment management community.
Hedge Fund Registration – Under the new laws, hedge fund managers with assets under management of $100 million or more will be required to register with the SEC. Additionally, these managers will be required to provide the SEC with certain information related to their trading.
Increased State Authority – Currently managers who have at least $30 million in AUM can register with the SEC. After the bill goes into effect, that number increases to $100 million. This means that some managers currently registered with the SEC will have to de-register and then register with the state where the manager resides.
Accredited Investor Standards – The bill would initially adjust the accredited investor standard and then require periodic adjustments over time. Initially, an investor’s equity in a primary residence will no longer count toward the $1 million net worth requirement. This may have a negative impact on smaller hedge funds and small companies who rely on accredited investors for investments.
Next Steps – Once the bill is signed into law by President Obama, the SEC will begin implementation of the new laws.
June 22nd, 2010
Archway is excited to announce it has been recognized by the Indianapolis Business Journal as the sixth fastest growing private company in the greater Indianapolis area, and noted the fastest software company!
The recognition considers company growth and revenues from the past three years. Most of the growth is attributed to the sale and support of our Enterprise Investment Software platform, ATWeb and our Fund Administration service, Operations Outsourcing. Stay tuned for more news about the recognition!
June 17th, 2010
Archway is excited to be a Bronze Sponsor of the FRA Hedge Fund Accounting, Auditing and Admin Forum on July 21st at the Princeton Club in New York City.
The agenda will be packed with regulatory updates and lessons learned from prior years. Attendees will also get a glimpse of the role technology will play in reporting, mitigating risk and providing transparency. Each of those areas will be heavily reviewed and demanded by existing and potential investors and regulatory arms including the SEC.
For more information about the event, click here!
June 11th, 2010
Following the Family Office Metrics Special Briefing event next Monday, June 14th, Archway is hosting cocktails and appetizers at Fulton’s on the River. Fulton’s (here) is just across from the Mesirow offices so logistically very close to the event.
We hope to see you there!
May 25th, 2010
With the latest legislation move, The American Jobs and Closing Tax Loopholes Act of 2010″ (H.R. 4213), Archway is already prepared to report fee allocation details providing insight to carried interests breakout.
According to a Hedge Fund Tax Alert (found here) provided by Ernst & Young, an ISPI is a partnership interest held by a person that provides a substantial quantity of investment management services with respect to specified assets held by the partnership. Specified assets include securities, commodities, real estate held for rental or investment, partnership interests or derivatives with respect to any of the foregoing. The new provision would apply to hedge, private equity, venture capital, real estate as well as oil and gas funds. There are no carve-outs in the provision for specific industry sectors or fund types. Moreover, these provisions can have broader application to partnerships than one might not consider to be fund arrangements. Also, the provision does not appear to grandfather existing carried interests.
May 18th, 2010
As part of the latest ATWeb release, Archway development released eight integration-related enhancements, including updates to current integrations and integrations with new data providers. Archway recognizes clients appreciate the automated efficiencies and system controls that are carefully designed and built with their data providers including banks, brokers, custodians and pricing sources.
Each integration is scoped to ensure relevant data fields can be provided. Though clients do not always require all information, Archway works to provide portfolio, position, general ledger, pricing and cash balances as part of each integration. Clients can elect to not import some fields, such as pricing, if they prefer to use another data provider such as IDC.
May 10th, 2010
These are some of the steps family offices can take to secure their confidential client information.
Click HERE for the Full Article by Jim Campbell, Windward Advisory
Do single-family offices have the technology to provide the privacy and confidentiality that families desire? The simple answer is, not likely.
To be fair to SFOs, however, it is important to explain why. Financial service organizations such as multi-family offices, banks and investment firms are also challenged in this regard. But these organizations usually have deeper staffing and more money to invest in technology. Additionally, these organizations are subject to regulations and oversight that force them to have stronger controls. SFOs are not subject to this level of scrutiny.
Many wealthy families establish single-family offices for both investment and non-investment services. Another key objective is to put various services under strict family control so financial and personal affairs can be managed in a professional and confidential manner. In a 2007 Wharton Global Family Alliance Study of 138 SFOs of $100 million or more in the U.S. and Europe, confidentiality was tied for second with conflict-free advice as an important benefit to family clients. Trans-generational wealth management services were the most important.
Why is protecting privacy and confidentiality such a challenge? In an open architecture environment, it is extremely difficult for any organization to control every potential point where a breach of privacy and confidentiality may occur. Some may suggest that the task is easier for SFOs since they support only a single client and have a smaller infrastructure. On the flip side, however, SFOs typically have fewer people and capital resources than larger organizations. A smaller infrastructure does not necessarily mean fewer key control points, although it could mean less activity through the same amount of control points.
Moreover, SFOs usually support multiple generations and family branches, each with its own set of relationships, needs and service requirements. This creates operating inconsistencies and additional complexity.
There are three key areas that SFOs must consider when determining if they are adequately protecting their client:
• External service providers
• Internal technology
• The workplace
May 5th, 2010
This week is interesting for Archway as we have teams deployed across the pond in Switzerland and the UK, another team delivering in NYC and several going through test cycles for the ATWeb 4.3.0 release coming soon!
The leadership team is excited to announce hiring plans for this spring and also proud to announce Archway Technology has been selected as a finalist for ‘Indiana Growth Companies To Watch.’ For more information about the recognition, click here!
April 26th, 2010
With tax season behind us in the US and will soon be in Canada on April 30th, Archway looks forward sharing how Enterprise Investment Software can alleviate many of the recurring pains tax filing brings.
Each year, we hear clients suggest “no way will we ever do that again” or “we spend too much time gathering data and that’s not what I want to do or what my boss thinks I’m doing.” Nevertheless, the grunt of tax season should not be as overbearing as it continues to be. Often times, it is very costly to prepare the data for auditors and simultaneously you get behind in your daily jobs. Let’s not forget auditors aren’t known as cheap resources either.
As you recover from another painful Q1, take that sigh of relief that it’s over and begin to plan ahead on how to make life easier for next year. Who knows – you might even be up and running by the fall when the K 1 extension deadlines are due for your partnerships! It’s at least worth a conversation, right?!
April 25th, 2010
Archway Technology Partners is seeking candidates for new positions at its headquarters on the north side of Indianapolis. These positions provide further evidence of Archway’s growth in the market place and continued focus on client service.
The new positions will aid the Client Services and Product Development teams and will make key contributions in client-facing roles. For more information about the new positions, please click here to review job descriptions and requirements. Candidates are encouraged to apply and seek more information at jobs@archwaytechnology.net .
April 15th, 2010
Over the past few years, the hedge fund managers have tried to lure new investors by structuring SMA accounts, matching management fees of other funds even lowering their management fees from the typical 2/20 structure to a 1/10 arrangement.
In a recent article in the Hedge Funds Review, author Joanne Harris further explores hedge fund and hedge fund of fund fee structures. According to the article, “ the average management fee charged by single-manager funds at the end of 2009 was 1.65% with an average performance fee of 18.89%, according to a report by information provider Preqin.”
The article continues, “for fund of hedge funds (FoHFs) the average management fee is 1.44% and the average performance fee is 11.54%. A total of 38% of single manager funds stuck with the 2 and 20 structure that is still seen as traditional for hedge funds. Between the second and fourth quarters of 2009 the proportion of single managers charging 2% management fees dropped from 54% to 40%. The proportion charging between 1.5%-1.99% rose from 22% to 33%.”
For more information on this article click here.
