The CIO and COO of an established international family office sought a strategic review of its investment operations to understand the gaps between the current state and industry best practices across each function.

The CIO and COO hired UPC to review all operational functions including:

1. 1. Accounting
2. 2. Audit
3. 3. Cash management
4. 4. Investment execution
5. 5. Reporting
6. 6. Research management
7. 7. Risk management
8. 8. Tax

During the discovery phase, UPC reviewed available documentation and led discovery sessions with the team.  The goal was to understand the current processes, technology, and vendors used for each of the functions listed above.  These sessions were conducted both virtually and in person.

At the start of each session, follow-up questions were addressed based on the content covered previously. Additionally, UPC took time to educate the family office on best practices and any gaps identified in prior sessions, ensuring that all recommendations were vetted with the team in advance.

UPC also held bi-weekly check-in meetings with the CIO and COO to review the project plan, discuss findings, and review draft versions of the strategic review report.

The recommended actions included the need for additional technology within the investment office. As a result, UPC led a vendor selection process for the family office, which involved creating an evaluation matrix, coordinating and facilitating demos, providing off-list references, and drafting a final recommendation.