Consolidated reporting brings every account, asset class, currency and custodian into one clear picture. For HNWIs and UHNWIs with multi-bank portfolios in Switzerland and abroad, it therefore transforms fragmented data into actionable intelligence. Moreover, it supports oversight for performance, risk and costs.
What Is Consolidated Reporting?
Consolidated reporting combines positions, transactions and valuations from multiple banks into a single report. It does not replace tax reporting; instead, it provides an operational view. As a result, wealth managers can improve performance tracking, enhance risk oversight, optimise cash and liquidity management, and strengthen cost transparency.
Why It Matters in Swiss Wealth Management
- Multi-bank reality: HNWIs and UHNWIs often hold assets across several Swiss and international custodians. Consequently, a unified view becomes essential.
- Transparency & governance: Clear visibility of fees, retrocessions and share classes builds trust. Furthermore, it aligns with regulatory standards.
- Cross-border fit: It also normalises different closing times, currencies and data standards into one consistent report.
- Decision speed: Timely dashboards reduce manual collation and lower the risk of errors.
Key Benefits for Clients
- Single source of truth: One report across banks, entities and currencies ensures clarity.
- Diversification clarity: In addition, clients see exposures by asset class, region, sector, style and currency.
- Cost control: Therefore, custody, mandate, transaction and product fees can be tracked in one place.
- Better oversight: Moreover, risk metrics, cash ladders and performance attribution are visible at a glance.
- Family-office ready: Governance workflows, sign-offs and audit trails strengthen compliance.
Challenges and Considerations
- Data quality & mapping: ISINs, tickers, look-through data for funds, and private market valuations must be harmonised. Otherwise, inconsistencies remain.
- Valuation timing: Cut-off differences (US vs Europe/Asia) cause minor variations. However, these can be explained transparently.
- Integration & security: API connectors, SFTP feeds, encryption and access controls reduce operational risk.
- Compliance & records: Suitability documentation, audit trails and governance workflows are required. As a result, reporting supports regulatory demands.
Client Questions to Ask
- Can I view a single report that encompasses all banks, entities and currencies, or do I still need to check each custodian separately?
- How do you disclose all fees and retrocessions across products and banks? In addition, are these shown in detail?
- Do you provide performance attribution and risk analytics by asset class and currency? If so, how frequently are they updated?
- What platform powers your consolidated reporting, and how is my data secured? Furthermore, what happens in the case of system failure?
Key Takeaways
- Consolidated reporting delivers clarity, control and faster decisions.
- It aligns with the Swiss multi-bank reality and, in addition, enhances governance for UHNWIs.
- Fee transparency improves when everything sits in one report. As a result, trust and decision quality rise.
FAQ: Consolidated Reporting
Is consolidated reporting the same as tax reporting?
No. Consolidated reports support oversight and decision-making. However, they do not replace official tax statements and should always be used as a complement.
Can I include private markets and alternatives?
Yes. Modern platforms usually support fund look-through, private equity, private credit and real assets. In addition, valuations are updated periodically to ensure reliability.
How do you handle different closing times?
Reports standardise cut-offs and disclose timing differences. As a result, small valuation gaps are flagged transparently. Moreover, this ensures clients always understand the context.
Will I see all fees and retrocessions?
That is the objective. Quality reports capture custody, mandate, transaction and product costs, including any retrocessions. Therefore, clients gain full transparency across providers.
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