“Previously it may have taken several weeks or even a month to process a client with multiple large portfolios, but with Artiffex it now only takes a few days at most. And for those smaller portfolios, you can do an entire year in a couple of hours,” said Jill Croft CPA, CGA, Client Service Manager at S+C Partners. “Even when clients have multiple portfolio managers, the system can handle it. We haven’t come across any situation where the platform couldn’t handle a statement.”
Since opening their doors in 1987, S+C Partners has served as a full-service CPA and advisory firm, providing professional accounting, advisory, and tax services all across the Greater Toronto Area. With a staff of over 70 employees – including 7 Partners and 5 Associate Partners – S+C Partners have been strategically creating value and preemptively solving problems for their clients for many years, specializing in entrepreneurs, private corporations, and high net-worth individuals.
“The primary challenge was that manual bookkeeping for portfolios was often time-consuming – especially for portfolios that were actively managed with a high volume of transactions,” said Michael Raynor CPA, CA, Client Service Partner at S+C Partners. “Not all clients had wealth advisors that produced year-end tax schedules and related tax reporting that could be used to record the underlying account activity at year-end, and so the time needed to reconcile these portfolios could be extensive and result in high costs to the client (which the client did not always value despite the amount of work and complexity involved).”
- Provide their clients with monthly reporting across all their portfolios
- Streamline and automate the reconciliation of their clients’ portfolios
- Simplify processes for clients with foreign currencies or other added complexities
The Measure of success