Q&A with Quinn Tran of FinixDLT

Asset Management
Family Offices are managing a multitude asset types such as traditional equity, real estate holdings, fine art and private equity. Managing the wide array of asset types becomes a daunting task when each asset type has a different input of documents and obtaining the necessary information to value the assets correctly. In addition, to management of the various types of assets, family offices must ensure that there is enough liquidity to meet the needs of the family purchases.

Information Security
Family Offices may not be using the most up to date technology therefore the chances of security breaches are high from the use of passing documents and communications through email.

Record Keeping
There is a generational difference when it comes to how records are maintained and received. Older generations may prefer physical copies of documents and reports vs the younger generation will prefer real-time information.

Use of multiple applications
Family offices have a multitude of assets and account types, there's a need for tracking of the transactions and documents that were associated with the transactions. In many cases, the family office may be using 3 or more applications to manage the family members accounts and assets.

Private companies are often challenged with transparency for valuations and accurate record keeping. Private companies may hold equity assets and will have a difficult time obtaining a valuation for private companies or venture capital acquisitions in their portfolio.

The approach to obtain valuations from other private companies could be a daunting and manual process that requires emails, faxes, or phone calls to obtain the valuation report.
Receipt of valuations and the data entry of valuations can be a time consuming tasks for private companies that may manage a substantial amount of investors and their assets.

Private companies need to maintain cap tables with every transaction frequently, so they stay accurate and prepared prepared for fundraising. Founders, lawyers, and finance teams can save time and money on costly cleanup. This also builds trust among different stakeholders (investors, management, employees, auditors...)

Professional firms such as attorneys, accountants and trust organizations is finding that it is difficult to obtain the information such as documents and valuations for their customers that may have investments into private equities. The process of obtaining the information needed to service their customer may require and email, fax or phone call to the private equity company or custodian.

Finix Solutions offer a simple to use account and private asset administration for the parties listed above. Finix understands that for the parties above to operate in an efficient manner many of the challenges listed are addressed. With Finix, we start from building for the account holder/investor and then link the private assets to the account holder through transactions. Finix has a built in Document Management functionality that is tied to either an account or the account transaction.

Private Asset information entered into Finix will include all of the information a family office, private equity firm or the professional firms will need when performing their service routines for their investor or customer. Finix displays the necessary information that provides transparency to all parties on the Finix platform.

For professional firms, the need to be cost efficient and have a streamlined process of obtaining the information needed to complete tax filings, trust administration, equity ownership verification and estate planning is critical.