In wealthtech, very few phrases capture ambition quite like the concept of a “one-click family office.” It captures the idea that managing complex family wealth can be solved with a snap of the fingers or a click of a button. And in recent times, one of the main requests Max Wattel of Elysys has been getting from family office clients is just that. Founded in 2006, Elysys boasts a remarkable 97% client retention rate, so we asked Max to elaborate on this highly sought-after solution, what it truly means, and how Elysys is responding to its clients’ needs.
What is a ‘one-click family office’?
Fluent in translating family office client requests, Max reckons that the concept of a “one-click family office” originates from their desire to automate operations and reduce manual tasks across every aspect of their workflows.
Initially, family offices sought to automate processes such as bookkeeping and portfolio management. As the technology matured, they shifted their focus from bookkeeping to aggregation, calculation, and financial reporting. They wanted to automate data imports from external partners, including banks, brokers, and market data providers.
In response, Elysys launched an investment accounting application for Business Central. This offered family offices an ERP solution to manage all operations. Previously, family offices used separate systems for portfolio management and accounting. By integrating portfolio management and accounting, Elysys provided a seamless operating environment for family offices. It eliminated the need for multiple systems, streamlined workflows, and improved efficiency.
“This ongoing evolution of automation is what has given rise to the ‘one-click family office’ concept, reflecting the continuous pursuit of efficiency and simplicity in family office operations.’ -Max Wattel, Managing Director, Elysys Financial Systems.
Integration as the foundation
Today, family offices operate as networked organisms. In other words, they are constantly moving their finances between custodians, advisors, and internal systems. And as financial data flows continuously in and out of the family offices, it’s assumed that much of it is already standardised and can be easily exchanged. However, the reality is far more fragmented.
As Max explains, each bank maintains its own data formats and connectivity requirements. The same applies to brokers and other market participants. And as can be expected, some players are highly advanced, while others lag behind in terms of technology and integration capabilities. This diversity in standards and approaches creates a challenging environment for software providers serving family offices.
Over the past five years, a significant focus has been placed on bringing all family office clients and their partners together onto a unified platform. Moreover, Elysys has invested deeply in the endeavour. One of the most significant advantages Elysys clients have experienced comes from seamless integration with custodian banks. Another is the company’s recent work with alternative investment data providers. By establishing direct connections to these institutions, clients have been able to automatically import all transaction data, resulting in substantial time savings and reducing the potential for manual errors.
AI as the next layer
After years of integration work, the AI revolution is already underway. Max sees AI as a continuation of Elysys’ automation roadmap. “One of the most promising AI capabilities already implemented within our system evolves around our new AI agents designed to automate routine tasks,” he says. That means users can rely on AI to book bills, purchase invoices, capital calls, and distribution notices directly from a shared mailbox set up for this purpose.
AI plays a key role in reporting and analytics platforms by helping users maximise their data. It assists with creating custom reports, compares financial data to public sources for portfolio analysis, and offers insights for simulation scenarios.
Max explains, “You can simply ask the system: ‘Compare my performance to industry benchmarks.’ The AI uses group financials as context, refines the scope if needed, and delivers results.” This change is transforming user interactions with the platform, making it accessible even to those without technical expertise.
For enhanced security, Elysys chose the Microsoft Copilot AI model. Meaning the company aligns with the robust security, confidentiality, and operational boundaries of the trusted Microsoft Office 365 Copilot suite. By remaining within this unified technological ecosystem, it limits disparate technologies, strengthening efficiency and security, mitigating risks, and supporting a consistent, streamlined wealth management experience. Integrating this AI tool keeps data secure within the Microsoft Tenant.
One click at a time
When Max first began working with Elysys, family offices were hesitant to upgrade their technology stacks. They generally preferred the “wait-and-see” strategy. However, in recent years, this has shifted drastically. Most family offices now have a strong desire for technology, making them more open to adopting new solutions and functionalities. Despite this progress, the biggest operational challenge facing family offices is keeping pace with the fast-moving technology landscape. Technology evolves too quickly; as one layer of friction is removed, another opportunity for improvement emerges.
So, will we eventually get to a ‘one-click family office? “In a static world, maybe it would be possible,” Max says. “But in a world that’s constantly changing, the goal isn’t a single click, it’s continuous simplification.” Ultimately, the “one-click family office” is not a destination, but a philosophy. It is a commitment to reduce friction, to connect systems and people, and to let technology simplify operations. It’s a vision built on integration, one automation, and perhaps one click at a time.
