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Datafaction Selects Private Client Resources (PCR) to Support its Data Management SolutionsNEW YORK and LOS ANGELES, Jan. 14, 2020 /PRNewswire/ -- Datafaction, a leader in financial accounting and secure bill pay solutions designed specifically for firms that service Ultra High Net Worth (UHNW) families and individuals, announces a collaboration with Private Client Resources (PCR), the leading provider of data and wealth information management services to UHNW families, private banks, multi-family offices, and advisors.  The collaboration integrates PCR's Total Wealth Aggregation™ solutions with Datafaction's secure bill payment and specialized accounting software for business managers and family offices. The collaboration enables a complete end-to-end solution integrating client's investments information into Datafaction's AgilLink accounting platform eliminating manual data entry and scaling the process of producing consolidated balance sheets and investment aware income statements. "Datafaction's investment data integration with PCR has made the process of reconciling our clients' investment accounts less labor-intensive and much more efficient," said Peter Garelick, a wealth manager with Global Business Management Inc., a business management firm in Sherman Oaks. "With transaction and investment holding data from multiple custodians feeding into our accounting software, it ensures that our clients are getting the most up-to-date, accurate information and it helps scale our operatios." "Our clients rely on us to help them scale their operations while offering more control and transparency into their business. By being able to aggregate investment data and to transform this data into usable and insightful financial accounting information it solves a significant pain point in the industry," said Verna Grayce Chao, EVP Head of Treasury Solution for City National Bank and General Manager of Datafaction. "We are excited to be collaborating with a firm such as PCR that like Datafaction has a rich heritage in providing top quality solutions to service the complex reporting needs of UHNW families and individuals." "The synergies in this collaboration are core to our value proposition. Our ability to automate the aggregation of even the hardest to aggregate asset classes empowers solutions like Datafaction to focus on delivering more value to customers - not building costly data operations," said Bob Miller, CEO of Private Client Resources (PCR). "The combined capabilities are unique and we are excited about the prospects for their continued success." The announcement comes after multiple clients have already gone live on the solution. About Private Client Resources (PCR) PCR provides family offices, advisors, institutions, pensions, endowments & foundations, OCIOs and technology providers an easily implemented data-utility that streamlines how data on hard-to-aggregate client assets are managed. Our Total Wealth Aggregation™ combines data aggregated from more than 450 custodians, along with alternative investment valuations and activity curated from the investor communications of over 10,000 fund managers. All delivered securely with our industry leading privacy-technology and seamless integration. With more than $400B in assets on platform, PCR is driving family management innovation allowing firms to invest in their next great idea - not collecting, normalizing and reconciling data. For more information visit: https://www.pcrinsights.com About Datafaction Datafaction services the needs of over 400 family offices, business managers and sport management firms that offer pay bill and accounting services. Our specialized accounting and secure bill payment solution incorporates document management, approval workflow and online integration with City National Bank. Datafaction is a wholly owned subsidiary of City National Bank. With $56.2 billion in assets, City National Bank provides banking, investment and trust services throughout the United States. City National and Datafaction are subsidiaries of Royal Bank of Canada (RBC), one of North America's leading diversified financial services companies. RBC serves more than 16 million personal, business, public sector and institutional clients through offices in Canada, the United States and 34 other countries. For more information, visit: https://www.datafaction.com/ Datafaction is an RBC company and is an affiliate of City National Bank, Member FDIC. Media Contacts:
SOURCE Private Client Resources 
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