The Family Office is a concept from the West where the management and investment decisions for a single wealthy family occur centrally. Although we don’t call them Family Office’s in India, most families are run like Family Office’s since the investment decisions affect the entire extended family. When we designed MProfit we took a look at the India Family Office concept and made it a central part of the software via our Groups feature. Our grouping feature allows you to aggregate all your individual personal portfolios into a single group view. This single group view is similar to how most Indian families view their portfolios as a single portfolio and not just individual portfolios.
The Grouping feature is very powerful when you create reports within MProfit. One example is the Group Asset Allocation report for Stocks, with this report you can easily see where you major stock holdings are for your entire family. Without the Grouping feature you would have to manually figure out each individual’s stock allocation and the add them together in Excel…not very efficient or easy. With MProfit, it takes just one click to generate the report.
Overall, MProfit is actually a Family Office software solution for Indian households and our easy to use interface is the perfect way to manage all your assets. Other family (group) features:
- Consolidated view of entire family (group) networth
- Create and manage multiple family (group) portfolios in various combinations of your individual portfolios
- Group Annualised Return (XIRR) for any asset, asset category or family portfolio
- Group Holding report which gives you detailed holdings for group members
- Asset Allocation report for the entire family (group)
- Due Date report for the entire family (group) for insurance premium payment, maturity and lock-in
At MProfit, we get many queries from customers on the best way to financially plan for the future. Due to the frequent queries, we are starting a new blog and YouTube series called MProfit Basics. MProfit allows you to organize, manage and track all your investments, making it easier to plan for the future. In this series we will follow a family of 4 (Mr. Shah, Mrs. Shah, Niraj and Sunita) and describe the benefits of using MProfit.
