The new firm has also formed strategic partnerships with wealth management platform, Addepar, among others. Two men who had worked together at Accusource formed the business once Accusource was sold.

KnowLedger, a Pennsylvania-based financial technology company, has launched its business to support streamlined migration of financial data for family offices. Ryan Kerry, CEO and co-founder, formed the company following the acquisition of his previous company, Accusource, LLC to STP Investment Services earlier in 2020. 

The firm moves data from portfolio accounting systems and custodians to general ledgers and its team works with family offices to establish mappings and data flow; it then oversees the recurring movement of the data from various sources to their general ledger.

“If you look closely into busy multi-family offices, you’ll find accounting teams hard at work doing data entry, compiling detailed reports, reconciling data issues, and manually re-keying endless transactions,” Ryan Kerry said in a statement about the new business. 

“They’re spending more time on data maintenance than they are on decision-making. It’s really preventing the accountants from being accountants. Firms want solutions that free up their resources to focus on their core business, not wrangling data. KnowLedger was released for exactly that purpose. We help accountants get out of data entry and get back into accounting,” Kerry said. 

KnowLedger co-founder, Kent Lawson, said: “For most offices, period-end processing is a stressful, time-consuming exercise. Getting everything in on time is challenging. When reports are late or inaccurate, or when data issues arise, addressing and correcting them takes the core team off task and becomes a costly initiative.”  

Kerry and Lawson have worked together for more than 20 years, first meeting in the 1990s at Advent Software. Since then, they each have been involved in family office operations, with Kerry launching fintech services firm, Accusource, in 2008, and Lawson running his own firm focused on family offices while working at a single-family office for over ten years. More recently, they started collaborating again on KnowLedger while at Accusource, and once that company was sold, they created KnowLedger as an independent company to focus solely on this service and to very specifically support family offices.

The new firm has also formed strategic partnerships with wealth management platform, Addepar, and financial management/GL platform, Sage Intacct.