Based in the fintech hub of Charlotte, NC, Private Wealth Systems is led by Craig Pearson, chief executive, and Joanne Frawley, executive vice president.

The firm is aimed at ultra high net worth families, family offices and private banks, but is also seeing demand from RIAs and high net worth individuals.

Pearson is most known for his time at WealthTouch, where as head of sales he grew the company by a factor of three and led the company’s expansion into South America and Northern Europe. He became president of WealthTouch in 2013 with the task of recapitalizing, restructuring and selling the company. He has over 20 years of experience in the financial technology sector, with a strong background in institutional and self-directed portfolio management, trade order management, compliance and investment reporting.

Frawley has spent her entire career designing and building multi-asset, multi-custodial performance reporting platforms and worked at WealthTouch between 2010 and 2012 as vice president of portfolio reporting products.

The launch of Private Wealth Systems comes at a time of sustained and heightened industry focus on the topic of client wealth reporting as clients demand greater control over their wealth and, crucially, want error-free data wherever they are.

Pearson said that by combining his team’s domain expertise with modern digital technologies, Private Wealth Systems will set a new standard for data accuracy, comprehensiveness, mobility and intuitive design. The firm has been built to support the highest levels of financial complexity across investment instruments and ownership structures, and will offer an “unmatched” level of personalization, he said.

“In terms of personalization, Private Wealth Systems allows individuals and advisors to create custom attributes at the security level, allowing users to analyze and manage wealth based on their personal view,” Pearson added.

“What this means is a husband can define a security as large cap domestic growth that is socially responsible while his wife defines the same security as mega cap international value that is not socially responsible, impacting asset allocation, planning, reporting and other downstream analysis. This level of personalization also helps advisors elevate and differentiate their service in how they manage each client’s wealth.”