Paul | McCoy saves 80+ hours per week on document and data consolidation with Arch

Since 2001, Paul | McCoy has solidified its reputation with families and high-net-worth individuals as a comprehensive partner for financial management. However, amid rapid innovations in fintech and periods of market turbulence, its clients sought visibility into their financial positions at a pace that was difficult to match through manual operations. “There was a major shift in 2020 when the markets were extremely volatile," explains Coco Plum, Partner at Paul | McCoy. "Our clients were trying to make financial decisions in the blink of an eye."

As a family office comprised of industry veterans accustomed to dealing with paper statements, Paul | McCoy found the digitalization of documents and data created entirely new roadblocks. Between accessing different portals for each asset manager, and collaborating across internal or external teams, gathering the necessary information for financial reporting was a fragmented and time-consuming endeavor.

Even after onboarding Addepar to streamline these workflows, the firm had to bring on three full-time employees whose sole responsibility was to track down documents, taking on a huge cost just to keep processes moving.

Paul | McCoy knew existing workflows were unsustainable, and if its team wanted to move as fast as clients needed them to, automation would be essential. Its team sought a secure platform that allowed for greater reporting visibility and operational velocity — with a strong focus on customer service and AI enablement.

Fortunately, their point of contact at Addepar recommended Arch, whose financial operating system for private markets proved to be the ideal fit.

Arch transformed how Paul | McCoy executes financial management for its clients. Instead of manually tracking down documents and data for capital calls, distribution notices, K-1s, and reports from hundreds of portals, they now rely on Arch to automate this process. Arch’s advanced data processing automatically collects, extracts, and summarizes critical investment data from diverse alternative investment documents, organizing it into a searchable repository. For Paul | McCoy, that technology, paired with Arch’s white glove service, delivers a seamless experience, from onboarding to advising. With Arch, Paul | McCoy keeps their competitive edge sharp, saving time and ensuring data accuracy with confidence.

To ensure data visibility and ease of use, the Paul | McCoy team receives the Arch Daily Digest email newsletter straight to their inbox, updating them on new tax documents, critical notices, and tasks. With this information, Paul | McCoy can assign each responsibility to a team member to resolve, all while maintaining a consolidated view of client-related tasks.

Paul | McCoy's clients can also opt in to receive the Arch Daily Digest email newsletter, which pushes all major updates directly to their inbox, enabling effortless tracking and learning from their private market investments. This is especially valuable for the Paul McCoy clients who are investment professionals in Private Equity or Hedge Funds as their day job and are accustomed to this level of granular access to underlying investment updates and statements. Gaining this level of visibility into their portfolios has improved communication and collaboration with their advisors, bolstering trust along the way.

From managing capital calls, delivering distributions, or sending tax documents, Arch tracks statuses and flags anything that's overdue. Plus, Arch maintains its own comprehensive reporting capabilities while also integrating with Paul | McCoy's legacy platform, Addepar, to provide a consistent and unified source of truth. In the words of Coco Plum, Partner at Paul | McCoy, "Arch has made centralizing our reporting operations a snap; it's an amazing solution."

With Arch, Paul | McCoy transformed document and data consolidation from a burden to its competitive advantage. Rather than spending their days sifting through portals, the team now uses unified and accurate data, aggregated by Arch, to make more informed decisions on portfolios. This solidifies and deepens the trust they have established with their clients.

Today, Arch remains a linchpin to Paul | McCoy's daily operations. No matter the variable needs of the families and individuals they serve, Arch is the essential system that enables the team to move with agility, efficiency, and reliability.