Fliore across several custodians: one consolidated view instead of many statements
Updated: 2026-09
Consolidating assets across several custodians rarely fails on the arithmetic and usually on three things: differing statement formats, divergent valuation dates, and inconsistent classification of the same position. An overall view only emerges once all three are settled.
As soon as assets sit with more than one custodian, a consolidation problem arises. Each bank supplies its own statement in its own format, with its own categorisation and often as at a different date.
The result is an overall view either produced laboriously by hand or not at all. Where it is produced by hand, it is already outdated by the time it is finished — and the effort repeats at every reporting date.
The subtler part of the problem is classification. The same position can be categorised differently at two banks. Adopting those categories unchecked produces an allocation overview resting on an inconsistent basis — and decisions derived from it are exposed.
How it works
- 01
Define your own classification logic
Do not adopt the banks’ categories; define your own system that everything is mapped onto.
- 02
Align valuation dates
An overall view assembled from statements at three different dates is not an overall view. The common date belongs fixed in advance.
- 03
Document divergences rather than smoothing them
Where figures do not match, that belongs recorded. A silently smoothed difference cannot be found later.
- 04
Convert foreign currencies consistently
At which rate and as at which moment conversion happens belongs fixed once and then held to.
- 05
Look through where structures sit in between
Where a company holds positions, the bank position is not the economic position. Without look-through the allocation is wrong.
- 06
Make the reconciliation repeatable
A consolidation process reinvented every quarter produces different figures every quarter.
Why it fits here
Fliore is built as an operating system for a family office — consolidation across custodians is not an add-on but the starting point.
Look-through consolidation represents what is actually held behind a structure, rather than stopping at the bank position.
Data held in Switzerland, in Zurich — with client asset data the location is regularly a hard requirement.
FAQ
Why not simply add up the bank statements?
Because they use different valuation dates, categories and currency conversions. Adding on an inconsistent basis produces a number but not a reliable one.
What is look-through consolidation?
Looking at what is actually held behind a holding or fund structure, rather than treating the structure itself as one position.
How often should consolidation happen?
That follows the family’s reporting rhythm. More important than the frequency is that every run follows the same system.
What about illiquid positions?
They belong recorded with their valuation basis and its date. A valuation without a date is worthless for illiquid assets.
Does Fliore replace the custodians?
No. Custody stays with the banks; Fliore produces the overall view above them.
FLIORE
Fliore is built as an operating system for a family office — consolidation across custodians is not an add-on but the starting point.
Look-through consolidation represents what is actually held behind a structure, rather than stopping at the bank position.
Data held in Switzerland, in Zurich — with client asset data the location is regularly a hard requirement.