Case Study: Macfarlanes LLP
City based law firm Macfarlanes is enjoying increased efficiencies thanks to Troika software.
"We decided to replace an existing trust accounting software package because we felt the supplier was not supporting it either in terms of personal interaction or in investment for future development. We turned to thewealthworks because it is a well known established business and Troika has a very good reputation in the market. The software provided a new level of performance and functionality for trust accounting and asset management and reporting. "
Piers Barclay, Partner, Private Client Department, Macfarlanes
As advisers to many of the world's leading businesses and business leaders, City based Macfarlanes LLP offers clients an alternative to the world's legal giants. It provides comprehensive services in its chosen areas of expertise, handling work of a quality and scale that places it amongst the leading law firms in the City. Much of the firm's work is international, advising both overseas based and UK clients on multi-jurisdictional projects. Macfarlanes is a Top 50 practice (32) with 72 partners and over 230 other lawyers.
Piers Barclay is a partner in the private client department at Macfarlanes and has oversight of the trust administration group. He specialises in succession, tax and estate planning advice for individuals and their families as well as related advice to trustees and other private client service providers, such as family offices. In addition to UK-based clients, much of his work has an international element, including structuring multi-jurisdictional estates, using trusts in civil law countries and advising non-UK trustees on tax and fiduciary matters
After working with Troika for around 12 months, Piers Barclay remains very enthusiastic about the product and its development potential.
The result
After a year Troika is fully bedded down and it is clear that it is not only more reliable than our previous software but will have significant future benefits as we learn more about exploiting the full potential of its functionality. It has certainly enhanced our service to clients and we are anticipating increasing efficiencies in the future as we expand our use of Troika.
We also appreciate the FISH management tool which has led to much improved reporting and provided the right supervision over the progress of trust accounts.
After sales and customer support has been fantastic. thewealthworks team are extremely friendly, committed and responsive and we know we are dealing personally with people who really know their product and what we need to get out of it.
Piers Barclay, Partner, Private Client Department, Macfarlanes
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