Family offices and foundations using aggregation services will now have access to an automated reporting system for fine art and collectibles, according to a recent announcement from Private Client Resources. The asset aggregator is partnering and integrating with Lobus to bring collectible portfolios into PCR’s reporting system.
The art and collectibles marketplace is expected to grow from $1.74 trillion today to $2.13 trillion by 2023, according to Lori Hotz, co-founder and co-CEO of Lobus. She has a background in both finance and fine art, having held executive positions at Lehman Brothers and JP Morgan Chase, as well as managing art for Christie’s.
“Wealth held in art requires a nuanced and holistic approach to planning, as well as a sophisticated understanding of the global market,” she said. “Lobus gives collectors access to real-time and historic data coupled with collaborative digital tools that expedite workflows in this evolving, location-agnostic landscape."
PCR is eager to move the art and collectibles marketplace off of spreadsheets and into a more usable form. "For those managing sophisticated collections, Lobus will provide tools that offer the same discipline and controls as they apply to their other investment portfolios,” said Bob Miller, CEO of PCR. Lobus’ cloud-based technology provides “a sustainable strategy to organize and manage these valuable assets.”
The service is available to clients in Europe and North America.