WealthTouch, an independent financial reporting platform that serves family offices, received an $11 million infusion of capital from international private investors, the company said on Monday.

The proceeds come from ultra-high net worth families that have started using its reporting platform and underscore a consolidation trend in that sector of the financial advisory industry.

The company expects to double both the number of clients and the amount of assets on which it reports by the end of the year, said Norman Jones, chief executive officer of WealthTouch. The company is benefiting as family offices representing UHNW clients consider cutting back on their services, merging with other family offices or close altogether.

“A lot of established multi-family offices grew out of good times, [and] have suddenly been caught unawares by asset market values that have dropped through the floor, and they’ve lost clients as well,” Jones said. “There has been a lot of shifting.”   

Several multi-family offices have reconsidered their operating structures and decided to farm out costly overhead processes like financial reporting, Jones said.

Denver-based WealthTouch aggregates client account data from multiple sources, allowing them see exactly how their holdings are performing, and presents the information in a Web-based setting. The company, founded in 2001, serves 370 families. In the fourth-quarter of 2009, it surpassed $15 billion in monitored assets for the first time.