Establishing Your Family Office
We help individuals and families with the process of forming a family office through activities such as:
- Defining the overall organizational structure and resource needs of the family office
- Assessing financial system needs, setting up general ledgers and subsidiary accounting ledgers, and assisting with selection and implementation of appropriate technology
- Establishing and implementing policies, procedures and internal controls
- Facilitating development of budgets and forecasts
- Developing financial and management reporting packages
- Designing and implementing cash/banking structure, opening accounts, ordering checks, etc.
- Facilitating information flow with service providers (e.g., payroll companies, banks)
- Establishing filing systems
- Structuring for income tax efficiency
During the family office start-up period, we also provide staff to help with day-to-day accounting functions such as bill paying, general ledger accounting and financial reporting. Once the office is ready, we ensure a smooth transition of these functions to internal staff.
SEC Finalizes Family Office Rules for Registering as Investment Advisor
Taxable Self-Employment Services or Limited Partners