Family Office Solutions provides complete strategic planning, business accounting, document management, and other helpful services to businesses and organizations. As a licensed accounting firm, we deal with a range of issues, serving our clients with integrity and attention to detail. Get in touch with us today to find out more.
Management and Oversight
- Serve as a trusted advisor and point person (to both board members and shareholders) for all every-day (simple and complex) matters that arise.
- Serve as liaison for beneficiaries to trustee and provide oversight for all activities.
- Stay abreast of continuously changing tax laws and make recommendations for modifications as needed.
- Respond to all member requests; act as nexus between unitholders and managers as needed.
- Make recommendations for LLC distributions to members.
- Communicate and coordinate with other service providers.
- Continuously pursue methods to operate with increased efficiency.
- Attend Quarterly Board Meetings
- Communicate with board and officers on a regular basis.
- Serve as a resource to board and family members to locate and assess other service providers, such as trustee, attorney, insurance, and investment providers.
- Manage Lines of Credit
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Administrative
- Coordinate Quarterly Board Meetings
- Prepare Reports for Quarterly Meetings
- Facilitate distribution of all materials to all interested parties.
- Complete all documentation for new investments.
- Complete all documentation for new family investors.
- Provide notifications to all members confirming upcoming distributions to be made Enterprise document management and storage.
- Provide a secure backed-up server environment for all client documents to be housed in an easily retrievable electronic format.
- Investment Support and Operations
- Serve as a proactive member of family team providing synergies and efficiencies in daily environment.
- Provide access to a secure online portal for clients and their external service providers (if requested) to store certain documentation and allow for easy access to shared information from any device.
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CIO (Chief Investment Officer) Support Services
- Coordinate Monthly Activity with Investment Managers
- Complete and File Subscription Documents
- Coordinate Money Movement for Investment Activities
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- Review and Update Actual Activity to Forecast
- Cash Projections and Management
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Accounting Services, Provided in Accordance with Generally Accepted Accounting Principles (GAAP)
- Monthly General Ledger Accounting
- Monthly Account Reconciliations
- Cash flow management, budgeting and forecasting, plus analysis and discussions on a monthly basis, and formal in-person presentations quarterly.
- Bill Payment and Distributions in a Timely Manner
- Accounts Payable/Receivable
- Financial Statement Preparation
- Investment Transaction Recording and Reconciliation
- Capture and reconciliation of equity and fixed income activity, corporate action activity, and partnership investment activity.
- Establish audit trail for all financial transactions. Work with external auditors as required.
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Tax Services
- Prepare and file all required federal, state, city and local returns, extensions and filings as necessary.
- Prepare K-1s, 1099s and 1096s.
- Provide support to individuals regarding tax obligations and work with outside tax preparers if necessary.
- Provide tax-planning recommendations on investments.
- Prepare tax projections on income and expenses and distribute to members.
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