Could "Family Office" Support Benefit You?

Greg Gandy

Greg Gandy


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In this day and age of social media, e-mails, texts, professional obligations and personal obligations, it seems as if there is no time to stop and smell the roses. In our fast-paced society, one of the most valuable resources that people fail to accumulate is their free time. The use of a Family Office can help you, the busy professional, regain your most valuable asset…your time.

The term Family Office is often a misunderstood term that most seem to associate with the rich and famous. While it is the rich and famous for whom Family Offices were originally created, it is a service that now is available to any professional who wants to regain their free time.  

While Family Offices take many forms and vary depending upon the individual that is being served, the most important feature that is common to all Family Offices is that there is a Trusted Advisor in place to oversee all aspects of your financial life.  For the remainder of this article, we will focus on the CPA serving the role of Financial Trusted Advisor. 

The services that a CPA can offer in a Family Office environment are that of a true Trusted Advisor, overseeing your entire financial life.

These services include:

  • Personal bill paying
  • Preparation of monthly personal financial statements
  • Personal budgeting and cash flow planning
  • Investment review and evaluation 
  • Insurance review and evaluation
  • Estate planning review and evaluation
  • Asset protection review and coordination
  • Charitable contribution planning
  • Retirement  planning review and coordination
  • Education planning review and evaluation
  • Other concierge services as requested

A CPA can also perform more services that are offered by traditional accounting firms:

  • Income tax return preparation
  • Income tax planning

As you can see from the nontraditional Family Office services that a CPA can provide, one of the key features is the review and evaluation of investments, insurance, estate and asset protection planning. This coordination means that you need only one point of contact, the CPA. Your CPA can coordinate and monitor all other members of your financial team, like your attorney, investment advisor, etc.

 Please view our Web site for more information on how your CPA can help you manage your most valuable asset…your time.

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