Family Office Services

Services | Advisory | Managed Services | Family Office Services

Managing the most important business: Yours

From securing the financial future of succeeding generations to curating an art collection. From investing in a sports team to endowing a foundation. From navigating a major liquidity event or transitioning a business to managing social philanthropy or sailing a yacht around the world.

Every ultra-high-net-worth family’s financial goals are unique. Demands on a family office vary widely — while the family’s objective is to enjoy and grow its wealth. BPM can help.

Today’s family offices manage a range of functions, from investment tracking and accounting to budgeting and forecasting, from modeling the tax impact of planned acquisitions or divestitures to examining and reporting on a raft of diverse investments and measuring the impact of philanthropic activities. Alongside these activities, the family office enables and executes strategic planning, helping the family get where it wants to go.

Wealth brings complexity along with opportunity. At BPM, we understand that. Our goal is to simplify how your family office operates, allowing you to realize your objectives while family members achieve their dreams.

The dedicated members of BPM’s Family Office Services team help family offices develop and cater to the needs of the family it serves, seeking to ensure its financial well-being while simplifying financial management and lifting the burden of time-consuming tasks.

The family office is a unique family business … created to provide tailored wealth management solutions (from investments to philanthropy) in an integrated fashion while promoting and preserving the identity and values of the family. Many business owners … realize that their interests are best served when management of the family’s wealth is handled separately from the family business.The Family Office Exchange (FOX)

Our approach? Simple. Family first.

BPM’s Family Office professionals tailor our services to best address the financial goals of each specific family and its related businesses. For ultra-high-net-worth families, we often act as first-recourse advisors to the family office’s CFO. For other clients, we act as that personal CFO, providing financial oversight and planning while enabling the family’s life plan.

We keep our clients’ objectives in the forefront of everything we do. Our advisory and tax planning professionals advise on effective strategies and best practices for managing intergenerational wealth and related transfers, such as the sale of a family business, a pending liquidity event, or managing estates and trusts. Additionally, our professionals model the impact of high-value transactions, such as asset purchases or divestitures of real estate, aircraft, private recreational vessels, and fine art and collectibles.

The purpose of every family office is unique, reflecting the goals of the family it serves. Some seek to grow wealth along with intergenerational planning. Some are heavily involved in the investment process, with a chief investment officer and investment staff. Others have complex, diversified portfolios and need to analyze the tax implications of sales or financing options for new purchases. Still, others have a more functional mandate: to ensure regulatory compliance, provide reports and keep records. We’ve helped all types of family offices to achieve their mission. It’s quarterbacking. It’s concierge services. It’s advising from the standpoint of our knowledge and your trust.Jenise Gaskin

Managing the basics — enhanced to meet your needs

BPM’s Family Office team offers comprehensive back-end financial management services to allow your team to focus on strategy and planning. Accounting across diversified portfolios is complex, and each family member may have their own personal priorities — requiring different types of reports and different levels of access to portfolio review.

Using Sage Intacct cloud financial management software, BPM simplifies and streamlines back-office functions. The versatility of Sage Intacct’s software allows not only real-time reporting but comprehensive dashboards that can be customized to the needs of different key stakeholders and personnel — from individual family members to the CFO, and from the chief investment officer or controller to back-office accounting personnel.

It’s personal, right? I think that’s our key differentiator. Every client is different. Each has different needs and goals. A desire to travel. Transferring wealth to their loved ones. A host of different investments to manage. Philanthropic goals are driven by their values and philosophies. Then the day-to-day complexities: managing staff and payroll, paying bills, accounting, treasury, cash management and reporting. Educating the family. All of it. We personalize our services to suit the family that the family office works for. We deliver timely, quality service to get a family where they want to go. Competence, knowledge and our professional skills matter. Absolutely, these matter. But it’s personalized work we enjoy. It’s working with people. That’s what matters most.Kris Marney, Director – Advisory, BPM Family Office Services

BPM’s Family Office Services team integrates a full range of services. We act as trusted advisors by convening all the family’s advisors to collaborate on and collectively execute the family’s plan.

We help families to establish and meet legacy goals, plan wealth transfers, execute charitable giving and consult on philanthropic plans.
We manage accounting and systems, internal audits and controls, and compliance reporting.
We facilitate relationships and communications with different advisors and service providers, including brokerage and investment firms, as well as private equity and venture capital partnerships.
We provide personal accounting services, including financial reporting, forecasting, budgeting and spending plans, cashflow analysis and real-time tracking.
We educate family members, including the next generation, on wealth planning, investment and financial management, and philanthropy.

We also provide specific solutions as needed, including:

Cash flow modeling for capital calls, estimate taxes and real estate taxes.
Net worth statements for estate planning, investing and lines of credit.
Financial statement audits and compliance filings.
Tax planning and compliance.
Treasury management, reconciliation and bank coordination.
CFO services.
Succession planning.
Software consulting and optimal financial system configuration.
Insurance reviews and coordination.
Automated bill-pay and cash management.
Household staff payroll management, and compensation and benefits administration.

Our technology solutions automate key tasks, streamline functions, simplify reporting and tracking performance, and increase speed and efficiency. You gain more insight into your family’s and its businesses’ finances while improving functionality and right-sizing your systems and annualized software spend

Learn more

From front-end relationship management and strategic wealth planning to back-end financial management, accounting and tax services. From compliance management to bill-pay and payroll. BPM’s Family Office Services team helps family offices meet a wide range of financial management needs.

Alongside these services, we bring the added value of BPM’s experienced private client services team, tax and accounting advisors and BPM’s deep bench of more than 1,200 people.