Family Office
Business management is the oversight and management of all financial affairs for a person or family. Business management is commonplace in the entertainment industry for celebrities seeking someone to manage their day to day financial affairs, but has now expanded to include almost any busy professional or family seeking to delegate their day-to-day financial affairs. Business management services are highly customized to tailor the client.
What is a Family Office?
A family office is a wealth management firm that provides bespoke services for the entire financial affairs of a family seeking generational wealth and more oversight over their financial affairs. Family office services go beyond traditional wealth management by integrating all family members for the ultimate objective of maintaining wealth and minimizing estate taxes. Family office services are commonplace among ultra high net worth individuals (HNWI).
What is the purpose of a family office?
The purpose of a family office is to provide high touch wealth management services to an entire family. Some of the common services offered by family offices include:
- Wealth management
- Tax planning and preparation
- Bookkeeping & Accounting
- Estate planning
- Diversification from concentrated stock positions
- Generational financial planning
- Bill payment
- Charitable giving advice
- Legacy planning
- Communicating with banks and lenders
- Assisting in obtaining home or commercial financing
- Receiving and sorting mail
- Collection of rents, royalties, and other forms of payment.
Are you a business owner? Do you need a business management consultant? ACap is a fiduciary financial advisor, and we can help! Contact ACap Advisors & Accountants to schedule your initial consultation-the first one is on us.