Family Offices

Family Offices face a number of unique challenges in addition to the traditional concerns of running a business. Be it varying viewpoints based on personal objectives, multigenerational issues, financial realities or philanthropic goals, a balance is required to achieve success. The Family Office specialists at WithumSmith+Brown and our Private Wealth Management subsidiary, PWM Advisory Group, can provide the support you need to define and implement the right strategies to meet you and your family’s long-term needs and objectives.

The members of Withum’s Wealth Management Services Group possess the depth and breadth of skills and experience to cover all aspects of your business, including:

ADMINISTRATION

  • Family Office governance, formation, meetings, etc.
  • Family Office charter and/or agreement
  • Organization chart and functions
  • Financial and business education

Our Withum Team has dealt with family offices from those in early formation to those established, set in their direction and well administered.

SERVICES YOUR FAMILY OFFICE MAY BE PROVIDING

  • Investment management and advice, including investment performance analysis
  • Personal services for members
    • Individual tax planning
    • Bill payment, payroll and staff management; including household help
    • Trust and Estate Planning
    • Wealth / inheritance transfer
    • Concierge services
    • Lifestyle advice
    • Security
    • Healthcare
  • Fund compliance, including accounting and tax
  • Risk management
  • SEC compliance for multifamily offices offering investment advice
  • Philanthropy and foundations

While Withum can help you with any or all of the service offerings, we have an established network of professionals that can be particularly helpful with investment management, philanthropy and concierge services. While we provide traditional accounting services, a number of clients have chosen to utilize our Withum Virtual Accounting Services (VAS) to handle basic bill payment and accounting needs.

CONSIDERATION FOR YOUR OPERATING COMPANIES

  • Accounting and coordinating auditing requirements
  • Succession Planning
  • Federal and state taxes
  • Exit planning and execution
  • Transaction Advisory Services related to deal structure and due diligence for new investments
  • Guidance on any “milestone transaction”

These are all areas where Withum has significant experience which can be helpful to you. Our Exit Planning and Execution Strategies and our TransactReady® process are particularly well-suited as you address your operating company needs.

LEGACY MATTERS

  • Dispute resolution among Family Office members
  • Succession planning for the Family Office
  • Coaching / Mentoring / Education for Members of all generations

Whether your Family Office has been our client or you are looking for some fresh insight, our Withum Team that serves Family Offices is well versed in addressing these matters. Using our time-tested strategies or our informal dispute resolution tools, we have been successful in helping Family Offices manage these matters and succeed.

And by the way, we enjoy being part of the family.

Our Team

Hal R. Terr
Hal R. Terr
CPA, PFS, CFP®, AEP®, Partner
Raymond G. Russolillo
Raymond G. Russolillo
CPA/PFS, CFP®, CAP®, Partner 212-829-3214
Ted Nappi
Ted Nappi
The information contained herein is not necessarily all inclusive, does not constitute legal or any other advice, and should not be relied upon without first consulting with appropriate qualified professionals.