There are numerous reasons people choose to outsource their personal financial management and oversight to a family office. Among them, peace of mind, extra care and freeing up your time rank high.

However, another reason to employ a family office to oversee your personal financial life is the added level of expertise and knowledge of a professional.

Here are our top three benefits of a family office:

Holistic Approach to Asset Management

With an in-depth knowledge of the client’s entire financial life, a family office is able to properly advise and service the clients on all levels of their asset management. This can include investment management and oversight, tax and estate planning, returns preparation, and also day-to-day administrative tasks such as cash flow management and bill-pay. A family office can use their comprehensive understanding of a client’s financial life to be able to offer practical advice that meet each client’s specific needs.

Wealth Education and Oversight

A family office can meet with the client and their family members to educate younger members about responsible financial management behaviors. A family office also prepares monthly balance sheets and reports to give their clients insight into their net-worth, spending habits and personal income. 

Transition planning for the next generation

Family offices can help a client create and execute trust and estate plans. They can review existing trust documents and estate plans and educate family members to fully understand them. This is extremely important so that there are no surprises in the event of illness or death of a family member.

Tailored Service

Finally, the greatest benefit of the family office is the personal touch and understanding of the family dynamics. We are not just an outside third-party looking at the cold facts of your asset balance sheet. We understand both the tangible and intangible items relevant to your financial lives and will tailor our services to meet your needs.

To learn more about Bernath & Rosenberg’s Family Office Services, please email or call 212.221.1140 Ext. 150 and speak to Chana Striks, CPA.

Subscribe To Our eNewsletter

Subscribe To Our eNewsletter

Join our mailing list to receive the latest news and updates from Bernath & Rosenberg.

We promise not to send you too many emails and will only contact you when we feel you would benefit from the message.

Thank you for subscribing!