Family Office Consultant
CurrentResponsibilities vary from client to client, but generally are as follows:Investment collaboration – Monitor all investments; research and prepare concise briefs on current and proposed investments for client’s ultimate review and decision; complete subscription documents; track capital call schedules and stock basis from venture capital fundsMaintain financials – Input and update financial software for personal and business activities; coordinate billpay; track tax basis in various investments, gather documentation and estimates to streamline tax preparation; monitor and categorize income statement flows and debt obligationsTax preparation – Gather all tax forms including 1099s, K-1s, and substantiation for deductions; maintain running list of open items and necessary forms; coordinate with existing CPAs to streamline documentation process; or be engaged to prepare tax returns to be reviewed and signed by existing CPA firm, significantly reducing tax preparation cost for sizable returnsStructure analysis – Summarize pro’s and con’s of various entity structure work such as a family limited partnership, special needs trust, limited advisory trust, or personal foundation; administer the same should any be created Philanthropic coordination – Track charitable commitments; review potential giving opportunities; advise on character of donation to maximize tax benefitsStreamline documentation – Organize all hard copy and electronic financial documentation; maintain, monitor and backup electronic records; implement encrypted password protectionFiduciary commitment – Communicate opinions, findings, and feedback clearly and candidly to provide clients full transparency as to my work and my conclusions; safeguard client confidentialityDeliverables Monthly financial dashboard Briefs containing summarized investment and philanthropic ideas Quarterly financial performance summary and cash flow analysis Prepare quarterly tax estimates
