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Technology providers need to facilitate access to all Investment data. Sitting at the confluence of a multitude data providers your technology solutions need to have the capacity to manage data. Flexibility and access to data is critical and it empowers the family office to view and analyze their total wealth in any way they want, whenever they wan...

The death of a loved one is a difficult and emotional time for a family. There is often additional stress if you are appointed as the executor of the will and trustee of your family’s trusts, especially if the deceased had been the sole manager of substantial family assets and wealth. For an untrained person, it can be a daunting role. For these re...

Based on a FOX Research, the average family office spends about 32 percent of its time on financial administration and reporting. That’s almost 17 weeks a year spent on collecting, verifying, analyzing, and consolidating financial information. For some family offices, these jobs took up as much as 75 percent of their time, which left them with litt...

When done well, a trustee’s service can have a profoundly positive impact on a family; when done poorly, a trustee’s service can create or exacerbate fissures within a family, dissipate family wealth, create personal liability for the trustee, and create a public spectacle that sullies the family’s good name and reputation. For key employees in fam...

While there are many items family offices should look for in technology solutions, one vital component is reporting capabilities. For family offices considering a move to Sage Intacct, there are five reporting advantages you can count on to help deliver the data and transparency that are important to the family members.

Ultimately, how well your wealth transfer plan fulfills your legacy and meets the needs of the next—and future—generations depends on whom you name as your trustee(s). This makes your trustee selection one of the most critical aspects of an already complex wealth planning process. To help navigate this selection process, work with a framework built...

Most small businesses begin their financial lives using Intuit's QuickBooks, but if your business has moved beyond the entry level, your organization may be facing a number of challenges as you hit the limits of QuickBooks’ functionality. With the right framework and guidelines, you can assess the hidden costs of continuing to use QuickBooks along ...

Serving as a trustee for your family can be a valuable experience for you, while also providing an important service to your family. But before you accept the position, make sure that you understand the role you will play for the family and are willing to accept the responsibilities and liability that come with it.

To effectively serve as a trustee, it's crucial to understand your fiduciary duties. Even trustees with the best of intentions can create liability for themselves by being unprepared for the job or by not fully understanding their obligations. Learn more about some of the common mistakes family trustees make that can lead to lawsuits and other...

The onset of remote work and other needs in the family office space have accelerated the pace of growth and change. As a result, family offices are increasingly turning to technology to manage complexity, meet family expectations, and grow their wealth. Amid this change, three trends—including owning your data—will help in the selection of the...

Family offices continue to be the preferred way for ultra-high net worth individuals and families to manage assets and to support the goals and legacy of their family. But with more than 14,000 family offices across the globe facing new challenges and complexities, raising concerns about whether their operating model is providing the transparency a...

Choosing a trustee is a major decision—one that may impact you and your family in many ways for generations to come. Essentially, when you establish a trust for the benefit of others, you are handing down your values through the terms of the trust and your contributed financial assets. And with an increasing number of trusts lasting for multiple ge...

U.S. tax and information reporting obligations have become an increasing concern for international families and their succession planning structures. Missed or late filings can result in steep penalties, even when no tax is due. The Foreign Account Tax Compliance Act (FATCA) is alerting the Internal Revenue Service (IRS) to income and accounts held...