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| Dedicated Family Office |
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Silver Bridge Family Office Partners can serve as a dedicated and fully integrated
family office for families who do not wish to establish their own or maintain an
existing family office. Our comprehensive service offering provides a centralized
resource to help address any and all personal and financial affairs, even if there
are a myriad of advisors already in place.
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This solution is for a family who seeks
to have the many benefits of having their own family office, but does not wish to
take on the burden of hiring, managing and retaining staff. This option also allows
a family to design their family office in a manner that they want, while tapping
into the knowledge Silver Bridge Family Office Partners has gained from more than
80 years of working with like minded, multi-generational families.
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EXPANDING A FAMILY
OFFICE’S CAPABILITIES |
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An established family office serving a multi-generational family with assets of $60 million, with the majority of assets in trusts.
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The family office was thinly staffed and sought a partner with a flexible range of services to:
- Alleviate the administrative and time burden of partnership accounting and tax preparation, reporting, managing alternative investments (i.e. capital calls), and coordinating multiple external advisors
- Generate clear and comprehensive set of reports across all of its investments, including its large allocation in alternative investments
- Help the family office adopt best practices in overall risk management
- Optimize limited resources by outsourcing specific functions to save money and improve employee satisfaction by refocusing responsibilities on value-added services
- Work closely with legal advisors to help the family office significantly restructure legal entities for estate and tax planning purposes.
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Silver Bridge Family Office Partners worked closely with the family office to develop some innovative solutions to its various challenges:
- Partnership accounting for a number of investment entities
- Consolidated reporting and monthly performance reporting for all client investments, including a large number of private equity investments, through its state of the art technology and reporting infrastructure
- Investment consulting, including asset allocation, research on the market, research on specific securities, and external investment managers.
- Creating a document storage and organization system was created to maintain all relevant financial documents in an organized manner, accessible through an on-line portal.
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Collaborating with Silver Bridge Family Office Partners is expected to provide the family office with significant time savings and a clarified view of all of its assets. The family office will be able to make better informed investment decisions with a tax-sensitive approach. In addition, it can provide more proactive wealth planning advice to the end-client, the family members.
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