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| Expanding a Family Office’s Capabilities |
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| Client |
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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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| Need |
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The family office was thinly staffed and sought a partner with a flexible range of services to:
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- 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 Solution |
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Silver Bridge worked closely with the family office to develop some innovative solutions to its various challenges:
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- 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 to maintain all relevant financial documents in an organized manner, accessible through an on-line portal
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| Outcome |
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Partnering with Silver Bridge 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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Advantages Offered by
Silver Bridge |
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- An integrated approach as well as a breadth and integration of capabilities, which includes investments, accounting, tax and philanthropic advisory
- An 80-year history of helping successful families, capital strength, stability, and commitment to the family office marketplace, offering the family office a long-term trusted partnership that will enable it to continue effectively serving family members
- Experience working with trusts and coordinating with external advisors (including a myriad of CPAs and attorneys), which will assist the family office in its planned restructuring of legal entities and structuring of wealth transfers to future generations
- A proposed retainer fee that will allow the family office to accurately budget its resources and to redeploy staff in other value-added directions
- Silver Bridge’s ability to act as an extension of the family office and to help the business become more efficient and sustainable
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