Family offices

Family Office of America's Maryland subsidiary acquired Maryland-based CPA firm Toone & Associates — the latest example of family offices entering the accounting space.

Family-office-backed accounting firm platform Elevate announced its acquisition of San Mateo, California-based Gilmore Advisors, which was effective Sept. 1.

Chicago-based CPA firm DSWD received an investment from 119th Street Capital, a family office based in Indiana that invests in privately owned financial service firms.

Elevate, a new family office-backed platform firm, made its first acquisition with TYS Advisors, effective Aug. 1.

Windsor Path, a family office-backed platform for accounting firms, acquired WFFA Advisors, the non-attest business of Wagner, Fiber, Fine and Ackerman in New York City.

A diverse range of financial investments and assets adds another layer of complexity for accountants working with family offices.

For accountants with clients with multiple entities, one of the biggest bottlenecks is in multi-entity consolidation, especially family offices. How can you, as their trusted advisor, help combat the issue?

Whether your firm has a vibrant wealth management division or not is irrelevant when it comes to offering family office services: Consider it outsourced CFO work, except for a family rather than an entity.

Nepsis, a Minneapolis-based financial advisory and investment management firm, has acquired Sevenich, Butler, Gerlach, & Brazil, a tax, accounting and consulting firm in Saint Paul, Minnesota.

With residency, luxe living and low taxes mere table-stakes, the availability of trained staff to help the ultra-rich run their lives and their money has become a key battleground.

The next generation of the ultra-rich say they're ready for succession. The executives responsible for managing families' fortunes aren't so sure.

Serving a single family can be a complex — but profitable — niche.

Clients need to start planning for a potential sale of their business now.

It’s important to have intergenerational conversations with clients and their families.

It pays to be a senior executive in a U.S. family office. Private investment firms of rich families there have the greatest number of C-suite executives making more than $396,000 a year.

Could your accounting firm thrive as a multifamily office?

If you have wealthy clients who need these kinds of services, it can be a gold mine for CPAs, according to John Napolitano.

Speak to a few family office experts, and you’ll hear the phrase, “When you’ve seen one family office, you’ve seen one family office.” But press them on common errors, and they have a lot to say.