“I am not a tax accountant.”
Now that the official Tax Day has come and gone, I think it’s safe to say it will be a few months before those words leave my lips again. Accountants come in all forms – mine happens to be in the form of a Client Service Accountant in the Family Office Services department at Untracht Early. A mouthful, yes – but it often leads to a discussion about my line of work.
People will ask “What exactly is Family Office Services?”
The technical answer is that our department is officially called Family Office & Business Support Services to fully encapsulate the types of clients we serve and the services we provide them with. Our clients include, but are not limited to, high net worth individuals and their families, trusts, estates, foundations, closely-held businesses, and management companies.
To these clients, we deliver a full range of customizable services from bill paying to payroll processing to financial reporting. We can be your personal CFO or simply your outsourced Accounts Payable department. We wear many hats – usually several different ones every day – in order to address the varying needs of each client.
As part of the work we do, we also coordinate with other professionals and trusted advisors such as attorneys, bankers, insurance brokers, and more. This includes working alongside our own assurance and tax departments for several clients. Having these relationships promotes a seamless flow of services for our clients.
Honestly, I could go on and on about the services we provide but the foundation of what we do is built on a relationship of trust. Paying someone’s bills, downloading their credit card activity, reviewing divorce and prenuptial agreements – these are all very personal services and it takes trust to allow someone into your life in that capacity.
To build this trust, we provide exceptional client service. Each client is assigned their own team so they can always reach someone. We are diligent in putting controls in place so the client is comfortable that their information is secure. It’s also imperative that we anticipate needs and communicate potential challenges so that our clients understand that we’re fully invested in their lives.
So what is Family Office Services?
The short answer is that we’re an extension of your family or business providing you with whatever services you need to keep your financial affairs in order.