We perform more than accounting services.
Though GRR Family Office was established by an accounting firm, we perform much more than just accounting services. Our extensive client base and experience with multiple high wealth families has provided us with expertise in planning and compliance for high net worth clients. The services we perform range from insurance review and coverage; cash flow planning; yacht and aircraft structuring, compliance and operations; estate plans, wills and trusts; employee staffing and payroll benefit coordination; foreign asset and currency management, and much more.
Our fees are not based on net worth.
Many multi-family offices are associated with investment firms and base their fees on the net worth of the client, as they would for the management of their investments. We prefer to establish fees based upon the complexity of the engagement and our time to perform the needed services. As each client is individually unique, so are the resources to meet their needs. Therefore, although the net worth of two families may vary dramatically, their fees may be similar based on their individual needs.
Our Boca Raton location may help with establishing domicile.
A large portion of our families are trying to establish domicile in Florida, and one way to help accomplish that is to have service providers in Florida. As many families have already established relationships in other states with investment advisers and legal counsel, they may not to want to change. Therefore, a convenient option is to relocate their family office accounting needs to Florida. Any new legal situation unique to Florida could be referred to a legal counsel in Florida as well. These can be steps followed in assisting families establish a basis for verifying the legitimacy of their Florida homestead and domicile.
No solicitation of business.
GRR Family Office is discrete, and we do not disclose our clients to market our services. New clients are obtained through personal referrals. Our reputation speaks volumes and personal referrals provide us with a client base that both understands the needs and the services that we provide to them.
Continuity of business.
GRR Family Office has been formally established for over 10 years’. GRR has been in business for over 40 years and has earned a reputation that resounds in our community. This means we continue to attract top talent and can maintain an experienced and dynamic team with an outstanding rate of employee retention. In addition, our adherence to accurate, timely and service-oriented work has resulted in sustained growth over the years.
Stringent internal controls.
Because GRR Family Office is a division of a public accounting firm, we are cognizant of maintaining internal controls for segregation of duties, confidentiality, control over financial information, and access to funds.
Objectivity is maintained.
GRR Family Office prides itself on maintaining independence and objectivity on behalf of our families. No associations or arrangements with the various service providers have been or ever will be established. There are no benefits or compensation derived from referrals received or given.
Tax expertise in high wealth families.
GRR Family Office has many high wealth individuals for whom we perform tax preparation. As families often have very complex tax issues and various state and local filing requirements, we can provide you with the expertise of a certified public accounting firm with the ability to offer extensive knowledge and experience with tax planning and compliance. As a family office, we can evaluate each unique opportunity before a transaction is executed to establish the best tax, wealth transfer, or operational strategy to ensure an optimal structure. Additionally, we are experienced with issues that frequently arise for high net worth families, such as estate planning, asset protection, insurance and liability issues, multiple residences, private yachts and aircraft, philanthropic planning, generational concerns, and a variety of other issues.
Our priority is to assist the families in gathering their various investment information into one place and showing them the monthly, annual and since inception performance of their various investments. We consolidate the information into a concise and meaningful report that shows the client their overall performance results and true asset allocation. We find that the consolidation of the investments assists the client in reviewing their overall picture and provides them with a clear idea of where they have been and where they are going.
We do not advise on investments.
GRR Family Office is not a registered investment advisory firm; therefore, we do not direct the investments of our families. We do assist our families in reviewing proposals and asking the “hard questions.” However, it is the client’s obligation to perform the due diligence with the investments and determine for themselves whether or not they want to be involved with the various investment vehicles and products.
GR Reid Family Office Services, LLC is not a registered investment advisory firm; therefore, we do not direct the investments of our families. We do assist our families in reviewing proposals and asking the “hard questions.” However, it is the client’s obligation to perform the due diligence with the investments and determine for themselves whether or not they want to be involved with the various investment vehicles and products.