Plumb Family CFO Asks: Who’s Managing your Wealth?

Written by

A top priority for affluent families is managing wealth.

To make things clear, Plumb Family CFO does not provide services that manage wealth or advise on investment strategies. Plumb Family CFO works with their client’s personal financial team to provide an accurate view of wealth through consolidated reports and financial statements.  Consistent communication with the family’s professional advisers leverages their total expertise and provides a backdrop to make better financial decisions to sustain wealth.

family office services

In this article, written by Tony Robbins for MarketWatch, he gives his opinion on how to take charge of your money and managing wealth by knowing the difference between a financial adviser, broker-dealer and an independent registered investment adviser.  Go to Tony Robbins person website >> here

Managing Wealth: Considerations for Choosing a Financial Adviser

These statements are taken from a series of articles written by Tony Robbins who explains how to improve investment and personal-finance skills. Managing wealth is a complex topic and by knowing the answers to these questions it will help you learn the financial system better.

  1. What’s the difference between a Financial Adviser, Wealth Manager, or Investment Consultant vs. Registered Investment Adviser?
  2. Does the investment firm have an affiliation with a Broker-Dealer?
  3. Does the firm offer proprietary mutual funds or separately managed accounts?
  4. Does the firm receive any third-party compensation for recommending particular investments?
  5. Where is the money held?
  6. Does the firm offer any financial planning services beyond investment strategy or portfolio management?

Managing wealth can include various tasks outside of financial planning and investment.  This is where Plumb Family CFO can help by handling personal accounting services not provided by the client’s CPA or family office.  Read: “Top Ways that Plumb Family CFO Works with Trusted Advisers”

Plumb Family CFO Provides:

Gain Financial Peace of Mind with Plumb Family CFO.  For more information…

Landing Page Contact Form

Related Posts:

 

 

Tax Deduction Survey for Tax Season

Written by

Take the Tax Deduction Quiz!

Just in time for tax season

Do you think you know what qualifies as a tax deduction?  Here at Plumb, an outsourced accounting firm in San Diego and Orange County, we have a full team of accounting professionals who organize our client’s financials to get prepared for filing tax returns.  We are not a CPA firm, rather a company that supports businesses and high-net-worth families with their part-time and outsourced accounting needs.

Whether you are a CPA, tax professional, accountant or simply handle your own personal tax returns, test your knowledge with this quiz!

 >> Tax Deduction Quiz! <<

Plumb works in partnership with our client’s CPAs to handle all the preliminary tax work for year-end.  With our customized 7-Step Process, Plumb delivers an Annual Tax Organizer, consisting of a one-page tax summary sheet outlining information sent to the CPA.  With our pre-tax accounting services, it ensures accurate record-keeping, and reconciliation of all asset accounts.  For more information on our Annual Tax Organizer, click here.

Pre-Tax Accounting Services:

  • Tracking and recording 1099’s,
  • Tracking and recording charitable contributions
    • Any contribution over $250 must have a letter or receipt
  • Tracking and recording medical expenses
  • Tracking and recording sales of stock
    • Enter gross proceeds and gross cost basis
  • Record and calculate Gross Distribution, Taxable amount and taxes withheld from Wages, Pensions or Gambling Winnings
  • Re-classify income per 1099
  • Verify 1099-G; money received from State & Local Tax Refunds

If you want to experience financial peace of mind this tax season, Plumb is here to help.  

Landing Page Contact Form

 

Personal Concierge Services for the Frequent Traveler

Written by

Are you ready for your summer vacation?

Luxury travel and relaxation is a top priority for many of our Family CFO clients.  With their extended stays away from home, many entrepreneurs and affluent families have a lot of responsibilities to keep organized. At Plumb Family CFO, our goal is to add simplicity and clarity to our clients’ financial lives. This gives them peace of mind while traveling the globe.

Our personal concierge services can be customized to meet the needs of any situation, with a wide range of projects and oversight. Client’s can take a long-term summer vacation and not have to worry about missing a bill or paying their household staff.

Personal Concierge Services:

  • Calendar Management
  • Bill Pay
  • Mail Services
  • Payroll for Household Staff
  • General Errands

“As a long-term client, I count on Plumb Family CFO to not only help organize my financial life, but also take care of other personal tasks.”

Frequent Traveler Case Study:

Background:

A successful business owner, actively engaged in day-to-day operations, begins traveling the world on a more regular basis.

Personal Concierge Services Provided by Plumb Family CFO:

  • Calendar, email and personal files were set up virtually to allow shared access at anytime
  • Event and travel calendar were kept up-to-date
  • All requests for donations, appointments and investment opportunities were initially screened by Plumb
  • Processed payroll for household employees
  • Handled HR duties for household employees
  • Created financial calendar of due dates and paid bills
  • Bank and credit card reconciliation

Outcome:

  • Well-organized calendar, with no event or meeting conflicts
  • Client spends less time searching through emails and proposals
  • Bills are paid on time
  • Peace of mind – more time to enjoy life and take care of business priorities

Read More: Frequent Traveler Case Study

Ready to Simplify your Life and Take Advantage of Personal Concierge Services?

Landing Page Contact Form