AT A GLANCE

CHALLENGES

Unclear financial picture

No balance sheet prepared

Needed net worth overview

Required cash flow analysis

Objectives

An ultra-high-net-worth business owner

This client did not have a clear idea of his financial picture. He had never had a balance sheet prepared and needed a clear picture of his net worth and cashflow.

Solutions

This client now has clarity and financial peace of mind through cash flow reports, comprehensive financial and investment reporting and more. At Plumb we gave controller level insights that we apply to HNW and UHNW families.

Plumb’s ongoing engagement includes the following:

• Prepare and administer a financial calendar of due dates
• Property reporting for each property that the client owns
• Send a comprehensive list of bills for approval of payment
• Provide monthly financial statement with Net Worth and Profit & Loss statements
• Oversee excess cash to be transferred to investment accounts
• Implement a document management site to ensure remote access to important documents by the Client and his trusted advisors
• Administer payroll for household staff
• Tracking of all expenses

Between bill pay services and a financial reporting, this client expressed that it has been excellent to have Plumb as their Family Office Accounting team. This UHNW individual is pleased with his experience and the value he has gained from working with Plumb. Our high-touch, high-tech personal bill pay and accounting services are custom designed to meet the needs of our high-net-worth clients. Our commitment to serve you, our customers and partners, remains our first priority. Our stance when it comes to serving you, our customer, is centered on stewardship of your day-to-day financial health.