Plumb Interview with The Deal

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We are excited to announce that our Executive Vice President, Anneke Stender, recently sat down with The Deal’s Chris Nolter to discuss Think Plumb LLC’s remarkable growth and future outlook.

View the full article here: 2025 The Deal Plumb Interview.

Link to article on The Deal website.

Founded in 1996 by President Robert Scherer, Think Plumb has evolved into a premier high-touch, services-first fintech company specializing in financial management for high-net-worth individuals and family offices. With a workforce of 50 employees and an annual revenue ranging from $8 million to $10 million, Think Plumb continues to experience double-digit growth, positioning itself as a leader in the financial management space.

Managing Financial Complexity with High-Touch Services

Think Plumb is uniquely positioned to help affluent clients manage the complexities of wealth, including multiple residences across different states, trusts, LLCs, foundations, and other entities.

“We call it the blocking and tackling that needs to happen around the family,” Stender explained. “Our clients require specialized accounting services, from property tax management and insurance payments to real-time financial reporting.”

Leveraging Technology for Real-Time Financial Insights

Recognizing the growing need for seamless and intuitive financial management, Think Plumb has invested in building out its proprietary technology platform, the Plumb Bill Pay App. The platform integrates bill approval, payment automation, and real-time reporting capabilities, ensuring clients have an interactive, forward-looking view of their financial health.

“Historically, accounting has been very backwards-looking,” Stender said. “Now, we’re really moving toward real-time reporting, interactive insights, and even projections within our tool.”

A Growth Trajectory with Expanding Market Opportunities

Plumb’s primary clientele typically consists of individuals with a net worth between $50 million and $400 million, including five billionaire family offices. However, the company is looking to expand into a new demographic of emerging high-net-worth individuals—those with a net worth of $1 million or more—who require sophisticated financial tools and bill payment services.

While 90% of new business comes from referrals, Plumb is continuously exploring new opportunities to enhance its reach and impact. With the addition of a Chief Technology Officer last year, the company is advancing its fintech capabilities while maintaining the high-touch, white-glove service that has made it a trusted partner for affluent families.

Open to Strategic Partnerships

As Plumb scales, the company is open to strategic partnerships that align with its vision for innovation and growth.

“We’re certainly open to strategic partnerships as we continue to grow in this space,” Stender noted. However, there is no defined timeline for taking on an investor or partner.

A Unique Approach in Fintech and Financial Management

Plumb stands out in the financial services industry due to its seamless blend of high-touch services and innovative financial technology. The firm’s approach ensures that clients receive both personalized attention and cutting-edge solutions for managing their financial complexity.

The broader fintech and wealth management industry has seen increased investment activity from major financial institutions. Recent investments include:

  • Blackstone Inc. (BX) leading a $61 million investment in AI accounts payable automation company Sampli.
  • BlackRock Inc.’s (BLK) Aladdin Wealth unit forming a partnership with NEC Corp.’s Avaloq.
  • JPMorgan Chase & Co. (JPM) and Hercules Capital Inc. (HTGC) investing $150 million in payables automation company Tipalti.

While investment and acquisition activity in fintech and financial/wealth management continue to accelerate, Plumb remains focused on expanding its services and technology to better serve its clients.

Looking Ahead

As Plumb continues its upward trajectory, the company remains committed to innovation, client service, and growth. By enhancing its proprietary technology, expanding service offerings, and strategically scaling its team, Plumb is well-positioned to meet the evolving needs of high-net-worth individuals and family offices.

Future initiatives include further integrating predictive financial analytics, improving user experience within its platform, and expanding its reach to serve a broader spectrum of clients. With a clear vision for the future, Plumb is dedicated to setting new industry standards and delivering unparalleled financial solutions.

Stay tuned for more updates as we continue to shape the future of high-net-worth financial management.

For inquiries or to learn more about how Plumb can support your financial needs, contact us today!

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Plumb Bill Pay Wins Best Payment Reconciliation Services Award 2025

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We’re proud to announce that Plumb Bill Pay has won Best Payment Reconciliation Services provider at the 4th Annual WealthBriefing WealthTech Americas Awards 2025! Additionally, we’ve been featured (pages 36-37) in their 4th Acclaim Publication, recognizing and underscoring our commitment to delivering best-in-class, high-touch financial services for high-net-worth (HNW) individuals, family offices, and their advisors.

View the full press release here: Plumb Bill Pay WTA Press Release Awards 2025

Driving Innovation with the Plumb Bill Pay App

At Plumb, we adapt to meet our clients’ evolving needs. Our blend of technology and expertise ensures a seamless financial experience. A major factor in our success is the Plumb Bill Pay App, which simplifies financial management by offering:

  • Clear Financial Oversight – A complete financial snapshot at your fingertips, with an easy-to-use dashboard that tracks payments, approvals, and priority bills.
  • Effortless Approvals – Approve or reject bills with a single click, set auto-approval limits, and streamline workflows.
  • Advanced Cash Flow Forecasting – Stay ahead with six-month cash flow projections based on committed expenses, ensuring financial stability.
  • Simplified Tax Prep – Gather, review, and organize tax documents effortlessly, making CPA handoffs seamless.
  • Unparalleled Security & Accessibility – Our app provides bank-level security while ensuring clients can manage their finances anytime, anywhere.

This award-winning combination of industry expertise and cutting-edge technology ensures that our clients receive a seamless, secure, and highly efficient financial management experience.

What Sets Plumb Bill Pay Apart?

Our success comes from a powerful combination of expertise, innovation, and exceptional service:

  • Industry Expertise – Specializing in transactional bill pay for HNW and UHNW clients since 2008.
  • Cutting-Edge Technology – Our proprietary Plumb Bill Pay App streamlines approvals, tracking, and forecasting.
  • Security & Compliance – Bank-level security ensures financial data is protected at all times.
  • Expert Team – Highly trained professionals dedicated to accuracy, efficiency, and personalized service.

Looking Ahead

As we continue to evolve, refine, and enhance our services, we remain dedicated to delivering seamless financial solutions to our valued clients.

Thank you to our clients, partners, and the WealthBriefing WealthTech Americas Awards for this recognition. Here’s to another year of growth and innovation!

Want to experience the Plumb Bill Pay difference? Contact us today!

Plumb Bill Pay Shortlisted for Three Prestigious PAM Awards

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We are delighted to announce that Plumb has once again been shortlisted for the highly respected 2025 PAM (Private Asset Management) Awards. This year, we are honored to be recognized in three categories:

  • Best General Ledger System
  • Best Partnership Accounting System
  • Best Technology Platform for Family Offices

We extend our warmest congratulations to the other nominees who continue to drive innovation and excellence in our industry. A heartfelt thank you goes to the team at WithIntelligence and the PAM Awards for this incredible recognition.

At Plumb, we remain dedicated to providing financial clarity and seamless accounting services, empowering our clients to make informed decisions with confidence. This honor inspires us to continue exceeding expectations and setting benchmarks for the industry.

Stay tuned for the awards results, and thank you for supporting Plumb on this exciting journey!

Discover how Plumb Bill Pay consistently delivers best-in-class service below:

Financial Scams Targeting Wealthy Individuals: How Plumb Bill Pay Can Help

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With wealth comes the added risk of becoming a target for financial scams. Wealthy individuals are often targeted due to their substantial financial resources, making the potential payoff for scammers significantly higher. Understanding how these scams work and recognizing the warning signs is crucial to protect oneself from financial fraud. This article explores common financial scams targeting affluent individuals and how Plumb Bill Pay can be an effective tool in recognizing and preventing these fraudulent schemes.

 

Common Scams Targeting Wealthy Individuals

  1. Investment Fraud: Scammers often prey on high-net-worth individuals with promises of exclusive, high-return investments. These can include Ponzi schemes, fake hedge funds, or fraudulent real estate deals. The allure of high returns can be irresistible, leading some to overlook warning signs.
  2. Phishing Schemes: Wealthy individuals are frequently targeted with sophisticated phishing attacks. Scammers use fake emails, texts, or phone calls that appear to come from trusted institutions, attempting to trick individuals into providing sensitive information or access credentials.
  3. Romance and Grandparent Scams: High-net-worth individuals are not immune to romance or grandparent scams. Scammers exploit emotional vulnerabilities by creating fake online personas or by posing as grandchildren or family member(s) to build a relationship, eventually manipulating victims into transferring money.
  4. Business Email Compromise (BEC): In BEC scams, attackers gain access to business email accounts and impersonate executives or trusted partners. They then issue fraudulent payment instructions to employees or business partners, often leading to significant financial losses.
  5. Impersonation and Social Engineering: Scammers may impersonate bank officials, lawyers, or other trusted figures to manipulate wealthy individuals into divulging personal information or making unauthorized transactions.
  6. Tech Support Fraud: Tech support scammers lure victims through misleading phone calls, emails, text messages, or online pop-up windows. They claim there is a security flaw or another issue with your computer and offer assistance to fix it. Subsequently, they request personal information, payments, or remote access to your computer.

Our Cybersecurity and Information Security Manager, Jim Server, says that “It is imperative, now more than ever, to increase awareness and implement proactive strategies to aid both our team and clientele with knowledge on how to keep their information secure.” Jim continues, “Our goal is to stay one step ahead of scammers and their threats by combining advanced tools with preventive measures and ongoing education for our team and clients.”

It is always a best practice to be vigilant for common scams which often appear when least expected. We recommend the following strategies to help prevent scams:

Strategies to Prevent Scams

  1. Due Diligence: Conduct thorough research before investing. Verify the credentials of financial advisors and the legitimacy of investment opportunities.
  2. Secure Communications: Use encrypted and secure communication channels for sensitive transactions and information sharing.
  3. Regular Monitoring: Regularly review account statements and financial transactions for any unauthorized activity.
  4. Use Strong Authentication Methods: Implement multi-factor authentication for email and financial accounts using an authentication app like Google or Microsoft authenticator in place of simple text messages (SMS), which can be easily compromised.
  5. Report Suspicious Activity: Report any suspected fraud to relevant authorities immediately.

 

How Plumb Bill Pay Can Help

At Plumb Bill Pay, our team is wholeheartedly committed to ensuring that our clients feel safe and secure when managing their finances. We understand that in today’s world of increasingly sophisticated financial scams, safeguarding your assets is of paramount importance. That’s why our dedicated professionals work tirelessly to guarantee our clients feel confident in our services through advanced fraud detection and robust security measures. Our team is always available to offer personalized support and guidance, helping clients stay informed and vigilant against potential threats. With Plumb Bill Pay, you can trust that your accounts are protected by cutting-edge technology and a dedicated team that prioritizes your financial safety, ensuring that you are always in good hands.

Plumb Bill Pay incorporates the following practices in efforts to prevent financial scams for our clients:

  1. Automated Payment Monitoring: Plumb Bill Pay automates the bill payment process, ensuring that payments are made on time and according to established routines. This reduces the risk of falling for fraudulent payment requests since all transactions are processed through a secure and monitored system.
  2. Enhanced Security Features: With Plumb Bill Pay, payments are processed through a secure platform that uses encryption and multi-factor authentication to protect sensitive information. This added layer of security helps in thwarting phishing and impersonation attempts.
  3. Clear Audit Trails: The platform provides detailed records of all transactions, making it easier for individuals and their financial advisors to track and verify each payment. This transparency is crucial in identifying and investigating suspicious activities.
  4. Integration with Plumb Bill Pay Team: Our team is here to help facilitate a collaborative approach to managing and safeguarding financial assets.

As financial scams become increasingly sophisticated, it’s essential for wealthy individuals to be proactive in protecting their assets. The Plumb Bill Pay team offers robust solutions that not only simplify the bill payment process but also enhances security and provides valuable tools for detecting and preventing fraud. By leveraging the advanced benefits of Plumb Bill Pay, affluent individuals can safeguard their financial well-being and stay one step ahead of scammers.

Discover the Plumb Advantage: Contact us at sales@thinkplumb.com to explore how Plumb’s expertise can elevate your bill pay and accounting experience. Let us tailor solutions to meet your unique financial goals, providing the specialized attention your wealth deserves.

Time is Money: The Power of Bill Payment Apps

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Traditionally, bill payment involved manual processes, requiring individuals and advisors to gather bills, write checks, and track payments meticulously. For HNWIs with complex investment holdings, this means dedicating considerable time and resources to monotonous administrative tasks.

 

Enter bill payment apps, which have transformed the landscape by offering intuitive platforms that centralize and automate the entire payment process. These innovative platforms are revolutionizing the way HNWIs and their advisors handle financial obligations, introducing efficiency and automation into a previously cumbersome process. These apps allow users to aggregate bills from various sources, including utilities, credit cards, mortgages, and subscriptions, into a single dashboard. Through secure integrations with bank accounts and financial institutions, bills are automatically retrieved and presented for review, eliminating the need for manual data entry.

 

The Plumb Bill Pay app is the perfect example of a game-changing app, and was developed and built exclusively by Plumb to address the issues and challenges faced by our high-net-worth clients and their advisors.

 

Here’s how bill payment apps, and the Plumb Bill Pay app in particular, save HNWIs and advisors precious hours:

  • Streamlined Workflow: Bill pay apps automatically categorize, prioritize, and schedule bills for payment. This ensures timely settlements without the need for constant oversight, eliminating countless hours spent on paperwork and data reconciliation. Additionally, these apps offer customizable alert systems, notifying users of upcoming due dates, payment confirmations, and unusual activity, thereby enhancing transparency and security.
  • Enhanced Visibility: Gone are the days of scrambling for missing invoices or chasing down overdue payments. Bill payment apps provide real-time visibility into spending patterns and cash flow dynamics, offering personalized insights and recommendations, empowering users to make informed financial decisions. {Read about the Plumb Bill Pay app Commitments module and how it provides clarity and insights.}
  • Reduced Errors: Manual processing is prone to human error. Bill payment apps minimize the risk of mistakes with automated payments, ensuring accuracy and timely payments.
  • Improved Security: Traditional paper-based systems are vulnerable to fraud and theft. Bill payment apps offer robust security measures such as multi-factor authentication and encryption, to safeguard sensitive financial information. {Learn more about just some of the ways Plumb provides the most stringent digital security here.}
  • Advisor Efficiency: For financial advisors, managing bill payments for multiple clients can be a time-consuming burden. Bill payment apps allow advisors to delegate and automate tasks, freeing up their time to focus on strategic financial planning and client relationships.

 

Bill payment apps have emerged as indispensable tools for HNWIs and their advisors, offering unparalleled convenience, efficiency, and security in managing financial transactions. By streamlining the bill payment process, these platforms liberate valuable hours that can be redirected towards more productive endeavors, ultimately empowering individuals to achieve their financial goals with confidence and peace of mind.

 

5 Reasons Why Pricing Transparency Matters to High-Net-Worth Clients

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A common misconception about affluent people is that they don’t worry about their expenses. On the contrary, not only do they worry about the entirety of their financial picture – costs and spending included – but many of them like to be intimately involved with the management and strategy surrounding their wealth. Perhaps most importantly, these clients need to feel that they can trust the people they work with to provide not only accurate and timely information, but also the security and confidentiality they require.

Nobody likes surprises when it comes to expenses, and high-net-worth individuals are no exception. These clients want to understand the pricing of services upfront. Providers will lose a lot of trust and credibility if they hide fees or sneak in any “gotcha” charges.

When reviewing pricing – and the value of the services you provide – with high-net-worth clients, it is crucial to be straightforward and open about any costs they might incur.

Here we list the top 5 reasons why pricing transparency matters to HNWI clients – and why it should matter to you.

Reason #1: Confidence

Pricing transparency helps build trust and confidence in the client and outsourced provider relationship by demonstrating openness and honesty. When clients understand what they are paying for and why, they are more likely to have faith in their advisors. This in turn can pave the way for a long and successful working relationship.

Reason #2: Clarity

Clarity is a vital aspect of any type of communication and with any relationship – especially one in which you are trying to build trust. When well-defined and transparent pricing information is provided, your clients (or prospective clients) will have a clear understanding of your costs so that they can better evaluate your services. There should be no hidden fees or surprises. When the cost of the services you charge for is clear, you help to eliminate any misunderstandings while strengthening your relationship with your clients.

Reason #3: Comparison

Part of evaluating any new service involves speaking with different providers and gaining an understanding of who they are, what they provide, and what value they offer. Without knowing precisely the cost of these services, it is impossible to compare the different options accurately. Additionally, providing context around industry standards and benchmarks related to your costs can be tremendously helpful. (Even if your costs are higher than the industry standard – this is your opportunity to explain why you charge a premium.)

Reason #4: Conflict {Avoidance}

Transparency in pricing can help mitigate conflicts of interest in the wealth management industry. When clients know how their advisors and service providers are compensated, they can better assess whether any recommendations are driven by their best interests and not by financial incentives. When advisors and service providers are transparent in their costs it can reduce the likelihood of any recommendations that benefit them more than their clients. It also brings peace of mind to the client knowing that their best interests are the only elements factored into proposals and suggestions.

Reason #5: Loyal Clients

Proving clear, transparent, and easily understood pricing to high-net-worth clients also contributes to the stability and longevity of these relationships. When clients feel that they are treated fairly and that their advisors and service providers are upfront about costs, they are more likely to remain loyal clients and refer their peers. (And who doesn’t love a solid referral?)

At the end of the day, high-net-worth clients would like to understand exactly what services will be provided and exactly what the cost will be. Being upfront and providing clarity in costs will help to establish a strong foundation of trust for a long-term, successful relationship.

Get the Financial Clarity and High-Touch Support You Need: Contact us at sales@thinkplumb.com to explore how Plumb’s expertise can elevate your bill pay and accounting experience. Let us tailor solutions to meet your unique financial goals, providing the clarity and specialized attention your wealth deserves.

 

Plumb Bill Pay App: Digital Dashboards

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Navigating the complex financial landscape of high-net-worth individuals can be like piloting a yacht through dark and uncharted waters.

Their financial complexity arises from a mix of substantial, diverse assets, complex investment strategies, and significant monthly expenses. For these individuals, having a clear and organized view of their income sources and expenditures each month is essential. Without this transparency, making informed and strategic financial decisions becomes exceedingly challenging.

This is where the importance and benefits of digital dashboards come into play.

What are digital dashboards?

Digital dashboards are a user-friendly way to present data and financial information. They provide high-net-worth clients and their advisors with an uncomplicated way to check their financial performance while offering the option to drill down into the details of specific entities, assets, or expenses – anything that the client or their advisor is interested in seeing in greater detail.

Why use a digital dashboard?

There are many benefits to utilizing digital dashboards – especially for HNWI. We have listed the top five benefits here:

  • Clarity: Provides a clear overview of wealth that allows clients and advisors to visualize total assets, liabilities, cash flow, and net worth. (The dashboard on the proprietary Plumb Bill Pay App also provides a balance snapshot and a list of upcoming payment commitments.)
  • Convenience: Gives the client and advisor the convenience of real-time updates, removing the concern of looking at data that is already outdated.
  • Access: A mobile app, like the Plumb Bill Pay App, delivers access to financials on the go – anytime, anywhere.
  • Customization: Offers personalized and customized data and reporting so the client can see precisely what they want and need to see – the information that is most important to them. This customization eliminates the need for clients and advisors to pick through data they do not want or need, and it eliminates the need for them to request additional data that has not been provided.
  • Comprehension: Presents financial data in an easy-to-understand layout making the essential information clear and accessible for all levels of financial expertise.

Digital dashboards cut through the complexity of HNWI finances, offering instant clarity and streamlined management. Their visual data formats empower clients and advisors to see the flow of money, make informed decisions, and maximize wealth.

With Plumb you can have access to your bill pay data – anytime, anywhere. Contact us at sales@thinkplumb.com to learn more about our bill pay app and how Plumb can help you and your clients focus on the big picture, while we focus on your bill pay and accounting needs.

plumb digital dashboards

Bill Pay Freedom for HNWI Clients: 5 Steps to Choosing the Right Bill Payment Service

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As a financial advisor, you understand the time and stress your HNWI clients face managing their complex financial affairs. Bill payments often become a burden, eroding their valuable time and focus.

But what if there was a way to free them from this tedious task? Here are some key factors to consider when choosing the right bill payment service for your HNWI clients, empowering them to focus on what truly matters.

  1. Partner with a Trusted Expert

Look for a provider with a proven track record serving HNWI clients, like Plumb. Established in 1996, we possess the expertise and experience necessary to navigate the intricacies of high-net-worth finances.

  1. Prioritize Security and Personalization

Your clients’ data security is paramount. Choose a service with robust security protocols and encryption, ensuring their privacy and financial information remain safeguarded. Additionally, seek a provider offering customized solutions that cater to each client’s unique needs and preferences.

  1. Embrace Technological Innovation

Technology plays a crucial role in efficient bill management. Explore platforms that are user-friendly and intuitive, like Plumb’s proprietary bill pay app, designed specifically for HNWI needs.

  1. Transparency is Key

Clear communication regarding fees and value propositions is essential. Choose a service that transparently communicates its pricing structure and demonstrates the tangible benefits it offers your clients.

  1. Seamless Integration and Ongoing Support

A smooth transition is critical. Opt for a service that seamlessly integrates with your clients’ existing financial team, including accountants, attorneys, and estate planners. Plumb fosters collaboration and ensures a smooth onboarding process.

Unburden Your Clients and Empower Their Financial Future

By choosing the right bill payment service, you can free your HNWI clients from the burden of mundane tasks, allowing them to focus on their financial goals and personal priorities.

Let Plumb take care of the bills while you concentrate on building your clients’ financial wealth and well-being. Contact us at sales@thinkplumb.com to learn more about how Plumb can help you and your clients focus on what you both want to focus on – and leave the bill payment to us.

Family Office Services Outsourcing: The Ultimate Audit Checklist

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Finding the right outsourced family office service provider can be challenging enough, but once that decision is made, how do you know if you’ve made the right choice? And what steps can you take to ensure that your needs and goals are being met?

At Plumb we pride ourselves on providing clarity in accounting and stewardship in service for our high-net-worth bill pay and accounting clients (and their trusted advisors). This guides everything we do – from our seamless client onboarding process to our ongoing check-ins and accurate, customized reporting.

Here we take you through our top 5 recommendations for monitoring the effectiveness of your outsourced family office bill pay and accounting provider. Use this simple checklist to ensure that you are getting the service you need from your outsourced firm.

  1. Clarity

Working with an outsourced service – regardless of what that service is – should provide you with clarity. When it comes to bill pay and accounting, clarity is paramount. But what do we mean by clarity? It’s not just about having organized spreadsheets and balanced books. It’s about seeing the story behind the numbers: understanding where your money comes from, where it goes, and why. This clarity will help pave the way for successful wealth management and maintenance.

  1. Communication

A key component to any solid and productive relationship is communication. This is no different when thinking about your relationship with your outsourced service providers. Do you feel like you are kept up to date on everything you need to know about? Are your emails and calls responded to with urgency? Does the team working with you understand your goals, your needs, and your expectations? Are the updates and reports they provide clear and well-explained? If you answer “no” to any of these questions, you should address this with your outsourced firm to see what can be adjusted.

  1. Access

How easy is it for you to get the data and information that you need? Does your outsourced service provider have an app (like the Plumb proprietary bill pay app) that you can access anytime, from anywhere? What about customer support access? How much access do you have to the team handling your account?

  1. Comprehension

Do you feel that you understand what this outsourced service provider is responsible for, as well as any data and information that they are sharing with you? Are they sending updated and timely reports? Better yet, do you have access to a digital dashboard where you can view the data you need, in the way you want to view it?

  1. Peace of Mind

At the end of the day, are you able to relax and rest easy knowing that your bill pay and accounting needs are being met? That you don’t have to worry about keeping track of due dates and cash flow because your outsourced team is on top of it? The ultimate goal for any outsourced service provider is to alleviate the daily stress and worry their clients face. At Plumb, we want our clients to focus on the things in life they enjoy and love – and to leave the bill pay and accounting details up to us. We’ve got it covered.

Contact us at sales@thinkplumb.com to explore how Plumb’s expertise can elevate your bill pay and accounting experience. Let us tailor solutions to meet your unique financial goals, providing the specialized attention your wealth deserves.

Illuminating the Accounting of Art, Collectibles, and Luxury Assets

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There are people who invest in stocks, bonds, mutual funds or real estate; and then there are people who invest in more unique assets. These assets can range from photographs and paintings to jewelry and classic cars. More often than not, this is born out of a true love for these items. That they may hold extraordinarily high values is just the cherry on top.

With Plumb’s decades of experience helping high-net-worth clients and their trusted advisors with their bill pay and accounting needs, we are very familiar with the best practices of the reporting and accounting requirements related to these special assets.

Here are some of the ways we work with clients and their luxury assets:

Art and Car Collections

  • It is recommended that clients that have art or classic car collections should itemize every piece or vehicle in the collection.
  • These items may also be held in separate entities – especially if clients do a lot of buying and selling. We may recommend the use of Sage Intacct to make use of their dimensions for ease of tracking. Otherwise, we can utilize subaccounts in QuickBooks.
  • If a client loans a piece or a collection to a museum, a loan agreement is needed, and we will help coordinate with the insurance company. The museum is responsible for the insurance of the piece(s) while it’s in their possession, and when returned, the insurance again needs to be updated.
  • If an appraisal is conducted, we will coordinate with the appraiser to receive the report on both the inventory and assigned values.

Jewelry

  • Jewelry is not always itemized since most clients have a rider on their home policy up to a certain amount that can cover this type of asset. However, we recommend itemizing if clients have more valuable jewels or watches.
  • As with art or car collections, if the client requests an appraisal, we’ll receive the report directly from the appraiser.

At the end of the day, our goal is to accurately itemize these unique, luxury assets for insurance purposes, and they are tracked separately for accounting reasons. And our clients usually just want to ensure that they – and their children and grandchildren – can enjoy these magnificent possessions for a long time to come.

Take the Next Step Towards Financial Ease and Clarity: Contact us at sales@thinkplumb.com to discuss how our outsourced bill payment and accounting services can help you accurately itemize and report on your luxury assets. Your peace of mind is our priority.