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 Wins Best General Ledger System at the 2025 PAM Awards

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We’re thrilled to announce that Plumb has been awarded Best General Ledger System at the renowned 2025 Private Asset Management (PAM) Awards! This award affirms our ongoing commitment to delivering secure, efficient, and innovative financial solutions tailored for ultra-high-net-worth and high-net-worth individuals and their trusted advisors.

A Recognition of Excellence

The PAM Awards set the standard for excellence in the private wealth industry, celebrating companies that lead in performance, innovation, and client service. Winning Best General Ledger System reflects the trust our clients place in Plumb to simplify financial management with precision and security.

What Sets Plumb Bill Pay Apart?

At Plumb, we understand the unique and complex financial needs of high-net-worth individuals, family offices, and their advisors. Our General Ledger System delivers:

  • Real-Time Accuracy & Transparency – Providing real-time financial visibility and insights for more informed decision-making.
  • Robust Security & Compliance – Protecting financial data with bank-grade security measures and strict compliance standards.
  • Effortless Bill Pay & Accounting – Streamlining workflows to improve efficiency, reduce errors, and simplify financial management.

Plumb Bill Pay award-winning general ledger system

Looking Ahead

Winning this award reinforces our commitment to reimagining financial technology. We’re constantly evolving, refining, and introducing new ways to make financial management more seamless and secure. We’re excited for what’s ahead and grateful to our clients for trusting us on this journey!

Thank you to our clients, partners, and the PAM Awards for this incredible honor. Here’s to another year of innovation and excellence!

Want to learn more about how Plumb Bill Pay can simplify your financial management? Contact us today!

Top 5 Questions Our Clients Ask About Outsourced Bill Payment

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Outsourced bill payment services are increasingly favored among ultra-high-net-worth individuals (UHNWIs), high-net-worth individuals (HNWIs), and family offices. These services not only streamline financial management but also enhance cash flow management and reduce administrative burdens. Here are the top five frequently asked questions we receive from clients interested in our services:

  1. What security and fraud prevention measures do you have in place?

Security is a top priority for us at Plumb. We leverage advanced security protocols, including encryption, firewalls, data backup, and fraud detection mechanisms. Through our proprietary Plumb Bill Pay App, we conduct vendor verification through OFAC checking, new vendor warnings, and email whitelisting. Our commitment to safeguarding your financial information is further reinforced by bank-level security, multi-factor authentication, and stringent internal controls, all designed to prevent unauthorized transactions.

  1. What services do you offer?

Our offerings include bill payment and record keeping, cash flow reporting, expense tracking, vendor management, and financial reporting. Using our secure personal bill pay services, including our proprietary Plumb Bill Pay App, your bills are monitored for discrepancies, tracked closely and reconciled accurately. We have award-winning expertise – and an app that provides comprehensive personal bill pay services.

  1. What does the Plumb Bill Pay App do and is it secure?

Our proprietary platform, the Plumb Bill Pay App, is designed for affluent clients to streamline bill approvals, provide real-time financial insights, and ensure secure access anytime, anywhere. The app is continuously being enhanced and now guides new clients through the onboarding process as well. Additionally, the app seamlessly integrates with QuickBooks Online software to process payments and employs bank-level security to ensure secure transactions.

  1. How do you ensure accuracy and timely payments?

At Plumb, we utilize automated payment scheduling and multi-level approval workflows to ensure precision. We conduct multiple levels of approvals prior to a bill being paid, guaranteeing complete accuracy. Our Commitments tracker within our app includes built-in reminders for upcoming payments and proactive monitoring to prevent late payments and errors. Additionally, all of our bill entry forms feature built-in error detection and validation to ensure accuracy from the very start. You can trust Plumb to handle your financial transactions with the highest level of care and reliability.

  1. What level of customization and reporting do you provide?

Customized reporting is available in addition to our slate of popular weekly and monthly reports.  We offer tailored approval workflows, spending limits, and role-based permissions. Additionally, our robust reporting capabilities include real-time financial insights, categorized expense tracking, and integration with accounting or financial management platforms. We provide the level of visibility and control you require.

Outsourced bill payment services provide significant benefits for UHNWIs, HNWIs, and family offices. By choosing Plumb, you can be confident that your financial transactions are handled with the highest level of security, accuracy, and customization. Our tailored solutions ensure your unique financial needs are met with precision, giving you peace of mind and more time to focus on what truly matters. Let us help you streamline your financial management and experience the convenience and reliability of Plumb’s expert services.

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The Role of Bill Pay Apps in Financial Management for HNWI and UHNWI

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Managing the financial affairs of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) requires precision, efficiency, and discretion. For these individuals, staying on top of high-volume transactions is critical—but it can also be overwhelming. This is where bill pay apps come in, providing tailored solutions to simplify payment processes and enhance financial management workflows.

The Financial Complexities of HNWIs and UHNWIs

High-net-worth and ultra-high-net-worth individuals lead complex financial lives. They often own multiple properties, manage philanthropic initiatives, and oversee diverse business ventures, all of which generate substantial financial activity. Effectively managing this intricacy requires financial management solutions that exceed the capabilities of conventional banking tools.

Key challenges include:

  • Tracking multiple payment obligations for mortgages, domestic employees, vendors, and service providers.
  • Maintaining accurate records for tax planning, compliance, and financial reporting.
  • Ensuring discretion and security in financial transactions.
  • Coordinating approvals among family members or trusted advisors.

How Bill Pay Apps Address These Needs

Bill pay apps specifically designed for HNWIs and UHNWIs offer robust features that cater to their unique financial demands. Here’s how they enhance financial management:

  1. Centralized Financial Control
    Bill pay apps provide a single platform to manage payments across accounts, properties, and entities. This centralization simplifies tracking and eliminates the need for multiple logins or disparate systems.
  2. Customizable Workflows
    Sophisticated bill pay solutions enable users to establish tailored workflows, including multi-tiered approval processes for users and their trusted contacts.
  3. Enhanced Cash Flow Oversight
    Real-time dashboards provide visibility into payments, due dates, and overall cash flow, empowering users to make informed financial decisions.
  4. Tailored Reporting and Insights
    Advanced reporting capabilities deliver customized insights into spending patterns, payment history, and cash flow trends, enabling real time and informed decision-making.
  5. Heightened Security Features
    Bill pay apps employ advanced encryption, secure authentication, and fraud monitoring to safeguard the sensitive financial data of HNWIs and UHNWIs.
  6. Time and Cost Efficiency
    Automation of routine and non-routine payments using workflows minimizes administrative workloads, freeing users and their teams to concentrate on strategic priorities. This streamlined approach saves time and reduces costs effectively.

Essential Features to Look for in a Bill Pay App for UHNWIs & HNWIs

When selecting a bill pay app, UHWNIs and HNWIs should prioritize the following:

  • Customization: Flexible workflows and reporting tailored to individual needs.
  • Integration: Compatibility with accounting and financial management software.
  • Data Security: Robust encryption and compliance with financial regulations.
  • Scalability: Ability to accommodate growing complexity as financial portfolios expand.
  • Dedicated Support: Access to expert customer service for onboarding and troubleshooting.

A Tailored Solution: The Plumb Bill Pay App

The Plumb Bill Pay App stands out as a transparent solution specifically designed to meet the unique needs of affluent clientele. Built with an acute understanding of their financial complexities, the Plumb Bill Pay App offers:

  • Financial Transparency: Clear insights into financials and bill payments, ensuring clients maintain full visibility over their finances.
  • Easy Bill Approval: A streamlined approval process allows users to review and approve bills with just a few clicks, ensuring timely payments while maintaining control.
  • New Onboarding Module: A robust in-app onboarding process simplifies the setup process, enabling clients to get started quickly and seamlessly while ensuring accuracy.
  • Bank-Level Security: Industry-leading encryption and fraud prevention measures protect sensitive data.
  • White-Glove Support: Our dedicated Plumb team delivers personalized, concierge-level support to ensure a seamless and exceptional client experience from onboarding to ongoing management.

The Plumb Bill Pay App empowers HNWIs and UHNWIs to streamline their financial management, optimize cash flow, and dedicate their time and energy to what truly matters.

The Plumb Difference

Bill pay apps have become indispensable tools for HNWIs and UHNWIs seeking to streamline their financial management. By automating payments, providing real-time financial insights, and enhancing security, these apps reduce complexity and free up time for strategic decision-making. As digital transformation continues to shape the financial landscape, adopting the right bill pay solution is not just a matter of convenience—it’s a critical step toward maintaining financial efficiency, security, and peace of mind.

At Plumb, we understand the importance of efficient, secure, and optimal solutions. The Plumb Bill Pay App is an extension of our commitment to providing innovative tools and white-glove service that help clients achieve financial clarity and peace of mind.

Contact us today to learn more about our services and Bill Pay App, or simply reach out to schedule a personal demo.

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Understanding High Net Worth Reporting Around Alternative Investments

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High Net Worth (HNW) individuals often seek to diversify their investment portfolios beyond traditional assets like stocks and bonds. Alternative investments have gained popularity among this demographic due to their potential for higher returns and portfolio diversification. However, understanding the reporting requirements for alternative investments is crucial for both investors and financial professionals to ensure compliance and transparency. This article explores the nuances of HNW reporting, types of alternative investments, and the associated reporting requirements.

Alternative investments encompass a diverse range of assets beyond traditional stocks, bonds, and cash equivalents. Common types of alternative investments include private equity, hedge funds, real estate, collectibles, commodities, and venture capital. While these investments offer the potential for higher returns, they also introduce complexities in reporting and valuation.

  • Private Equity: Private equity investments involve acquiring ownership stakes in privately-held companies. Reporting requirements for private equity investments may include periodic financial statements, valuations, and disclosures of investment strategies. Additionally, investors must adhere to regulatory guidelines governing private placements and investor accreditation.
  • Hedge Funds: Hedge funds employ various investment strategies, including long-short equity, arbitrage, and derivatives trading. Reporting requirements for hedge fund investments often involve disclosing performance metrics, risk profiles, and fund expenses. Investors may also need to report their hedge fund holdings for regulatory compliance and tax purposes.
  • Real Estate: Real estate investments encompass residential, commercial, and industrial properties, as well as real estate investment trusts (REITs). Reporting requirements for real estate investments may include property appraisals, rental income statements, and depreciation schedules. Investors must also comply with tax regulations governing capital gains, rental income, and property deductions.

Reporting on HNW statements requires meticulous attention to detail and adherence to regulatory standards. It is crucial to accurately compile financial information, including the proper booking of alternative investments, to reflect the comprehensive position of the individual and their overall portfolio. Each type of alternative investment may require a different accounting treatment based on its characteristics and regulatory requirements. It is essential to stay updated on accounting standards and consult with professionals to ensure compliance and transparency in booking alternative investments.

Additionally, HNW statements should provide a breakdown of asset allocation across various investment categories, including alternative investments, to offer a holistic view of the portfolio’s composition. Compliance with reporting standards ensures consistency and comparability. Regular reviews and audits by qualified professionals help maintain the integrity of HNW statements and instill confidence among stakeholders including investors, regulatory authorities, and financial institutions. Overall, thorough reporting practices facilitate effective wealth management and decision-making for HNWI and their advisors.

Consolidating tracking of alternative investments involves implementing a robust system to monitor and manage diverse asset classes effectively. One approach is to utilize investment management software that integrates data from various sources, including private equity funds, hedge funds, real estate holdings, and commodities. This centralized platform enables investors to access real-time information on portfolio performance, risk exposure, and liquidity.

  • Benefits of Consolidating Tracking
    • Enhanced visibility into asset allocation
    • Streamlined reporting processes
    • Improved decision-making.
  • Challenges That May Arise
    • Limited transparency
    • Illiquidity, and
    • Valuation discrepancies

With proper tools and expertise, consolidating tracking of alternative investments can optimize portfolio management and maximize returns while mitigating risks associated with these non-traditional asset classes.

In conclusion, comprehending HNW reporting concerning alternative investments is indispensable for both investors and financial professionals navigating the complex landscape of wealth management. By accurately documenting these investments and integrating them into comprehensive financial statements, HNWI can gain clarity on their portfolio composition, risk exposure, and performance. With a steadfast commitment to transparency, diligence, and expertise, HNW investors can effectively harness the potential of alternative investments to achieve their financial objectives in today’s dynamic investment landscape.

Take the Next Step Towards Financial Ease and Clarity: Experience the benefits of secure and streamlined financial management. Contact us at sales@thinkplumb.com to discuss how our outsourced bill payment services can enhance accuracy, save time, simplify record-keeping, and reduce stress. Your peace of mind is our priority.

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.

 

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.

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.

 

 

The Plumb Difference in HNWI Bill Pay

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Plumb Bill Pay and Family Office Accounting emerged from a realization of the distinct challenges faced by our business-owner and entrepreneurial clients. While relying on their company’s accounting team initially served them well, unforeseen circumstances like retirements or changes in personnel often led to gaps in effective bill payment and accounting management.

High Net Worth Individuals (HNWIs) possess distinctive bill pay and accounting requirements, setting them apart from the average individual.

Here are key aspects of the unique bill pay and accounting needs we address for HNWI clients:

  1. Complex Portfolios: HNWIs have an array of diverse investments, necessitating expertise in managing stocks, bonds, real estate, and private equity holdings. Plumb’s extensive experience in handling complex financial bills related to hedge funds and PE investments is showcased in this article.
  2. Privacy and Security: Prioritizing the protection of sensitive financial information is critical for HNWIs. Plumb ensures robust security measures, strict confidentiality, and discretion in all financial transactions. Delve deeper into our focus on these crucial elements in our dedicated article.
  3. Customization: Tailored solutions are imperative to meet the unique financial goals and preferences of HNWI clients. Plumb recognizes the need for customized financial reports, providing insights into specific goals through performance summaries, tax reports, and estate planning documents.
  4. Technology Forward: Utilizing cutting-edge tools is paramount for accuracy, efficiency, data accessibility, transparency, and long-term success. Plumb’s proprietary bill pay app embodies these qualities.
  5. Cash Flow Management: Managing cash flow for HNWIs is pivotal for meeting lifestyle needs and investment requirements. Plumb excels in handling complex bill payment and cash flow forecasting, especially in scenarios involving multiple income streams and investment accounts.
  6. Professional Guidance: Collaborating with teams of financial advisors, accountants, and estate planners is customary for HNWIs. Plumb seamlessly integrates with these teams, ensuring personalized guidance and effective service delivery.

Plumb stands as a proven and trusted partner in recognizing the need for specialized attention and services due to substantial wealth and complex financial portfolios. With decades of experience, we deeply understand and cater to high-net-worth clients’ unique bill pay and accounting requirements.

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.