Family Offices and Private Client Services

Helping family offices and private clients stay ahead of change.

The evolving role of the family ofice

As family assets grow, there comes a time when the family asks:

“Are we ready for a family office?”

And for families with an existing family office:

“Are we getting the best advice and can we do better?”

 

KPMG Advantage

We understand that the complexity of these decisions will ultimately effect generations to come. Our goal is to guide you through the process by providing customized solutions, innovative technologies, and proven methodologies that will help you and your family establish or operate your family office with a focus of growth, efficiency, and stability.

With 80 offices in the United States and a global network in more than 25 countries, KPMG’s Family Offices and Private Client Services group can assist in the development and strategic direction of your family office, locally and globally, to effectively promote growth, efficiency, and stability.

If you choose to create a family office, or are looking to expand the goals of your existing family office, we can assist you in tailoring your family office towards the distinct goals and aspirations of your family, including the following areas:

Risk

-Aid in federal, state, and international tax compliance services

-Provide consultation regarding technological advances, fraud, and cyber security issues

-Support business intelligence to identify potential investments

-Conduct due diligence on potential investments

Governance

-Assist in the development of a clear strategic vision for the family office

-Provide recommendations on guidelines and policies to help decision making

-Evaluate key business performance indicators

-Educate the next generation on ownership rights and responsibilities

Growth

-Perform a health checkup of the family office

-Provide recommendations for operations and profits

-Assist in partnerships and joint ventures

-Provide support in business consulting and advisory services

Transition

-Provide guidance on best practices for integrating the next generation into the family office’s decision making process

-Develop succession plans to maintain a smooth transition of ownership

-Structure and planning for the divestiture of assets or family businesses

-Coordinate trustee and beneficiary responsibilities

-Assist in trusts and estates planning

Wealth management

-Assist your wealth advisors in aligning the wealth plan to meet the values and vision of the family

-Work with your advisors to assist them in understanding the impact of the family’s goals on the management and diversification considerations of the family’s assets (including real estate, private planes, yachts, art, bonds, businesses, and more)

-Aid in providing effective communication with the next generation of family members to understand the core principles and strategy of the wealth plan developed

Philanthropy

-Offer insights to assess appropriate charitable structure: direct giving, private foundation, donor advised fund, public charity

-Develop and monitor a risk framework

-Conduct tax compliance training (domestic and international)

-Provide support in administration of private foundations, public charities, and charitable trusts

 

Family business dynamics

There are many facets of tax that can potentially affect the creation, growth, and prosperity of a family business. KPMG offers sophisticated, coordinated, and proactive services to family owned companies, their owners, senior executives, and families throughout each business life cycle stage. This includes assistance in growing/selling the business, succession planning, asset transfers, wealth preservation, and charitable giving. Learn more.

 

 

 

KPMG Spotlight: Qualified Opportunity Zones

 
 

Opportunity knocks under tax reform

An investment in a Qualified Opportunity Fund may enable a family office to defer capital gains from the sale or exchange of virtually any type of property—stock, real estate, even art. Learn more about this new incentive and what it might mean for your family office’s investment:

 
 

Family Office Insights

Sign up for our mailing list to stay informed on the latest news for family offices

 
 

Private Markets Group

Helping private companies drive growth through each stage of the business life cycle.

 
 

Trust Tax Services

Guidance in managing your client's estate and trust taxes.

 

Tax insights for family offices, privately held companies and family businesses

5 Tax Planning Tips for Family Offices

Tips to help family offices and private clients to capitalize on several key provisions for tax season.

Section 199A

Big changes and important questions. Discover key issues raised by the new section 199A regulations and what they may mean for businesses.

Tax Reform’s Impact on Family Offices

Our webcast replay on changes brought upon family offices by the 2017 tax law.

KPMG Spark

Blending intelligent automation and a personalized “human in the loop” service for your family office's tax accounting needs.

Philanthropic Planning for Family Offices

Considerations when establishing a charity or pursuing other philanthropic endeavors.

Chief Tax Officer Study

Read our private company outlook report to see the key issues CTOs are facing and their expectations on future growth.

 

Contact us:

Brad Sprong

Brad Sprong

Co-leader, Family Offices and Private Client Services Group, KPMG (US)

+1 816-802-5270
Bill Jackson

Bill Jackson

Co-leader, Family Offices and Private Client Services, KPMG (US)

+1 214 840 6040

KPMG's individual tax services may only be provided to owners and senior executives of private business clients of the firm or in connection with global mobility services or bank trust outsourcing services.