Family offices and private client services

The evolving role of the family office

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 tested methodologies that will help you and your family establish or operate your family office with a focus on 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 cybersecurity 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 trust and estate planning

Wealth

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

-Work with your advisers 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, 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:

Read our brochure on Opportunity Zones’ potential benefits for family offices and private companies
Download KPMG's special report: Summary and observations, proposed Qualified Opportunity Zone regulations
Visit KPMG's dedicated Opportunity Zone website for the latest updates