Family Offices and Private Client Services
Helping family offices and private clients stay ahead of change.
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
KPMG Private Enterprise
Helping private companies drive growth through each stage of the business life cycle.
Learn more
Tax insights for family offices, privately held companies, and family businesses
This article explains the critical provisions in tax reform affecting Family offices and individuals.
KPMG’s 2020 personal tax planning guide provides valuable information and planning tips about current tax laws.
Family Office Webcast Series
KPMG webcasts that examine key tax issues and developments that may affect family offices.
Listen here
Chief Tax Officer Study
Read our private company outlook report to see the key issues CTOs are facing and their expectations on future growth.
Read the report
5 Tax Planning Tips for Family Offices
Tips to help family offices and private clients capitalize on key provisions for tax season.
Learn more
Section 199A
Discover key issues raised by section 199A regulations and what they may mean for businesses.
Watch here
Philanthropic Planning for Family Offices
Considerations when establishing a charity or pursuing other philanthropic endeavors.
Learn more
KPMG Spark
Blending intelligent automation and a personalized “human in the loop” service for your family office's tax accounting needs.
Discover more
Contact us:
Brad Sprong
Partner, National Tax Leader, KPMG Private Enterprise, KPMG US
+1 816-802-5270Required fields
Email Me
Bill Jackson
Co-leader, Family Offices & Private Client Services, KPMG US
+1 214-840-6040Required fields
Email Me
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.