What a Family CFO Can Do for You
By Steve Harless, CPA and Donna Holm, CPA, MST
You might have a home office, but do you really want to spend your time pouring over household spreadsheets, paying bills and overseeing home maintenance when the blue skies, waterways and beaches are calling? Although a significant household has become increasingly complex, it does not have to become your full-time job. Working with trusted, bonded, professionals who can act as your Family CFO and become a literal extension of your Family Office will take the onus off you and provide you with more time to follow the pursuits you enjoy.
The idea of creating a Family Office developed at full-service accounting firm Harless & Associates due to a growing demand by dozens of the company’s accounting and tax clients for a trusted family partner to assist in the management of their households and family financial responsibilities. Most of the requests were for administrative and accounting services. Clients with a second home, rental property, a boat and maybe even a private aircraft needed a solution that would assist them in running their multifaceted households.
Part of the Concierge Services branch of the company, the Family Office and Family CFO can provide assistance with special family needs such as elder care, childcare and disability care. Additionally, clients request services including help locating service staff such as a house manager or an estate manager. The Family CFO can also arrange appraisals for real property, jewelry, antiques and art. When it comes to home renovation or maintenance projects, the Family CFO can help with those too by supervising home improvement as well as overseeing repair of automobiles, yachts, aircraft and rental properties. Like an excellent administrative assistant, the Family CFO can also arrange transportation including commercial travel, private jet charters, yacht charters, car transport, moving vans and limousine service.
Even more, the Family CFO can manage household finances so that while you are traveling the globe or maybe just relaxing in the sun, your bills will be handled, your household staff will be paid and your budget will be maintained.
When Harless & Associates determined to offer these much-needed services, owners Steven and Caroline Harless personally set about choosing the multi-lingual, highly credentialed personnel, including local and experienced CPAs, hoteliers, caterers, pilots, boat captains, former bankers, attorneys and private investigators who would handle the services. Most importantly, these professionals strictly adhere to state and nationally recognized codes of professional ethics.
If you need help with home maintenance and bill paying, assistance with multiple residences or support during a life-changing event, extending your home office into a Family Office with a Family CFO can offer you an effective solution.
Spend your time doing what you love, and let your Family CFO handle those day-to-day tasks that could otherwise keep you from enjoying the best years of your life.Steven Harless, CPA is the Managing General Partner of Harless & Associates.
Donna Holm, CPA, MST is an Associate with Harless & Associates.