Barron's Advisor Hall of Fame ABOUT US WORKING WITH YOU SERVICES NEWS BLOG CAREERS AT WALDRON CONTACT LOGIN SUPPORTING YOUR FAMILY OFFICE Michael Krol, CFP®, CPA, Partner and Head of Wealth Advisory, explains how Waldron efficiently helps family offices provide expanded services for their clients. “All family offices are structured to serve the people who established that office. But when a family office is now serving the next generation, or even the grandchildren of its founders, the systems may not be in place to most effectively serve their current needs—no matter how diligent and professional the employees. One long-time family office came to us with the goal of sharpening their administration and reporting processes.” Our Advice We worked with the head of the family office and analyzed the operation to objectively present their strengths (institutional knowledge and investment expertise) and weaknesses (antiquated technology). We realized the biggest challenges the family office faced were supporting the subsequent generations of the office. The spending was getting more onerous; marriages were occurring; more tax complexity was being created from the creation of new trusts—we helped the office develop tracking procedures and an education program for the second and third generation. We implemented enhanced aggregation of account data and worked with the family office to incorporate time-saving and at once more rigorous reporting methods, lessening day-to-day tracking burdens while enabling a smoother planning process. Our technology allowed transaction level information to pass through straight to the family office and into their systems for tax, spending, and entity reporting. Interested in learning more about supporting a family office as a business owner? View our additional resources and get a free copy of John Waldron’s “The Entrepreneurial Journey” below. Team Members Who Can Help Matthew Helfrich John Waldron Robert Wyche FAMILY OFFICE SUPPORT SERVICES More Establishing Family Office Governance Establishing Family Office Mission and Vision Enhanced Account Aggregation Enhanced Investment Reporting Reviewing Family Office Compliance Structure Family Philanthropy Education of Next Generations EXPERTISE FOR EVERY SCENARIO | Business Sale Strategies John J. Waldron, CEO and Founder, highlights pre- and post-sale approaches to maximizing the sale of a business. More Preparing Your Kids for Wealth Matthew Helfrich, Partner and President, relates how Waldron helps heirs grow into responsible stewards of their family’s wealth and legacy. More Compensation Advice Robert H. Wyche, Partner and Managing Director, shows how we help highly compensated corporate executives and other professionals to make the most of their compensation packages. More Supporting Your Family Office Michael Krol, CFP®, CPA, Partner and Head of Wealth Advisory, explains how Waldron efficiently helps family offices provide expanded services for their clients. More ABOUT US WORKING WITH YOU SERVICES NEWS BLOG CONTACT LOGIN 44 Abele Road, Suite 400 Bridgeville, PA 15017 • Phone: (412) 221-1005 • Fax: (412) 221-2005 3303 Water Street N.W., 3F Washington, DC 20007 • Phone: (202) 656-8587 • Fax: (202) 573-8894 Privacy Policy Terms of Use Disclosure Copyright © 2014 Waldron Private Wealth. All rights reserved. For information about Forbes list of America’s Top Wealth Advisors methodology, click here Barron’s factors included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. For more information about Barron’s methodology, Click Here For information about AdvisoryHQ’s best financial advisors in Pittsburgh methodology, click here For information about the methodology of the Financial Times list of the top US registered investment advisors, click here All Best Places to Work winners are determined exclusively on the basis of their employees’ responses to the Best Places to Work Survey. Employee responses from the 30 standard survey questions, along with the number of employees that respond to the survey, are calculated to determine the company’s overall score and ranking. For information about Pittsburgh Business Times methodology,Click Here