CRITICAL PATH TO THE DEVELOPMENT

EFTA01104629 Dataset 9 9 pages Download original PDF Download as text
CRITICAL PATH TO THE DEVELOPMENT OF A GI SINGLE FAMILY OFFICE Philip F. Strassler Strassler, LLC EFTA01104629 FAMILY OFFICE FORMATION ACTIVITIES Selection of type of entity — considerations in choosing a C corp to avoid investment related expense issues PP Ownership of entity Naming of entity Entity formation — what state should it be formed in Selection of officers and directors Obtain employer identification number Family and non-family member clients Estate Planning Coordination EFTA01104630 INVESTMENTS 0. Investment return and risk determination 0. Selection of investment consultant 0. Governance — investment role: active vs. passive ▪ Family investment selection: customized allocation and investment selection SEC registration considerations 0. Investment committee Outsourced vs. internal CIO EFTA01104631 OFFICE FACILITIES AND ADMINISTRATION Office location and lease (lease vs. sublease, term, guarantees) Office design and furniture Business cards and stationery Establish filing system - paper, paperless and offsite FedEx, credit cards and other office services Petty cash Purchase insurance coverage for office EFTA01104632 SYSTEMS AND TECHNOLOGY Accounting and bookkeeping software/system Evaluate account aggregation and custom reporting of assets Performance reporting software/system Determine hardware and software needs (remote access — cloud computing) Computer system servicing needs Technology training Telephone system Obtain telephone and fax numbers Obtain domain name and email addresses Security of computers EFTA01104633 FINANCE AND ACCOUNTING ► Funding and budget ► Banking relationships - authorized signers list ► Custodial/prime brokerage relationships ► Brokerage account relationships Develop expenditure authorization and bill approval policy Review procedure and reconciliation process for intercompany transfers ► Cash and brokerage account reconciliation process ► Prepare operations manual ► Chart of accounts ► Reporting capabilities and online interface with financial institutions Determine risk metric and analytic needs EFTA01104634 FINANCIAL REPORTING NEEDS Evaluate CPA firms — compliance and advice ► Internal audit process ► External audit process ► Household staffing and payroll reporting EFTA01104635 HUMAN RESOURCES ► Develop job descriptions and compensation ranges ► Conduct search - use of relationships and recruiters ► Interview process ► Offer letters • Payroll administration, payroll tax and insurance registration • HR policies and manual ► Health insurance and other fringe benefits Receptionist hiring Executive assistant hiring i Senior Controller hiring ► 401 (10 and profit sharing EFTA01104636 STRASSLER, LLC Philip F Strassler EFTA01104637

📷 Images in this document (9 detected; 6 largest described)

AI-generated factual descriptions of embedded images (llava:13b). These are searchable across the corpus.

[Image 1] The image is a slide from a presentation, likely on the topic of investments. The slide has a title "Investments" at the top, followed by bullet points that mention "Investment Return and Risk Determination," "Selection of Investment Consultant," "Governance - Investment Role Active vs. Passive," "Family Investment Selection Customized Allocation and Investment," and "SEC Registration Consideratio [Image 2] The image shows a slide from a presentation on the topic of "Systems and Technology." The slide lists various points related to technology and systems, such as accounting and bookkeeping software, performance reporting, remote access, technology training, and the ability to access phone and tax numbers. There is a photograph on the right side of the slide, which appears to be a close-up of a micro [Image 3] The image shows a presentation slide with a title "Finance and Accounting." The slide contains a list of bullet points related to finance and accounting topics, such as funding and budgeting, banking relationships, and the process for expense authorization and bill approval. There is also a section on risk management and reporting capabilities. The slide includes a photograph of an office environm [Image 4] The image shows a presentation slide with the title "Financial Reporting Needs" in bold text at the top. Below the title, there are three bullet points with text that reads "Evaluate CPA firms," "Compliance and advice," and "External audit process." To the right of the slide, there is a photograph of a financial report or spreadsheet with various columns and rows of data, including numbers and per [Image 5] The image shows a presentation slide with a title that reads "Office Facilities and Administration Ratio." The slide contains a list of bullet points with information about office facilities and administration, including topics such as office location, lease vs. sub-lease, furniture, business cards, and insurance coverage. The slide also includes a photograph of an office space, which features a m [Image 6] The image shows a presentation slide with the title "Human Resources" at the top. Below the title, there is a list of bullet points that seem to be discussing various aspects of human resources, such as job descriptions, conducting interviews, and offering benefits. To the right of the slide, there is a photograph of three individuals in a professional setting, possibly a business environment, wit