Family Office
New Leaf Advisory, we understand the tremendous effort you and your family have put into building your business and wealth – creating a lasting legacy. As you plan for the future and navigate the complexities of tomorrow, you might be considering, or have set up, a family office as a viable solution.
We recognise that your single or multi-family office may encounter situations where external support becomes crucial. Whether it’s bridging expertise gaps, ensuring regulatory compliance, or optimising efficiency, seeking external assistance can be a strategic step towards securing your family’s financial future.
Advice with clarity
Our dedicated team brings a wealth of expertise in the following areas:
Corporate Structure
Consider the strategic purpose of your corporate group as well as entity-by-entity roles, responsibilities and critical issues.
Superannuation
Clarify the role of superannuation in your corporate structure and estate plans as well as consider applicable rules and strategies specific to your circumstance.
Financial Operations & Compliance
Review the adequacy of your accounting / tax / investment / IT / banking & finance systems and processes.
Asset Protection
Identify risk factors to the family group, their significance and mitigation strategies which may apply to them.
Governance
Consider the procedures and processes entailed in administering key decisions of the family including financial decisions and the role of external advisers.
Estate Planning
Understand the purpose of estate planning for your family group, the current state of plans and documents as well as ancillary interaction of direct family.
Succession Planning
Understand the purpose of succession planning for your family group, the current state of plans and documents as well as ancillary interaction of direct family.
Lifestyle and Philanthropy
Consider personal aspects of value to your family specific to lifestyle assets (purpose, costs, funding) and philanthropy (vision, purpose, strategy).
Family Office Resources
Understand the resources available and planned to service your family affairs including roles, advisers, networks, premises and budget.
Management and Investment Reporting
Review the purpose, type and regularity of reporting, investment strategy, systems and processes, administration and key questions which require answers.
What sets us apart from the top-tier accounting firms in serving your family office is our unwavering commitment to building a profound and personalised relationship with you and your family members. Our approach involves taking the time to genuinely understand your unique affairs and aspirations. You can expect a prompt and timely service, an alignment in values and a nimble adaptable approach, to swiftly respond to your evolving needs and circumstances.
“We are experts in what we know and what we don’t know.”
We maintain complete honesty about our expertise, acknowledging that we cannot claim knowledge in areas beyond our scope. We have fostered robust synergies and forged partnerships with a network of experienced ancillary service providers. These valuable connections enable us to refer you to the right contacts at the right time, ensuring that you benefit from the best of both worlds.
By leveraging these strong partnerships, we can provide you with comprehensive support that extends beyond our core services.
If you’ve already assembled a dedicated team to tackle your projects and objectives, rest assured that we’re more than capable of seamlessly integrating into your existing framework. Our approach is characterised by adaptability and collaboration, making us an ideal addition to your current team.
Our Network
Your Family Office
Rest assured that when you engage with New Leaf Advisory, you gain access to a wealth of resources and expertise, enhancing the overall value and effectiveness of our collaboration.
What you can expect from our Family Office service
Corporate Structure
Pre-New Leaf
Established investment entities including companies, trusts and superannuation funds
Post-New Leaf
Closure of legacy entities and introduction of charitable entities, purpose specific companies and succession-planned group of designated entities for children and grandchildren
Superannuation
Pre-New Leaf
Established self-managed superannuation fund
Post-New Leaf
Developed corpus for maximum utility of retirement benefits for members as well as full utilisation of tax efficiencies offered through pension strategies
Financial operations and compliance
Pre-New Leaf
Basic operations and lack of understanding with respect to ongoing compliance requirements required for ongoing family activities
Post-New Leaf
Established processes and systems to ensure family’s operations were structured and regular compliance requirements were planned and scheduled for timely completion, engaged broader resources to understand accountability for various actions to enable consistent outcomes
Asset protection
Pre-New Leaf
Little consideration of specific risks to the family’s assets and strategies available to protect the family’s wealth
Post-New Leaf
Brainstormed risks specific to family’s assets which results in establishment of gift trusts and other purposes specific entities designed to protect family assets against the risks exposures identified as specific to the family. Documented procedures to be maintained by family office to ensure safeguards to risks were sustained
Governance
Pre-New Leaf
No advisory board, no scheduled board meetings, no regular internal meetings, no timetables and accountability of process for financial and operational reporting
Post-New Leaf
Established an advisory board and an investment committee, monthly and quarterly meetings established, board reports distributed in accordance with timetable, minutes taken and furnished for action with 24-hours, fortnightly stakeholder meetings established and maintained for process improvement and high-quality communications
Estate and succession planning
Pre-New Leaf
Outdated wills for matriarch and patriarch of family and no meaningful consideration, thought or connection between plans for children and grandchildren
Post-New Leaf
Established relationships with the family and senior solicitors who oversaw the initial update and periodic maintenance of all family members estate planning documents so they were executed with consideration and strategic alignment
Lifestyle and philanthropy
Pre-New Leaf
Ad-hoc nature of donations and charitable bequests. No consideration as to the impact of lifestyle decisions on the family.
Post-New Leaf
Established structures and strategic plans for charitable donations and giving, including introducing purpose specific resources to administer the entities. Introduced risk mitigation measures to popular/critical lifestyle activities to protect the family’s broader wealth
Family office resources
Pre-New Leaf
Internal: one-day personal administrative assistant and two-day part time accountant involved in core operations
External: Big-4 firm principally handled all tax and accounting compliance activities for the family without any strategic advisory offering. Inactive legal support resources.
Post-New Leaf
Internal: broadened role for personal administrative assistant, established external bookkeeping resource, introduced specific roles for New Leaf Advisory team members specific to their value and experience.
External: New Leaf Advisory replaced Big-4 firm for basic tax and accounting compliance activities and redeployed Big-4 firm in advisory scope which enabled high quality provision of strategic advice. Retained relationship and delivered significant synergies. Engaged various legal resources to deliver strategic advice around employment matters, estate matters, succession matters, risk issues, key asset and material portfolio transactions.
Management and investment reporting
Pre-New Leaf
Simple 5-page board report being issued to family on a monthly basis. Inaccurate and inconsistent figures reported.
Post-New Leaf
Monthly board reports established which are distributed by 21st of each month. Report contains cashflow forecasts, detailed asset class analysis, performance returns, exception analysis and commentary.
Annual strategy day reports produced for intensive review by advisory board members.
Family board reports produced for attention and review by broader connected family members.
Automation of reporting introduced by introduction and integration of various software systems.
The New Leaf Advisory team has extensive experience and history in supporting family offices of all sizes.
Let us act as a strategic partner with your family.
Book your complimentary consult with our expert client manager
Family Office Complimentary Consultation
Testimonials
What our clients say
After more than 10 years with another business-focused accounting firm, I felt rudderless in the financial direction of my company and had failed to achieve personal financial goals despite year-on-year business growth. Switching to NLA, in almost no time I was able to buy the home that I wanted through the solid standing of my business, and I continue to benefit from proactive attention to compliance, future planning, and overall financial optimisation as a business owner and individual.
I can say with confidence our accountant is beyond capable of handling all our monetary matters with professionalism and efficiency. When it comes to financial matters, getting advice from a respected and professional chartered accountant like Patrick is key. We value all of his advice he’s given for our small business to reach huge goals within a short period of time from switching accounting agencies. We look forward to a long business relationship with him & the team at New Leaf.
Patrick and the team at New Leaf Advisory have been taking care of my business and personal accounting for the past 9 years.
Patrick has been a sounding board and dependable advisor on every stage of our business development. I highly recommend New Leaf for your accounting and business affairs.
Book your complimentary consult with our expert client manager