Family Office LITE
Life Simplified. Proactive Solutions.
Overview
Harbor is an independent firm providing Family Office Services to high-net-worth families, assisting them in managing their family enterprise. We are our clients’ trusted advisor and partner in navigating the complex world that is created through significant wealth. Through the services we provide, we aim to alleviate any burden of taking care of the family enterprise, so our clients are freed up to do what they enjoy most.
Services
Harbor’s multi-disciplined team of experts offers Family Office LITE services:
Bill Pay
- Receive, review, and process non-recurring invoices through Bill.com
- Correspond with vendors on client's behalf collecting payment information, tax Id's etc.
- Client approves invoices utilizing Bill.com app on cellphone or online.
- Harbor pays invoices and payments are sent out by Bill.com
Accounting
- Record all financial statement transactions related to accounts payable.
- Record monthly credit card transactions.
- Record monthly bank transactions.
- Perform monthly bank reconciliations.
- Record monthly journal entry transactions related to each entity.
Financial Reporting
Quarterly reporting package includes:
- Cash report - cash balances by entities and a consolidated view.
- Spending report - summarizes spending by category.
- Consolidated financial report including overview of assets by entity.
- Private Equity fund tracking report - summarizes PE investments, including capital called and unfunded commitments.
Payroll Coordination
- Set up, review, and submit monthly payroll for employees.
- Coordinate with payroll provider and ensure statutory reports are filed.
Fees
Minimum fees are $9,000/quarter paid in advance with a one-year engagement term.
Pricing may vary depending on each unique client situation.