Case Study: From Paper Trails to Peace of Mind
When we meet families like this one, we often find a familiar story. Wealth built over time through hard work and intuition, now managed with the same habits that once served well—but are beginning to show their limits. It’s at this crossroads that family office transformation becomes essential, helping modernize systems, clarify roles, and support the next generation with structure and intention.
In this case, the family’s financial records were mostly paper-based. Statements arrived by mail. Bookkeeping was done in spreadsheets or ledgers. Investment decisions were often made based on gut feeling rather than clear analysis. Reporting existed, but only enough to meet tax requirements—there was little to no insight into performance, risk, or fees.
Over time, the portfolio wasn’t generating enough income to meet the family’s financial needs. Gaps were quietly being bridged by dipping into capital—chipping away at the foundation without a clear understanding of the long-term impact. No one had raised concerns, not because everything was running smoothly, but because the right tools weren’t in place to see the full picture.
At the same time, the next generation—adult children and their partners—weren’t involved. They weren’t sure how decisions were being made, and they didn’t know how or when they’d need to step in.
What We’d Do: A Thoughtful Transition
Step 1: Build the Digital Foundation
We’d start by transitioning all financial records—bank, brokerage, and credit card statements—into a secure digital flow. That may involve coordinating with service providers to arrange access, setting up recurring statement deliveries, or configuring dashboards where information can be retrieved easily.
We’d migrate bookkeeping to a cloud-based system like QuickBooks Online. Then we’d work closely with the family’s accountant to design a simple, streamlined process. Historical documents—such as tax returns, statements, and trial balances—would be organized in a shared folder structure on a platform like Google Drive. This creates a clean, accessible archive for the future.
Once the digital infrastructure is in place, we can begin leveraging tools like QuickBooks Online for efficient bookkeeping. We’d also use Addepar for portfolio tracking and reporting. These systems give us the ability to generate real-time insights, monitor performance, and create custom reports tailored to each family member’s needs. Whether someone wants a detailed financial breakdown or just a high-level summary, we can deliver both.
Step 2: Evaluate the Portfolio and Create Clarity
Once we have reliable digital records, we can begin reviewing the portfolio. We’d look for opportunities to improve income generation, reduce costs, and align investments with the family’s goals and values.
Often, we’re able to identify inefficiencies—such as elevated fees or underperforming holdings—that have gone unnoticed. With better data and clear reporting, we can present the current picture in a way that’s easy to understand, helping the family make more confident decisions.
We would also draft a personalized Investment Policy Statement (IPS), outlining long-term objectives, risk tolerance, liquidity needs, and other guiding principles that help bring structure to what’s often been an informal process.
Step 3: Involve the Next Generation
We make it a point to bring the next generation into the conversation. This might mean holding a quarterly check-in—either over Zoom or in the living room. Kids, spouses, and accountants are all invited to join, listen, and ask questions. These regular touch points help everyone understand how things work. Over time, this builds confidence and makes the transition of responsibility feel natural.
For family members who enjoy diving into the details, we can provide portal access and detailed financial reports. These can be delivered on any schedule—monthly, quarterly, or even in real time. Some individuals want to explore performance metrics, asset allocation, and historical trends. We’re happy to build reports that meet that level of interest.
For others who prefer a big-picture view, we create clean, visual dashboards. These highlight the most relevant takeaways—such as income, liquidity, and overall performance—so it’s easy to stay informed without getting overwhelmed.
This approach ensures that everyone, regardless of their level of financial fluency, feels included and able to contribute. Over time, this regular communication builds confidence and trust. It makes the eventual transfer of responsibility feel intentional and supported—rather than abrupt or overwhelming.
How We Structure Our Fees
Fees are not calculated as a percentage of AUM, but we may reference AUM to help calibrate our pricing appropriately. Furthermore, we base our fees on the work being done—whether that’s digitizing records, producing reports, or providing ongoing advisory support. Before starting, we provide each client with a clear plan and a contract outlining the services to be delivered and the associated cost.
What a Modern Family Office Transformation Really Means
We want to help you create a family office that goes beyond investment management. We want to help families stay organized, communicate clearly, and preserve their legacy with intention. It’s about creating clarity, building trust, and supporting a smooth transition across generations.
