WTAS provides private outsourced accounting services, advice and technical support to high net worth individuals and family offices of all sizes. Our broad spectrum of services is designed to serve the unique needs of wealthy families and their future generations.

Few firms can serve family needs with our level of experience and attention to detail. Our depth of technical knowledge, especially with respect to international family issues, differentiates WTAS from others. Our services include establishing your family office, reviewing an existing family office, ongoing accounting services, and temporary staffing assistance.

Establishing your family office

We help individuals and families in the process of forming a family office with such activities as:

• Defining the overall organizational structure and resource needs of the family office
• Assessing financial system needs, setting up general ledgers and subsidiary accounting ledgers, and assisting with selection and implementation of appropriate technology
• Establishing and Implementing policies, procedures and internal controls
• Facilitating development of budgets and forecasts
• Developing financial and management reporting packages
• Designing and implementing cash/banking structure, opening accounts, ordering checks, etc.
• Facilitating information flow with ongoing service providers (e.g., payroll companies, banks, etc.)
• Establishing filing systems

During the family office set-up period, we can also provide staff to help with day-to-day accounting functions such as bill paying, general ledger accounting and financial reporting. When the office is ready, we then help with a smooth transition of these functions to internal staff.

Reviewing your family office

Operational reviews — Many existing family offices have benefited from our diagnostic review and implementation services, which focus on assessing and improving the overall operational efficiency of the accounting and administrative functions. We review the office’s existing processes, workflow, personnel capabilities and technology, and we identify specific opportunities for improvement.

Internal control assessments — We provide consulting services focused on designing, assessing, enhancing and testing internal controls in family offices of all sizes. This can be a family’s best preventative way to protect its valuable assets.

Ongoing accounting services

Bill paying, accounting and financial statement preparation — We can serve as the individual’s or family’s full accounting department, processing cash receipts and disbursements, reconciling accounts, and performing month-end, quarter-end or annual general ledger and financial reporting functions.

Investment accounting — Our accounting professionals can help individuals and families with significant or complex investments with the tracking, reconciling and accounting for the activity.

Other specialized accounting — We are experienced in handling the unique accounting and reporting issues related to family partnerships, aircraft ownership and leasing, foundations and charitable entities, hedge funds, construction projects and closely held businesses.

Preparation of budgets and cash-flow projections — We help clients formulate budgets and forecasts and monitor against those budgets/forecasts, and we provide continuing financial analysis focused on achieving strategic plans.

Payroll reporting — We assist clients with payroll processing and , preparation and payroll tax returns and annual Forms W-2 for personal employees.

Coordination with our tax and wealth planning services — Our comprehensive tax and wealth planning team has broad experience in individual income tax planning and compliance, estate and gift tax planning and compliance, charitable giving strategies, and international/ cross-border consulting and tax compliance. Our finance and accounting methodology is designed to maximize the efficiencies of the entire team. Our private accounting systems and schedules are set up to meet monthly accounting and reporting needs and to provide direct interface with our tax and wealth planning professionals.

Temporary staffing assistance

We have experienced accounting professionals who can step in on an interim basis to help with special projects, meet seasonal needs, fill an unexpected vacancy, or assist in times of transition or growth.