QuickBooks and Excel are a common software pairing for family offices that seemingly has cost, flexibility and familiarity on its side. However, the disadvantages of this approach soon begin to outweigh the benefits. The fact that close to 90% of spreadsheets contain errors in at least 1% of all formula cells means considerable hidden risk. Plus, family office demands on QuickBooks tend to quickly exceed its functionality and the spreadsheet as de-facto reporting tool can only work for so long.
The client experience at Eton Advisors is a full cycle of integrated advice designed to meet the family’s needs, priorities and aspirations in a multi-generational context. Through our service model, we develop a goals-based plan by reviewing the structure of wealth, family governance, wealth transfer, asset protection, and asset location. We then build a portfolio to meet the criteria of the plan by customizing the asset allocation, risk management, manager selection and monitoring. The finished plan is a blueprint of client service for management, coordination, execution and ongoing monitoring.