SAOS specializes in developing best-in-class back-office accounting departments for single family offices. Our mission is to educate you, as an SFO leader, on best practices for improved control, efficiency, and reporting capabilities. Let’s dive in:

Top 4 reasons why top performing family offices prioritize accounting?

As a SFO, you understand the importance of managing your finances with precision and care. Yet, all too often, back office accounting is an overlooked aspect of financial management. Many SFOs rely on a fragmented team of internal and external staff with inadequate tools and processes, resulting in a lack of visibility and controls, and a general unawareness of what’s happening “under the hood” in the Family Office. High performing SFOs share a certain level of respect for accounting and understand the value. We asked families to identify the primary reasons why they prioritize accounting:

  • Prevent tax leakage – equipping your tax team with accurate, timely financial information gives them the best opportunity to devise an optimal tax planning strategy. With the sheer number of entities and intricacies involved in your organizational structure, accomplishing this is no simple task. However, maintaining accurate and consolidated books consistently, month in and month out, can transform your tax team’s approach to tax planning.
  • Compliance and accountability to fiduciaries and trustees – When you have the assurance that your books are precise and comply with accounting standards, it instills a sense of calm and confidence among you, your family members, stakeholders, and partners.
  • Pay/manage bill pay and spend – In a back-office accounting department, expenses are the most commonly occurring task on a day-to-day basis. Managing this high volume of bill payments across various entities within an SFO requires the implementation of technology and processes that allow for allocations, approvals, audit trails, and timely execution. Furthermore, tracking expenses at appropriate levels provides detailed spending visibility to family members, enabling better control over expenditures.
  • Manage investments/management the wealth – Investment teams usually utilize various tools to analyze their investment portfolio and its performance. However, having robust accounting reporting is equally essential, particularly when you need it the most. Such reporting offers a distinct perspective and enables you to gain a better understanding of your financial picture.


Strengthening your accounting department does not necessarily mean incurring exorbitant costs. You may already have the necessary overhead with the current team you’re paying for the job. However, it requires a commitment to change and assembling the right pieces to achieve success.

If you’re interested in implementing transformative changes to your accounting department, get in touch with us today for an evaluation and recommendation.