Keeping up with your financial matters, bill pay, and appointments can be a full-time job. While hiring a personal assistant can help free up your time, it might not be the right solution for everyone. Often, an independent family office can go above and beyond to manage these tasks in a way that truly reduces the worries you face.
Here are five reasons to choose a family office over a personal assistant.
1. Internal controls come standard.
To prevent fraud, embezzlement, wrongdoing, and other troublesome scenarios when managing your affairs, internal controls are a must. When only one person is at the helm, you may not have anyone to consistently review this person’s work. Are things being done properly and to your liking? Without controls, it’s hard to know for sure.
A family office gives you a team of professionals who work together to support you. This means you can rest easy knowing proper internal controls, such as segregation of duties and work approvals, are in place to ensure you’re taken care of in every situation.
2. No gaps in service.
If your personal assistant unexpectedly (or even expectedly) leaves, gets sick, or goes on vacation, you could be left without coverage. When this happens, everything falls in your lap. You’re either picking up the pieces yourself or rushing to find a replacement who may not be the best fit. With a family office in your corner, you’re supported in all seasons.
3. A range of skills at your fingertips.
Some individuals are adept at organization, tracking, and attention to detail. Others have sound decision-making, business, or personal skills. It’s rare to find one person who possesses all of these traits. An independent family office, however, gives you access to a wide range of skills, experiences, and perspectives through its team approach.
4. No pressure to hear or say “yes.”
When your personal assistant’s livelihood depends on you, this person may not be very motivated to challenge your decisions. The result: You end up getting “yes” for an answer more than you should.
On the flip side, having a personal assistant means you’re beholden to one person. You may be asked for large raises, bonuses, time off, working conditions, or schedules that make you uncomfortable. Because you rely on this individual, you may feel pressured to say “yes.”
You need professionals who will look out for you and handle your affairs as their own, even when it’s not comfortable or convenient. When you work with an independent family office, this is exactly what you get.
5. More time for what matters to you.
Even if a personal assistant can meet your needs, you still have to worry about—and to some degree, supervise—the duties this person handles. In other words, you have to manage an employee, which can be a substantial drain on your bandwidth. Working with a family office keeps you from being HR, helping you lower your stress and take back your time.
Origin CPA Group has family office solutions to fit most peoples’ needs. A targeted team approach helps you avoid the drawbacks of a personal assistant. How could our family office services help you live more freely? Contact us today to learn more