Callan Family Office Expands Financial Administration Division to Support Ultra-High-Net-Worth Families and Other Single Family Offices Financial administration services such as bill pay, cash management, reconciliation, and customized reporting will now be available for both clients and other single-family offices.
PHILADELPHIA
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February 22, 2024 02:16 PM Eastern Standard Time
Callan Family Office, a registered investment advisor serving ultra-high-net-worth families, family offices, foundations and endowments across the United States, today announced it has broadened its capabilities with the expansion of its financial administration division.
Financial administration services include bill pay, cash management, reconciliation, and customized reporting. Callan Family Office, which manages nearly $5 billion in assets, is making these and other services available to both its ultra-high-net-worth clients and to other single-family offices.
“Ultra-high-net-worth clients have complex finances that can make it difficult for them to get a clear picture of what they have, how their assets have performed, and how money was spent,” said Jack Ginter, Chief Executive Officer of Callan Family Office. “We created the financial administration division to bring all the puzzle pieces together, so clients can understand inflows and outflows and how best to manage all the moving parts to allow them to reach both their immediate and long-term goals.”
The handling of day-to-day administrative tasks such as bill pay can take significant time. Commonly, the process is manual, and clients have information spread across different systems, accounts, and providers. Using the firm’s custom technology and processes, Callan Family Office directly handles these daily activities, allowing clients to get a more holistic financial view, improve operational efficiency and mitigate risk.
Through these expanded services, Callan Family Office also focuses on helping clients achieve their specific financial goals, adjusting asset allocations to help them meet sizable ongoing expenses, such as the purchase and maintenance of a private aircraft, charitable initiatives, and other personal goals. The team also serves as liaison to the client’s accountant to provide reports and any tax items tracked throughout the year to aid in tax reporting.
“Many of our clients run multiple real estate projects, for example, using different LLC business structures to manage each property,” said Amy Jucoski, head of family office services. “Imagine the work that goes into paying bills, categorizing expenses, reconciling bank accounts, as well as recording assets and liabilities for each LLC business. Now layer in the client’s personal assets and day-to-day activities – it’s a lot for them to manage. That’s what we do for our clients and now, in support of other single-family offices.”
Cindy Chase, who over a 13-year period built and led the financial administration practice at Abbot Downing, Wells Fargo’s ultra-high-net-worth business, has joined Callan Family Office as director of financial administration.
The growth of Callan Family Office’s financial administration division mirrors the rapid expansion of the larger firm. Launched in 2022, Callan Family Office has 23 partners. As a partner-owned, fully independent firm, Callan Family Office—a fiduciary that is 100% aligned with clients—has built its practice around solving the complex needs of families of considerable wealth.
About Callan Family Office
Independently owned and operated, Callan Family Office was founded by experienced wealth professionals to provide investment management, thoughtful personalized advice, and holistic financial planning to ultra-high-net-worth families, foundations, and endowments. The firm's principals have spent their careers serving ultra-high-net-worth clients and institutions. Callan Family Office has agreements with Callan LLC to use the Callan ® tradename in providing investment advisory services to the ultra-high-net-worth market segment and to access Callan's institutional quality research, education, and investment guidance experience. Callan Family Office and Callan LLC are independent, unaffiliated investment advisory firms separately registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
Callan Family Office (CFO) is the exclusive trademark licensee of Callan LLC. Callan LLC provides products and services to CFO. Clients of CFO are not clients of Callan LLC, and the parties are not affiliated. CALLAN, CFO and the other Callan trademarks and service marks are registered and/or unregistered trademarks of Callan LLC and may not be used without its permission. INVESTMENT ADVISORY SERVICES AND PRODUCTS PROVIDED TO CLIENTS OF CFO ARE PROVIDED SOLELY BY CFO AND NOT BY OR ON BEHALF OF CALLAN LLC. REPRESENTATIVES OF CFO ARE EMPLOYEES AND AGENTS OF CFO AND NOT EMPLOYEES OR AGENTS OF CALLAN LLC.
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