BlackSummit Family Office is a turn-key service offered to individuals who desire to have one firm coordinate, report and advise on all financial matters. With this service, a weekly, bi-weekly, or monthly face-to-face meeting is performed with our client where a customized, easy to understand, financial report is provided and discussed. The report will vary from client to client, based on client preference, but will typically contain up-to-date consolidated and individual cash balances, up-to-date consolidated investment balances and consolidated investment performance results as well as investment performance results per investment advisor. Reporting will normally include monthly income and expense projections, as well as monthly cash flow projections.
A very important additional function of the BlackSummit Family Office is to proactively coordinate systematic meetings with key advisors, such as the CPA and estate planning team in order to stay informed of important upcoming matters pertaining to the overall estate plan, including, but not limited to asset protection and the minimization of income and estate taxes. We have found that this coordination will help eliminate gaps, overlaps, and unnecessary conflicts normally associated with larger estates.