Research indicates that CPA clients are also seeking an upgrade in their services. Jean Caragher and Rick Telberg ( are quoted as saying, “CPAs need to be doing more to listen to client needs and anticipate their need for new and different services. Then they need to develop and deliver those new or different services. Significant gaps exist between what clients really think and what CPAs believe is important to their clients. These gaps indicate a need for CPAs to revise their thinking. They also indicate opportunities for CPA firms to make changes that will improve client satisfaction and retention.”

Could a joint venture alliance between CPA firms and Family Officers™ providing SME™ Family Office Deliverables be a genuine win-win?

The Family Office is different from traditional wealth management shops in that they offer a total solution to managing the financial and investment side of an affluent individual or family. For example, many family offices offer budgeting, insurance, charitable giving, family-owned businesses, wealth transfer and tax services. The Family Office can also handle non-financial issues such as arranging private schooling, travel and miscellaneous other household arrangements.

Whereas, the Family Office has been the domain of the uber wealthy… single family offices for the $100 million+ family… multi-family offices for the $25 million+ families… SME™ delivery processes now allow Family Officers™ to serve a community of 40-50 mass affluent clients with $1 million+.

Sovare is facilitating joint venture alliances between SME™ Family Officers™ and CPA firms to provide family office services to mass affluent families. By partnering with an SME™ Family Officer™… the CPA is able to upgrade their service deliverables in alignment with what the mass affluent want… and increase profitability without adding risk or overhead.