2022 was a great year for Plumb, and 2023 is certainly getting off on the right foot!

We’re thrilled to announce that we are shortlisted for 2 awards from The Family Wealth Report:

• Property & Household
• Leading Individual – for our very own EVP, Anneke Stender

We are also shortlisted for these 3 awards as we announced last month:

• Technology Innovator of the Year Award at Citywealth’s Magic Circle Awards
• Best General Ledger System and the Best Partnership Accounting System at the Private Asset Management (PAM) Awards.

Thank you to The Family Wealth Report Awards for including us on your shortlist, and congratulations on 10 years of award-giving.

We wish the best of luck to our impressive list of co-shortlisted companies.

Stay tuned for the announcement of the winners.

Plumb Family Office Accounting & Bill Pay is a high-touch, hi-tech family office accounting and bill pay service provider whose solutions are custom designed to meet the needs of high-net-worth and ultra-high-net-worth clients and family offices.

With decades of experience in this distinctive and niche market, Plumb delivers financial peace of mind by assisting high-net-worth individuals and family offices know where their money is going, so their trusted advisors can effectively manage it. We work in partnership with their team — including wealth, CPA, and other advisors — to provide the highest quality of data and financial reporting to establish a holistic view of their assets and financial holdings. This gives them true control of their wealth and establishes the foundation for effectively implementing their financial strategies.

Let’s talk about how we can help you build trusted relationships with your clients.

Each one of your HNWI/UHNWI clients has a unique financial situation and looks to you to sort through the details to provide simple, clear reports that are meaningful to their lifestyle goals. Bringing clarity to a potentially complex financial landscape is no easy challenge, especially when each client is so unique.

To achieve that higher level of financial clarity, you need tools that will help you define and deliver. In the ebook 6 Essential Tools to Help You Manage HNWI/UHNWI Clients: Your Guide to Ensure Financial Clarity and Data Security, we help you understand design financial reporting that is focused on the unique needs of each one of your clients.

Built to fit

Your HNWI/UHNWI clients are unique, with diverse sets of portfolio and investment strategies that support very individual lifestyle goals. In the past, financial advisors often believed the only way to get the specific information they needed was to manually enter data from multiple sources into custom made spreadsheets. At Plumb, we are laser-focused on UHNWI clients and understand how emerging technologies, changes to accounting and reporting requirements, and security advances will impact your clients. Our team is dedicated to providing focused reporting that gives you the timely, clear insights that will allow you to be proactive with your clients. We can help you “pull it all together” with tracking and recording of 1099’s, K-1’s, charitable contributions, medical expenses, sales of stock, and all other income. You’ll have all the information your CPAs needs to prepare tax returns at your fingertips.

Agile, intelligent technology

With all the moving parts in the financial affairs of your HNWI/UHNWI clients, you need to continuously monitor and respond quickly. You need agile, intelligent technology to take a proactive approach to managing your client’s financial landscape. Plumb’s extensive experience with UHNWI clients combined with our understanding of Sage Intacct’s intelligent functionality can give you that edge. Tools built into Sage Intacct continuously monitor and analyze financial transactions to identify and alert for discrepancies and outliers—advancing your services from simple accounting to intelligent financial management.

Plumb uses Sage Intacct to automate reporting processes that connect disparate data sources and provide timely, complete information. Consolidation of multiple entities, bill payment, and streamlined financial planning processes all deliver focused reporting through customized, real-time financial dashboards.

Anytime, anywhere access

Financial clarity is only complete if you have the information you need on your phone or laptop anytime, anywhere. Complete transparency through web-based apps allows you to answer your client’s questions instantly. Customized, real-time financial dashboards deliver deeper insights into all areas of your client’s financial affairs. Secure web and mobile-based apps allow you to bring those insights with you safely no matter where you go.

Learn more about financial clarity for your HNWI/UHNWI clients

To help you simplify financial management and reporting your clients, please check out the ebook titled 6 Essential Tools to Help You Manage HNWI/UHNWI Clients: Your Guide to Ensure Financial Clarity and Data Security.

When you entrust the accounting, reporting, and data security details to true experts, you can focus on deeper, personalized, more strategic service delivery to your HNWI/UHNWI clients.

Plumb Family Office Accounting & Bill Pay is a high-touch technology family office accounting and bill pay service provider dedicated to serving the needs of high-net-worth and ultra-high-net-worth clients. Plumb ensures that your client’s bills are paid on time and works in partnership with you to deliver the highest quality data and financial reporting. In addition to our bill pay services, we also provide comprehensive Family Office Accounting support including tracking and recording of 1099’s, K-1’s, charitable contributions, medical expenses, sales of stock, and all other income.

Let’s talk about how we can help you build trusted relationships with your clients.

High net- and ultra-high net-worth individuals (HNWI/UHNWI) and family offices require a higher level of privacy and security assurances. As a trusted advisor, the tools you use to service your client’s financial needs need to meet world-class security standards. It’s difficult to focus on deeper, personalized relationships when you are constantly worried about protecting the privacy and data security of your clients.

In the ebook 6 Essential Tools to Help You Manage HNWI/UHNWI Clients: Your Guide to Ensure Financial Clarity and Data Security we’ll give you a clear understanding of what kind of security measures you should expect from your accounting and financial management partners.

Work with partners experienced with client privacy

At Plumb, we take security of customer data seriously. Operations are designed to ensure compliance with all data protection laws and regulations. State-of-the-art bank-level security and an in-house IT department provide additional monitoring and oversight. Plumb trains all employees specifically in the privacy best practices that apply to HNWI/UHNWI and family office clients.

Use software with world class privacy protection and data security

Highly confidential financial data requires software housed in data centers that meet high audit standards and are monitored 24/7/365 by security professionals. Security that only a world class software company like Sage Intacct can provide.

Sage Intacct applies the physical, network, application, and data security standards that protect the most private, critical data of your clients. External audits and other third-party certifications ensure financial information will be protected in a highly secure environment. Security features built into the Sage Intacct application prevent unauthorized programs, systems, and users from gaining access to resources and data. World class data centers are monitored 24/7/365.

Consistent quality control measures

Checks and balances are the keystone of professional level accounting and financial management. Quality control measures should ensure that no one person has control over all parts of a financial transaction. When working with a partner to deliver services to your HNWI/UHNWI clients, it’s critical that they can demonstrate how they establish the proper checks and balances in financial management.

Plumb follows a 7-phase process that features segregation of duties, multiple levels of review, and secure access. Using Sage Intacct as the unified accounting platform, transactional processes, consistent reviews, required authorizations, and user access are all systematically applied. Multiple sets of examination provide the checks and balances to prevent fraud and ensure accuracy.

The quality control measures integrated into the Plumb procedures, and the automated processes of Sage Intacct  reduce the opportunities for human error and fraud. Connecting data directly to vendors and other applications reduces the chance of errors due to manual data entry. By working with the experts at Plumb and their experience with Sage Intacct, you can take advantage of secure electronic payment options and timely reconciliations.

Learn more about privacy and security assurance for your HNWI/UHNWI clients

To help you maintain your focus on security as you work with your clients, please check out the ebook 6 Essential Tools to Help You Manage HNWI/UHNWI Clients: Your Guide to Ensure Financial Clarity and Data Security.

When you entrust the accounting, reporting, and data security details to true experts, you can focus on deeper, personalized, and even more strategic service delivery to your HNWI/UHNWI clients.

Plumb Family Office Accounting & Bill Pay is a high-touch technology family office accounting and bill pay service provider dedicated to serving the needs of high-net-worth and ultra-high-net-worth clients. Plumb ensures that your client’s bills are paid on time and works in partnership with you to deliver the highest quality data and financial reporting. In addition to our bill pay services, we also provide comprehensive Family Office Accounting support.

Let’s talk about how we can help you build trusted relationships with your clients.

 

Managing the bill payments for high net- and ultra-high net-worth individuals (HNWI/UHNWI) clients is a time-consuming and often frustrating task. Tracking down potential discrepancies, monitoring fraudulent transactions, working with vendors, and doing regular reconciliations are critical to maintain your client’s trust but take valuable time away from more strategic functions.

By working with a partner who specializes in bill payment for HNWI/UHNWI clients, you can spend less time in the accounting weeds and more time on high-value services. Plumb personal bill payment services handle the details of monthly personal bills and expenses.

Unique client requirements

As a trusted advisor to a special class of clients, you can’t risk working with inexperienced partners. At Plumb, we are laser focused on helping financial professionals like you serve HNWI/UHNWI and family offices. We have a proven track record of delivering bill payment, accounting, and financial reporting services to the clients you serve.

Proven HNWI/UHNWI client bill pay processes

Because bill payment services are one of the most time-consuming accounting tasks for HNWI/UHNWI clients, it makes good sense to consider outsourcing. A turnkey bill pay service should be designed to manage all the details of your client’s accounting, payment, and vendor management. At Plumb, accounts are closely monitored to identify any discrepancies or questionable transactions. Cash flow reporting, expense tracking, and bill payment are handled reliably and securely. Approving bills, viewing bill payment status, and communicating with the Plumb team takes full advantage of modern technology.

State-of-the-art technology supports better reporting

To maintain the levels of service your clients expect, bill payment needs to be managed by experts in both the Family Office space and the best-performing software for this niche audience. Plumb utilizes Sage Intacct  which can provide you with clear, detailed information that allows you to answer questions instantly. The automated processes of Sage Intacct simplify multi-entity consolidations, streamline bill payment, and provide timely reporting—all while reducing manual processes that take time away from higher-level services

Practices and processes to ensure data security

Security must always be top-of-mind for any service you provide to clients. Plumb’s bank-level security practices include real-time, 24/7 network monitoring and detection from in-house IT professionals. In addition to good data security practices, bill payment services should also have tight process controls in place.

Segregation of duties in bookkeeping and financial management provide an added level of security protection for your clients. Sage Intacct’s bill payment platform has checks and balances built in through automated processes. Plumb’s bill payment services include multiple sets of examinations to prevent fraud and ensure accuracy.

Learn more about the tools you can leverage to manage HNWI/UHNWI clients

To help you focus on the most important aspects of working with your clients, including bill pay, please check out the ebook 6 Essential Tools to Help You Manage HNWI/UHNWI Clients: Your Guide to Ensure Financial Clarity and Data Security.

When you entrust the accounting, reporting, and data security details to true experts, you can focus on deeper, personalized, and even more strategic service delivery to your HNWI/UHNWI clients.

Plumb Family Office Accounting & Bill Pay is a high-touch technology family office accounting and bill pay service provider dedicated to serving the needs of high-net-worth and ultra-high-net-worth clients. Plumb ensures that your client’s bills are paid on time and works in partnership with you to deliver the highest quality data and financial reporting. In addition to our bill pay services, we also provide comprehensive Family Office Accounting support.

Let’s talk about how we can help you build stronger relationships with your clients.

 

 

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