Wealthy families, with complex business and investment affairs, often create an administrative centre, called the Family Office. Its purpose is to provide the family with administrative services, such as banking, bookkeeping, financial reporting, tax compliance, and acting as intermediary to family accountants, law firms and brokerage firms. The World Bank defines the Family Office as an investment and administrative centre that is organized and overseen by family (either informally, by the principal owner, or more formally, through a family council)
Bruce owned his own accounting practice for twenty-three years. During that time he had numerous opportunities to assist wealthy family clients with matters beyond accounting and tax return preparation. Since selling his practice in 2014, he has managed a family office in Calgary on a contract, part-time basis. Bruce is now offering this service to other families. Services provided on this basis include the following:
Accounting
Tax Planning
Investments
Reporting
Management