Family offices are at a turning point. For decades, they’ve been handed tools that don’t fit, advice that doesn’t work, and systems that can’t scale. The result? Wasted resources, mounting frustration, and untapped potential.

The Corporate Transparency Act (CTA) brings new complexity to family offices—particularly with trusts. To navigate this landscape, these organizations are embracing modern approaches to make compliance thorough, efficient, and penalty-free—not only for initial filings but also for ongoing regulatory management.

In a recent webinar, Robert Forsythe (CEO, Third Lake Capital), Tebbi Purvis (President & CFO, Third Lake Solutions), Jill Creager (Founder & CEO, iPaladin), and Michael Purcell (Canoe Intelligence) shared insights into how modern family offices are transforming their operations through the iPaladin/Canoe integration.

With the introduction of the Corporate Transparency Act (CTA), the compliance landscape for family offices has shifted dramatically. Where banks once bore the responsibility for reporting Beneficial Ownership Information (BOI) under Customer Due Diligence (CDD) rules, that duty now falls to you, the family office managers. This shift not only changes who reports but also how information is verified, as banks now must ensure the accuracy of your submitted details in line with new standards. This article will help you navigate these changes, understand what they mean for your operations, and reveal how leveraging advanced governance systems can transform a regulatory mandate into an opportunity for increased operational efficiency and strengthened asset protection.

In a recent article, published by Crain Currency, iPaladin's CEO & Founder, Jill Creager and advisory board member, Jennie Cherry discuss the disruptive nature of the Corporate Transparency Act (CTA) as well as the opportunities it provides for Family Offices.

On March 1, 2024, a critical decision by a US District Judge marked a turning point for family offices. The ruling that the Corporate Transparency Act (CTA) is unconstitutional presents both a challenge and an opportunity. In a landscape defined by regulatory uncertainties, the decision invites family offices to rethink their approach to compliance and risk management.

This white paper begins to detail how iPaladin has brought family office management into a new era utilizing their patented SmartRecords technology.

This white paper dives into a detailed explanation of how iPaladin's Digital Family Office operating system provides a collaboration ecosystem that empowers professionals and the family to deliver greater clarity, consistency, and control over all elements of the family business.

After 25 years of working in the brokerage and wealth management sector, S.W. was asked to stand up a family office for a long-term client. Equipped with skills acquired over years of raising capital, handling M&A transactions, and managing wealth, S.W. saw an opportunity to merge these capabilities to serve complex family financial ecosystems.

R.F., a family office director, identified a common challenge in many family offices - they often grow without a structured plan, leading to inefficiencies and knowledge gaps. iPaladin offered a comprehensive solution, streamlining workflows, document management, and communication. It improved transparency, reduced audit times, and ensured operational continuity, emphasizing the importance of embracing technology in family office management.

In a world where wealth management is increasingly complex, M.S., a fourth-generation family leader, faces a significant challenge: as wealth grows across generations, access to actionable information decreases, leading to miscommunication, progress impediments, and increased cost and risk.

Interview with Jennifer Ayers. Jennifer Ayers, COO of Private Office, shares her InfoSec insights and the latest trends she sees on the rise. She is a 20-year cybersecurity industry veteran with extensive experience protecting organizations against sophisticated cybersecurity threats and data breaches, including COO at DNS Filter, Vice President of Overwatch and Security Response at CrowdStrike.

A successful family office principal initially believed his wealth management systems were well-organized. However, upon adopting iPaladin and creating his Digital Family Office (DFO), he discovered significant gaps in his approach to document management, ownership, and compliance notes. His journey illustrates the importance of a robust, structured, and flexible system like iPaladin for efficient family wealth management.

When entrusted with the role of overseeing the family office, a third-generation leader keenly discerned deficiencies in organizational structure, legal adherence, and tax compliance, underscoring the imperative of implementing pragmatic governance. The discovery of iPaladin presented a breakthrough solution—an adaptable platform poised to serve as the bedrock of the family office, ensuring uninterrupted operations and imparting valuable knowledge to the younger generations. With iPaladin poised as a catalyst for change in the family office arena, it holds the potential to revolutionize the preservation of family legacies, promising a brighter future.

Microsoft 365 is widely used for daily business operations, but it falls short in meeting the unique needs of a family office.

iPaladin is a comprehensive digital operating system designed for family offices, offering an interconnected platform to efficiently manage complex wealth operations.

Managing a family office involves complex tasks that often cannot be effectively addressed by traditional CRM platforms like Salesforce.

The wealth management industry has grappled with issues like limited access to information, communication breakdowns, and inadequate records, especially in complex private wealth management scenarios involving various professionals and roles.

Blockchain technology's true power lies not just in its capabilities but in the empowerment it offers to users.

The landscape of data security and compliance for family offices has just entered a new era, driven by the IRS's formidable $80 billion funding allocation, a significant portion of which is aimed at high-net-worth portfolios.

In the world of immense wealth and family legacies, the decisions made today echo through generations, creating a profound impact on the family's future.

This article emphasizes how inefficiencies in managing great wealth can divert attention from wealth maximization, leading to missed opportunities and a backward-looking focus on risk mitigation.

The IRS's renewed focus on its "Wealth Squad" emphasizes the need for family offices to proactively prepare for potential tax reviews, with digitization playing a crucial role in achieving a favorable outcome.

Collaboration is a fundamental element of success in family office environments, where multidisciplinary teams work together to deliver excellence to their clients.

Digitization has both aided and hindered knowledge workers, including asset managers, CPAs, lawyers, accountants, and bankers.

Family offices often face challenges in managing and maximizing wealth due to a lack of shared collaboration practices among their multidisciplinary teams.

Collaboration is essential in the world of knowledge work, especially in family offices where diverse skill sets often come from various sources.

Over the past 25 years, the digitization of work processes has promised increased efficiency for knowledge workers, yet the reality often falls short.

The article highlights the often underestimated importance of treating wealth management as a data management challenge for affluent families.