Private Wealth
Delivering bespoke, advanced family office and tax solutions with unparalleled service
Private Wealth
Baker Tilly’s private wealth professionals are committed to enhancing and protecting your legacy now, for tomorrow.
Growing your legacy and realizing your family goals is a complex process. You need a skilled collaborator who can walk with you, every step of the way. Our clients look to us for sophisticated guidance on how to navigate their highly complex financial journeys.
Baker Tilly is a leading private wealth advisory CPA firm that serves family offices, high-net-worth individuals and families with decades of experience. From financial and administrative services to tax planning and compliance, we offer bespoke, advanced private wealth services with unparalleled service.
Our primary services
We know that high-net-worth families and individuals are faced with new issues and decisions to make every day. Through our experience serving hundreds of private wealth clients, we regularly assist clients through their own once-in-a-lifetime events. Using our deep expertise, we offer customized solutions for the nuances of each family.
Family office services
Visit our webpageJust as every family is unique, every family office’s needs are unique as well. Baker Tilly works with each family to understand their goals and suggest forward-thinking solutions to meet and exceed them.
Due to the custom nature of our engagements, our family office services are scalable and offered a la carte. We can serve as a fully outsourced provider or complement an existing family office infrastructure. And we are consistently collaborating with outside advisors to ensure alignment and bring solutions that know no bounds. Our approach allows every client to have a tailor-made blueprint to protect today’s value and enhance tomorrow’s legacy.
Our comprehensive financial and administrative family office solutions include but are not limited to:
- Accounting systems
- Treasury management
- Accounts payable (bill payment services)
- Financial reporting
- Vendor management
- Cash management
- Payroll
- Human resources services
- Tax-package preparation
- Family office structuring
- Family office administration
- Insurance and risk management coordination
Tax planning and compliance
Visit our webpageTaxes are a certainty. For family offices and high-net-worth individuals, taxes can become complicated and cumbersome. That’s why Baker Tilly’s private wealth services practitioners take a proactive approach to tax planning and compliance. We work with our clients to optimize their tax situation and bring their vision for their legacy to life.
Our tax professionals offer services across a spectrum of tax compliance and planning. At our core, we cover annual income tax filings, including individual income, state, estate and gift as well as international. We also provide charitable contribution strategy, estimated tax payment recommendations and coach clients how to manage private foundations and endowments.
For clients requiring more advanced tax support, we propose a wide range of services. Examples include Alternative Minimum Tax assistance, tax deferral strategies and reporting as well as IRS and tax controversy support.
Beyond our traditional tax services, our international tax team provides guidance on complex residency rules, foreign tax credits and more. And our gift, trust and estate planning specialists are ready to assist with wealth preservation techniques. Whether your family legacy goals are growth-oriented, philanthropic, generational or a mix, we can help.
Above and beyond
In addition to our core services, Baker Tilly outmaneuvers the traditional CPA firm with our wide-ranging services and connections. Our bespoke approach translates to an ‘ask us anything, and we’ll deliver’ outlook.
For clients with more complex needs, we have a special team dedicated to serving you. Complexity is defined differently by each family, because every family is unique. However, we’ve found that clients with more complicated needs generally have a mix of the following:
- Multiple properties
- Several investment advisors
- Luxury assets (aircrafts, yachts, art collections, etc.)
- Household employees
- Multiple partnerships accounting
- Outsourced accounting for their business or foundation
- Valuation services
- Buy-sell transactions
Contact us for examples of how we help clients look beyond and map their future with our private wealth services.
Our commitment to financial, operational and administrative infrastructure makes us unique. We built our practice by concentrating on the niche areas that govern the lives of the families we serve. Doing so has enabled us to become specialists in the creation, development and design of bespoke solutions for our clients.Ron LaVelle, Managing Principal
What you can expect from us
Sophisticated solutions fueled by unparalleled service and collaboration
We take the best of boutique firms and pair it with the breadth and depth of the Baker Tilly ecosystem. Doing so allows us to work across Baker Tilly’s varied service offerings to deliver service beyond expectations.
Our wide range of services, specialties and proven methodologies are backed by the latest insights, trends and education. These advanced capabilities allow our professionals to address problems from new positions and challenge the status quo.
Forward-thinking strategies for the short- and long-term
Your legacy is a complex, ambitious quest to make an impact on those closest to you and on the world. That’s why our practitioners will work tirelessly to design and activate a personalized and holistic strategy aligned with your goals. As your priorities shift and scale, we will adapt our strategy to help you navigate potential pitfalls.
Relationships built on transparency and humanity
We commit to doing what’s right for you, not because we should, but rather we want to. We don’t avoid tough conversations but instead embrace opportunities to grow and explore with you as you expand your legacy. And while we are dedicated to delivering value, we always prioritize ethics, ensuring integrity, transparency and honesty along the way.
Family Wealth Insights
Tired of piecemeal investment reporting?
Explore our technology reporting solution, Family Wealth Insights powered by Addepar.
The Great Wealth Transfer is coming. Are you ready?
Baby boomers continue to shift their wealth to younger generations. In fact, Cerulli Associates notes that trillions of dollars are expected to be transferred over the next 25 years. Read our latest thought leadership to understand opportunities presented by the Great Wealth Transfer.
The ABC’s of making gifts: what clients need to know
This article explores common questions from individuals interested in making gifts, including what qualifies as a "gift" and the key steps involved.
Give it away now? The sunset of the gift and estate tax exemption is around the corner
The sunset of the gift and estate tax exemption is around the corner. What’s at stake for those who can afford to use the higher exemption?
Inflation increases present more opportunities for smart gift giving
Projected inflation increases to the gift and estate tax basic exclusion and the gift tax annual exclusion present opportunities for smart gift giving.
Proposed regulations would “claw back” gift tax exemption for certain gifts
The IRS adopted the "anti-clawback" rule in final regulations published Nov. 26, 2019. Read our article to learn more about the proposed regulations.
Private wealth leadership team
Latest private wealth services insights
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Tax policy: the implications of a Republican sweep for individual taxpayers
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TCJA sunsets: why financial planning is critical for your estate
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Federal and California political donation limitations and reporting requirements
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The day after: What to do with redemption agreements funded with life insurance after the Supreme Court’s decision in Connelly
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How SECURE 2.0 employer tax credits benefit small businesses
Read our article for insight into how employer tax credits support small businesses while establishing retirement plans.
Navigating fiduciary responsibility in the era of fee compression: the imperative of due diligence in retirement plan management
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Independent, not-for-profit hospital enhances efficiency and reduces cost through 403(b) plan optimization
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IRS targets certain charitable remainder annuity trust transactions
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Wealth management vocabulary – investment terms you should know
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Leveraging Addepar for comprehensive oversight of your financial universe
Watch our demo to see how we leverage Addepar to transform how family offices and ultra-high-net-worth clients visualize and interact with their wealth.
Act now and secure your employees’ future with a 401(k) plan
Read our article for insight on why retirement plans are a key element to providing a comprehensive benefits package for your employees.
The Corporate Transparency Act: What you need to know now
Read our article for insight on the Corporate Transparency Act and what entities are subject to reporting requirements.
Required minimum distributions: Frequently asked questions
What is a required minimum distribution as it relates to an Individual Retirement Account? When do I take it? Read our article to learn more.
Important Massachusetts tax relief impacting individuals, estates and businesses
Read our article for a list of key provisions that Massachusetts tax payers will benefit from.
Now is the time for year-end financial planning
Now’s the time for year-end financial planning. Download our checklist to maximize your outcome for 2024 and prepare for 2025.
Making the unexpected, expected
Read our e-book for insight on financial scenario planning as it relates to death, divorce and other life events and why it’s important to start planning now.
Double whammy! Be careful to properly time pre-sale gifts of appreciated stock to charity
The Tax Court recently addressed what can happen when gifts of appreciated stock to charity occur in close proximity to a sale of a company. Read our article to discover more.
It’s a wonderful life … thanks to insurance protection
Read our article for insight on bank failures, what mechanisms are in place to protect investor money and steps investors can take to prevent economic misfortunes.
A family office evolution
Read our article for insight on the progression of how a family office can grow and change over time.
Drawing from history to help lessen inflation’s impact on investors
Read our article for insight on what causes inflation and how it may affect your investment strategy.
The need for governance in family-owned businesses
Read our article for insight on best practices for establishing a decision-making process and governance structure for family-owned businesses.
State income tax planning with ING trusts
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Exit planning for your business
Baker Tilly Wealth Management’s Kelly Baumbach joined Mark Imperial’s Business Innovators podcast for an episode focused on exit planning.
Tax extensions: Plenty to know, but nothing to fear
Read our article for insight on what tax extensions are, why people request them and who can benefit from filing for an extension.
Why diversification in your portfolio still matters
Read our article for insight on why it is critical for investors to have a strategy within their portfolio and are diversified in their holdings.
SECURE Act 2.0 provisions for individuals
President Biden signed the 2023 Consolidated Appropriations Act (CAA) into law on Dec. 29, 2022. Read our article for a summary of provisions for individuals.
Executive compensation: equity compensation continuum
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The basics of estate planning
Download our e-book, “The basics of estate planning” for an easy-to-understand introduction to protecting your assets and ensuring your legacy.
Estimated taxes for individuals: The who, what, where, when and why
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Supercharge the sale of your business with a charitable remainder trust
Charitable remainder trusts are one way business owners can achieve not only their charitable giving goals but also their business exit goals as well by reducing their overall tax payment.
Are you prepared to transition your family business?
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Options for funding a buy-sell agreement: the case for life insurance
Do you know what will happen to your business interest in the event of your death? Read our article to learn more about buy-sell agreements.
Boost family wealth with dynasty trusts
Dynasty trusts are designed to minimize taxes over multiple generations. Read our article to learn how they boost family wealth.
Managing your inheritance
Download Baker Tilly’s generational wealth e-book to learn best practices for managing your wealth including tips for saving, investing, taxes and more.
Baker Tilly US, LLP and Baker Tilly Advisory Group, LP and its subsidiary entities provide professional services through an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable laws, regulations and professional standards. Baker Tilly US, LLP is a licensed independent CPA firm that provides attest services to clients. Baker Tilly Advisory Group, LP and its subsidiary entities provide tax and business advisory services to their clients. Baker Tilly Advisory Group, LP and its subsidiary entities are not licensed CPA firms. © 2024 Baker Tilly Advisory Group, LP