FORS (Family Office Reporting Solutions) was established in 2005 in Bermuda by management and staff of the Ernst & Young Private Client Services Group as a result of Ernst & Young International refocusing its global practice on the core services of audit and tax.
Our team is composed of experienced, qualified accountants, Chartered Financial Analysts and trust professionals with extensive family office and investment accounting and reporting experience.
FORS Services
You can think of FORS as a 'virtual family office CFO', our services include:
Complete accounting outsourced solution
- General ledger accounting
- Partnership accounting
- Trust accounting
- Portfolio/investment consolidated accounting
- Accounts receivable / payable
- Multi currency
Customized Reporting
- Reporting solutions designed to meet specific needs of clients
- Includes
- Consolidated reporting
- Net worth snapshots
- Portfolio valuations
- NAV calculations
- Financial statement preparation
Investment Monitoring and Performance Measurement
- Asset allocation analysis
- Performance reporting
- Benchmark analysis
- Peer analysis
- Risk and return analysis
- Attribution analysis
- IRR analysis
- Liquidity analysis
- Covenant compliance monitoring
- Analyst reporting and market commentary
Other Services
- Online document storage provision
- Coordination of family advisors and service providers
- Maintaining company minutes and records. Provision of registered office.
- Bill pay, invoice creating, wire preparation
- Organizing and administering family meetings and assistance in the education of family members
- Preparation of financial budgets and forecasts including 'what if' analysis
- Establishing family office internal controls, policies and procedures
- Preparation of investor policy statements and objectives
- Access to best-in-class family office advisors and service providers via our strategic relationships
Technology
FORS employs the leading cutting edge family office technologies (including ATWeb, Pertrac, Morningstar Direct), which provide:
- On demand access to comprehensive financial records, reports, documents via a secure web hosted portal
- Real time access to consolidated portfolio summaries, valuation and performance data, investor activity, asset allocation and net worth summaries
- Customizable, easy to read dashboard views, with ability to drill down to the transaction level
- Fully integrated general ledger, portfolio and investor accounting
- Ability to create different viewing and access privileges to different family members or advisors
- Report creation capabilities enable users to access current and historic financial information
- View of complex nested relationships and entity level exposures via a single click of a button
- Document manager provides web access to important family office documents using the same login
- Automated data aggregation: Automated data feeds from custodians reduce the risk of manual input errors and the amount of time spent on maintaining control of operations.
We are completely independent and receive no referral fees, etc., from anyone. Our advice is always purely in our client's best interest only.
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