Families Institutions

We go beyond problem solving and treat our clients like family. We focus on the details, so you don’t have to. We do it all.

Family Office
Investment Services Family Office
Personal Services Individuals
Family Office
Investment Services Family Office
Personal Services Individuals

Our clients have sophisticated and complex investment situations, so we are nimble in our approach to providing highly customized solutions.

We offer insightful guidance for navigating governance and other challenges that multiple generations face. With a commitment to empowering our clients and their families, we are their relentless advocates, offering the expertise and educational opportunities to help pursue their goals and the humility to prioritize their best interests.

Family Office
Investment Services

Since PermCap's founding in 2011, our team has proudly served as the dedicated family office to Joe Steinberg. Our commitment to providing high-net-worth families with a bespoke, comprehensive solution is not just a part of our approach, it's engrained in our purpose.

As a Multi-Family Office, PermCap is highly experienced in preserving and growing generational wealth, while understanding the varying values, dynamics, and priorities of each family. 

Our Approach In Practice

As part of our investment management, our family office investment engagements include:

  • Consolidated, multi-manager investment reporting
  • Exclusive access to proprietary co-investments
  • Access to custom PermCap portfolios

Family Office
Personal Services

Managing a family’s intricate financial dealings requires experience, expertise and a high level of personal attention and genuine care – the exact type of service that the PermCap team is proud to deliver to our clients every day.

Our Approach In Practice

In addition to investment management, our client support and administration services include:

  • Bill pay
  • Consolidated reporting
  • Tax coordination and trust advisory
  • Financial management and reporting
  • Property management and reporting
  • Real estate accounting services
  • Family governance and succession planning
  • Financial training and education for the next generation

Individuals

Every individual has a distinct set of circumstances – such as compensation arrangements or tax scenarios – or particular long-term goals – such as philanthropic strategies. As part of addressing the holistic needs of the family, we home in on each individual to ensure their needs are addressed and, where appropriate, integrated into a grander plan.

Our Approach In Practice

In addition to investment management, our services include:

  • Financial planning
  • Retirement income
  • Budgeting and cash flow analysis
  • Generational transfer planning
  • Charitable giving strategies
  • Estate planning
  • Education planning

FAMILY OFFICE INVESTMENT SERVICES

Optimizing Wealth Transfer for a Multi-Generational Family

Goal

PermCap was engaged to create a stable investment structure for a family trust involving a multi-generational family

Challenges

  • The PermCap team needed to unite not only family members, but also two independent trustees to establish cohesive governance
  • The trust needed to provide beneficiary income in a zero-interest rate environment

Steps Taken

  • PermCap crafted an Investment Policy Statement (IPS) for the trust, setting the foundation for management
  • PermCap formulated an “Investment Committee,” comprising the trustees, lawyers, family members and a member of the PermCap team
  • PermCap instituted quarterly distributions, processed annual audits and arranged for tax preparation
  • PermCap implemented an annual distribution to eliminate friction with the beneficiary/remainderman

Outcome

  • Long-term capital preservation, while covering the beneficiary distribution
  • Multi-generational stability
  • Quarterly meetings to review investment performance, legal affairs and family matters
  • Consolidated financial reporting and enhanced visibility for future generations
  • Annual agreed upon procedures reviewed by third-party CPA firm

Family Office Personal Services

Investment Client Seeking Family Office Personal Services

Goal

PermCap was engaged to provide consolidated reporting, bill pay, and budget projections for a high-net-worth multi-generational family with multiple custodians

Challenges

  • The family’s portfolios spanned numerous custodians and asset managers and included a wide range of asset allocations
  • The family generated a high volume of bills and would require bill pay services for over a dozen investment and personal properties

Steps Taken

  • PermCap implemented a proven and effective bill pay process: bill submission, client approval, account funding, and clear reporting
  • PermCap integrated the family’s personal bill pay activities into our existing investment reporting to create a comprehensive picture of their assets

Outcome

  • Seamless and efficient bill pay experience
  • Full financial reporting and visibility
  • Maximum convenience with the client’s investment and family office data all in one place
  • Quarterly meetings to discuss investment performance and family office reports
  • Monthly cash management meetings to discuss bills and anticipated expenses

Family Office Personal Services

Bill Pay for a Family-Owned Hotel

Goal

An existing PermCap client purchased a hotel and engaged the firm to transition and execute the bill pay and accounts payable processes

Challenges

  • Bookkeeping, accounts payable, and financial reporting had to be transferred from the previous owner, a large corporation, to the PermCap Family Office Personal Services team in a limited time frame

Steps Taken

  • PermCap worked closely with the hotel staff and previous owners to learn existing processes and ensure a smooth transition
  • PermCap interviewed and hired outside tax preparers

Outcome

  • Coordination of tax preparation
  • Streamlined reporting and bookkeeping process
  • Management of accounts payable process

Individuals

Streamlining Financial Management for Trust Inheritor

Goal

PermCap was engaged to provide oversight for an inherited trust through our comprehensive family office offering

Challenges

  • There was no investment strategy or investment management in place at the time of the inheritance
  • The inheritor was looking for a line of credit with more favorable terms

Steps Taken

  • PermCap developed a robust investment program that would align with the client’s risk tolerance and long-term performance objectives
  • Becoming fully cognizant of additional opportunities to streamline the client’s financial management, the PermCap team established bill pay and accounting services, as well as payroll assistance

Outcome

  • Income generating portfolio created with regular distributions and long-term capital growth
  • Quarterly meetings held with the client and investment team for performance review and market updates
  • Peace of mind resulting from bill pay, accounting, and payroll assistance
  • Below-rate mortgages attained by aggregating balances
  • Favorable financing terms secured through PermCap’s value-added banking relationships