In 2023, a study revealed that76% of high-net-worth individuals (HNWIs)felt they needed guidance on investment management. Many expressed concerns about preserving wealth and preparing for the next generation. This is because managing significant wealth goes beyond routine accounting. The complexities of wealth management require not just any certified public accountant (CPA) but rather one who specializes in managing the portfolios of the wealthy. The best firms manage day-to-day financial activities and offer tailored services that address the needs of affluent individuals, from tax minimization strategies to multi-generational estate planning. They understand the complexities of diverse asset portfolios, international investments, and charitable giving, helping you optimize your financial position while minimizing risks. In the following sections, we’ll explore the top accounting firms equipped to serve high-net-worth individuals.
An accounting firm for high-net-worth individuals (HNWIs) is a specialized firm that offers tailored financial services to individuals with substantial assets. HNWIs have at least $1 million in liquid or investable assets, excluding primary residences and collectibles. These firms offer expertise in tax planning, estate management, wealth preservation, and investment strategy. Other key services provided by accounting firms for HNWIs include:
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Sam’s Listis a platform that simplifies the search for top-tier financial professionals. We offer carefully curated recommendations, ensuring you access reliable and trusted accountants tailored to your financial needs. The process is straightforward. Our platform collects recommendations from business owners and high-income individuals, ensuring every accountant listed has a proven track record. You can see who endorsed each accountant and why, helping you make informed decisions based on real experiences. From there, you can contact accountants directly or get matched with one based on your specific financial needs through a personalized quiz. The accountants on Sam’s List are carefully vetted. Before being listed, the platform’s team thoroughly reviews each to confirm their expertise, specialties, and pricing. Some even offer integrated calendar booking, allowing you to schedule a consultation easily. We also operate without paid promotions, so our recommendations are unbiased and trustworthy. We focus solely on helping you find the best financial partner to protect and grow your wealth.
Geffen Mesheris a well-established accounting firm that specializes in offering financial services tailored to the needs of high-net-worth individuals and privately-held businesses. With a strong reputation fordelivering expert guidance, the firm focuses on complex tax planning, estate and trust management, and family office services. Their client-centered approach combines personalized attention with deep industry expertise to help affluent individuals optimize their wealth strategies. In addition to personal financial services, Geffen Mesher providescomprehensive advisory and consulting solutions for businesses, helping them navigate everything from mergers and acquisitions to strategic growth. With a focus on bothlocal and international financial needs, the firm is equipped to handle cross-border tax issues, ensuring compliance and financial efficiency. For individuals and businesses seeking sophisticated financial solutions, Geffen Mesher is known for delivering customized, high-quality service.Key Features of Geffen Mesher
Chandler & Knowles CPAsis a full-service accounting firm known for its comprehensive approach to tax planning, financial consulting, and business advisory services. The firm provides tailored financial solutions to individuals and businesses, particularly high-net-worth clients who require sophisticated tax strategies and financial planning. Chandler & Knowles stands out for itsintegrated approach, combiningtax preparation, advanced tax planning, and risk assessmentto help clients maximize financial opportunities and minimize liabilities. One of the firm’s core principles is forward-thinking financial management. The firm helps clients reflect on past financial activities andstrategically plan for future growthand security. They use theLifetime Economic Acceleration Process (LEAP)and theDynamic Wealth Buildersystems to help clients better organize and control their financial world and ensure that all aspects of their finances work harmoniously.Key Features of Chandler & Knowles CPAs
1-800Accountantis an online accounting firm that provides a wide range of financial services tailored primarily for small businesses. Still, its offerings can be valuable for high-net-worth individuals seeking tax, payroll, and bookkeeping support. The firm emphasizes simplicity and accessibility by matching clients with dedicated CPAs specializing in industry and state-specific regulations. Under a flat-rate pricing model, they help customers with business formation, personal or business tax preparation, or ongoing bookkeeping. Their approach is designed for flexibility and efficiency. They allow clients to manage their accounting needs through asecure online portalandmobile app. These tools let youupload important documents, track mileage, generate reports, and communicate with your assigned accountant. You also benefit from year-round support, ensuring you’re not scrambling during tax season or missing out on potential savings. The cheapest plan starts at $179 per month billed annually.Key Features of 1-800Accountant
INSIDE Public Accounting (IPA)is a leading resource in the public accounting industry. It offers critical insights and practice management resources to help accounting firms thrive. For over 35 years, IPA has been a trusted source for benchmarking data and trends, making it a go-to platform for firm leaders who want to improve financial performance, operational efficiency, and strategic growth. IPA is most well-known for its annual rankings of theTop 500 Accounting Firmsin North America, including the prestigiousBest of the Bestlist, which evaluates firms on more than 50 financial and operational metrics. These rankings provide insights into the industry's top-performing firms, highlighting excellence in areas such as profitability, growth, and client satisfaction. By offering data-driven reports, IPA helps firms identify areas for improvement and set benchmarks against their peers.Why It Matters: For high-net-worth individuals or businesses looking to partner with a top accounting firm, IPA’s rankings provide a valuable resource for finding firms that demonstrate exceptional performance, growth, and client focus.Key Features of INSIDE Public Accounting
PwC(PricewaterhouseCoopers) is one of the world's largest and most prestigious professional services networks, serving clients across 152 countries. For high-net-worth individuals, PwC offers specialized services intax planning,wealth management, andcompliance, focusing oninternational tax services,family office management, andESG (Environmental, Social, and Governance) reporting. PwC’s holistic approach integrates human expertise with advanced technology solutions, such asAI-driven financial tools, to help you optimize and protect your wealth. Additionally, PwC's commitment to sustainability andNet Zero initiativesmeans that you can also incorporate ethical investing and environmental considerations into your financial strategy.Key Features of PwC
Deloitteis one of the largest and most prominent professional services firms globally, making it a top choice for high-net-worth individuals (HNWIs) looking for comprehensive financial services. Deloitte offerswealth management,tax planning,family officeservices,anddigital transformation solutions, helping clients manage and grow their assets. You’ll get estate, gift, inheritance, and trust planning solutions. This includes evaluating and resolving complex tax consequences related to these areas and ensuring that your wealth is preserved and transferred efficiently. Deloitte also supports establishing and operating family offices, providing services from formation to ongoing management. This includes tax compliance, advisory services, and next-generation family governance to sustain the family legacy.Deloitte Private, the brand under which Deloitte serves HNWIs and family enterprises, takes a holistic approach. This involvescombining local knowledge with an international networkto address the interrelationships between privately held businesses, their owners, family offices, and employees.Key Features of Deloitte
EY (Ernst & Young)is a leading professional services firm that offers specialized financial and tax services tailored to high-net-worth individuals (HNWIs). It provides comprehensive tax services, including income tax compliance, advisory services, and wealth planning. EY’s global presence and extensive experience make it particularly adept at handling the complexities of wealth management, succession planning, and cross-border tax issues. For HNWIs, EY focuses on helping clientspreserve wealth, manage multi-jurisdictional tax obligations, and navigate complexregulatory environments. Throughfamily office services, EY assists in creating formal governance structures, enabling families to handle succession planning, investment strategies, and philanthropy. The firm also advises onmulti-jurisdictional residency and mobility, ensuring clients know the tax and legal implications of relocating or owning assets across borders. Additionally, EY helps clients stay compliant with evolving tax transparency obligations, such as FATCA and CRS, while identifying opportunities for tax optimization.Key Features of EY for HNWIs
Grant Thorntonoffers specialized services for high-net-worth individuals (HNWIs) through itsPrivate Wealth Servicesdivision. The firm focuses onwealth preservation, tax advisory, estate planning, andbusiness succession planning. Its advisory services include corporate finance, strategic advice, management assessment, operations and post-deal services, risk management, recovery, and reorganization. Their private wealth experts collaborate with attorneys, trustees, and investment advisors to ensure a holistic approach to wealth management. Grant Thornton is particularly known for its ability to help clients withmulti-jurisdictional tax planningandcompliance, making it ideal for individuals with international assets or businesses. They also offerfamily office services, ensuring your family's financial structure is well-governed and prepared for long-term wealth transfer. Their experts are committed to addressing all aspects of wealth management, fromestate planningtophilanthropy, allowing you to focus on your financial legacy.Key Features of Grant Thornton for HNWIs
Croweis a global network of independent accounting and consulting firms that provides clients with services across various industries through its Private Wealth division. Crowe delivers comprehensive financial planning, tax advisory, and estate planning services to help affluent individuals and families manage, preserve, and grow their wealth. Leading industry guides, such as theChambers High Net Worth Guide, have recognized their Private Clients team for their exceptional work in supporting HNWIs and their unique financial needs. Crowe’sholistic approachensures that clients receive personalized advice on tax compliance, cross-border tax planning, and succession planning, making it an ideal partner for those with international assets or complex financial portfolios. The firm also specializes infamily business advisory, helping clients navigate the intricacies of family governance, wealth transfer, and business continuity planning.Key Features of Crowe for HNWIs
High-net-worth accounting firms provide various specialized services tailored to the unique financial needs of individuals with substantial assets. Some of the key services include:
The fees charged by high-net-worth (HNW) accounting firms vary significantly based on the complexity of services required, the geographic location of the client, and the firm's reputation. For tax preparation, individual services for HNWIs typically range from$500 to $1,500 or moredepending on the complexity, especially if they own multiple properties, have international interests, or require advanced tax planning. Business tax filings, particularly for larger or more complex businesses, can easily exceed$2,000annually. For comprehensive wealth management services, including estate planning, succession planning, and family office advisory,fees are often structured as a percentage of assets under management (AUM). This could be around1% to 2% of AUMannually. For ultra-high-net-worth individuals, firms may charge between$50,000 to $100,000 or more per year, depending on the scope of services such as cross-border tax planning, risk management, and investment strategy. Hourly rates for advisory services at top-tier firms like PwC, Deloitte, and EY can range between$300 to $1,000 per hour, especially when working with senior partners or specialists in niche areas like international tax or corporate structuring.
Choosing the best accounting firm for high-net-worth individuals (HNWIs) in 2024 requires a strategic approach to ensure the firm aligns with your unique financial goals and needs. Here are the key factors to consider:
Finding the right accounting professional for your financial needs can be challenging, butSam’s Listsimplifies the process. With a curated selection of highly recommended accountants, CPAs, and tax strategists, you can feel confident knowing that every option has been vetted for quality and trustworthiness.Sam’s Listconnects you with experts who understand the complexities of high-net-worth financial management.ExploreSam’s List, browse through top-rated professionals, or take a personalized quiz to find the accountant best suited to your goals.
What is an Accounting Firm for High Net Worth?
An accounting firm for high-net-worth individuals (HNWIs) is a specialized firm that offers tailored financial services to individuals with substantial assets. HNWIs have at least $1 million in liquid or investable assets, excluding primary residences and collectibles. These firms offer expertise in tax planning, estate management, wealth preservation, and investment strategy. Other key services provided by accounting firms for HNWIs include:
High-net-worth individuals often require sophisticated accounting solutions to manage their assets, minimize tax liabilities, and ensure compliance with ever-changing financial regulations. An accounting firm with this focus understands the unique challenges and opportunities of managing significant wealth and provides personalized services to help clients protect and grow their financial portfolios.
- Estate and Trust Planning: High-net-worth accounting firms assist clients with creating and managing trusts, ensuring that their assets are transferred according to their wishes while minimizing estate taxes.
- Wealth Management and Asset Protection: These firms advise on investment strategies, asset allocation, and risk management to help HNWIs protect their wealth against market volatility and other financial risks.
- Philanthropy and Charitable Planning: They also help plan charitable donations to maximize tax benefits while aligning with the client's philanthropic goals.
- Family Office Services: Many firms offer family office services, which provide a comprehensive suite of financial and administrative services to manage all aspects of a family's wealth, including investments, tax strategy, and legacy planning.
Best Accounting Firms for High Net Worth at a Glance
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1. Sam's List
Sam’s Listis a platform that simplifies the search for top-tier financial professionals. We offer carefully curated recommendations, ensuring you access reliable and trusted accountants tailored to your financial needs. The process is straightforward. Our platform collects recommendations from business owners and high-income individuals, ensuring every accountant listed has a proven track record. You can see who endorsed each accountant and why, helping you make informed decisions based on real experiences. From there, you can contact accountants directly or get matched with one based on your specific financial needs through a personalized quiz. The accountants on Sam’s List are carefully vetted. Before being listed, the platform’s team thoroughly reviews each to confirm their expertise, specialties, and pricing. Some even offer integrated calendar booking, allowing you to schedule a consultation easily. We also operate without paid promotions, so our recommendations are unbiased and trustworthy. We focus solely on helping you find the best financial partner to protect and grow your wealth.
Sam’s List Features
Sam’s List offers various features that make it a valuable resource for high-net-worth individuals seeking the best accounting firms.- Curated Recommendations: Sam’s List offers a carefully vetted selection of accountants, CPAs, and tax strategists, all recommended by high-income individuals and business owners who have personally worked with them. Each accountant is reviewed for their expertise, services, and client satisfaction.
- Endorsements and Reviews: The platform lets you see who has endorsed an accountant and why. This transparency ensures you can trust the professionals listed, as real experiences from individuals with similar financial needs back their reputations.
- Public Q&A: Users can publicly ask accountants questions directly on their profile pages. This feature lets you clarify your needs and assess whether the accountant is the right fit before contacting them privately.
- Personalized Matching: Sam’s List offers a personalized quiz to help match you with accountants based on your unique financial situation.
- Integrated Calendar for Easy Scheduling: Some accountants on the platform have integrated calendars, making booking a consultation simple without the back-and-forth hassle of email scheduling.
- No Commercial Incentives: The platform is not influenced by paid promotions or partnerships, ensuring that the recommendations are unbiased and focused solely on helping you find the best accountant for your financial needs.
Pricing
Sam’s Listdoesn’t charge for accessing its platform. It’s free for you to research and connect with accountants, CPAs, and tax professionals. You can browse through the list of vetted accountants, review their services, and even book consultations without any costs imposed by Sam’s List itself. The listed accountants have pricing models for their services, often provided during vetting and available upon contacting them. Since Sam’s List operates independently and without commercial incentives, there are no hidden fees or paid promotions, ensuring that the recommendations remain unbiased and focused on your financial needs.Pros of Sam's List
- Comprehensive, curated listings of the best accounting firms for high-net-worth individuals
- Provides a curated selection of accountants recommended by high-net-worth individuals
- Offers transparent endorsements and reviews for each accountant
- Offers a personalized quiz to match users with accountants based on specific needs
- Some accountants have integrated calendars for easy appointment scheduling
- Operates without paid promotions, ensuring unbiased recommendations
- Free to use with no hidden fees for accessing accountant profiles
Cons of Sam's List
- Limited direct pricing information available on the platform
- Dependence on the performance and reliability of listed service providers
- Users may need to evaluate recommended providers to ensure the best fit
2. Geffen Mesher
Geffen Mesheris a well-established accounting firm that specializes in offering financial services tailored to the needs of high-net-worth individuals and privately-held businesses. With a strong reputation fordelivering expert guidance, the firm focuses on complex tax planning, estate and trust management, and family office services. Their client-centered approach combines personalized attention with deep industry expertise to help affluent individuals optimize their wealth strategies. In addition to personal financial services, Geffen Mesher providescomprehensive advisory and consulting solutions for businesses, helping them navigate everything from mergers and acquisitions to strategic growth. With a focus on bothlocal and international financial needs, the firm is equipped to handle cross-border tax issues, ensuring compliance and financial efficiency. For individuals and businesses seeking sophisticated financial solutions, Geffen Mesher is known for delivering customized, high-quality service.Key Features of Geffen Mesher
- High Net Worth Services: Geffen Mesher provides specialized accounting services tailored to the needs of high-net-worth individuals, focusing on complex tax planning, wealth management, and estate planning.
- Estate and Trust Planning: The firm helps you protect and transfer your wealth effectively, offering comprehensive estate and trust planning services that align with your long-term goals.
- Family Office Support: Geffen Mesher offers family office services to help manage the financial affairs of wealthy families, ensuring everything from asset management to tax compliance is handled with care.
- Business Advisory and Consulting: The firm provides strategic consulting services for business owners, helping them optimize operations, plan for growth, and navigate mergers and acquisitions.
- International Services: With a global perspective, Geffen Mesher assists clients who have international interests, ensuring compliance and efficiency in cross-border transactions and tax matters.
- Client-centric approach
- Provides a full suite of professional services, including accounting and assurance, business consulting, estate planning, financial and retirement planning, litigation support, international services, and taxation planning.
- Actively involved in community service, supporting over 80 charitable organizations.
- Being primarily based in the Pacific Northwest might limit its ability to provide on-the-ground support for HNWIs with significant interests in other regions.
- The comprehensive services offered by Geffen Mesher can be costly.
3. Chandler & Knowles CPAs
Chandler & Knowles CPAsis a full-service accounting firm known for its comprehensive approach to tax planning, financial consulting, and business advisory services. The firm provides tailored financial solutions to individuals and businesses, particularly high-net-worth clients who require sophisticated tax strategies and financial planning. Chandler & Knowles stands out for itsintegrated approach, combiningtax preparation, advanced tax planning, and risk assessmentto help clients maximize financial opportunities and minimize liabilities. One of the firm’s core principles is forward-thinking financial management. The firm helps clients reflect on past financial activities andstrategically plan for future growthand security. They use theLifetime Economic Acceleration Process (LEAP)and theDynamic Wealth Buildersystems to help clients better organize and control their financial world and ensure that all aspects of their finances work harmoniously.Key Features of Chandler & Knowles CPAs
- Advanced Tax Planning: Chandler & Knowles specializes in advanced tax strategies to minimize liabilities and protect assets. This includes tax-free retirement planning, irrevocable trusts, and complex estate planning solutions.
- Financial and Risk Planning: The firm helps clients identify growth opportunities while assessing financial risks, ensuring long-term wealth management that is aligned with their personal or business goals.
- Comprehensive Business Services: For business owners, the firm offers full accounting and consulting services, including bookkeeping, payroll administration, entity selection, and accounting system implementation to streamline operations and improve financial decision-making.
- Personalized Financial Strategies: Chandler & Knowles focuses on creating customized financial plans. They help clients with everything from day-to-day tax preparation to long-term financial forecasting, ensuring every client has a clear path toward their financial goals.
- Provides comprehensive tax planning and business accounting services
- Specializes in advanced tax strategies for high-net-worth individuals, including LLC formation and retirement planning
- Offers a subscription billing model that provides transparent pricing and ongoing reviews
- Personalized service with strong attention to detail tailored to each client’s financial situation
- Cross-over knowledge between business and personal financial planning for clients who own businesses
- Higher costs for specialized services and advanced tax planning strategies
- Limited physical presence outside Texas may hinder face-to-face support for clients in other regions.
- Some clients may find the firm’s advanced financial tools and models complex without thorough explanations.
4. 1-800Accountant
1-800Accountantis an online accounting firm that provides a wide range of financial services tailored primarily for small businesses. Still, its offerings can be valuable for high-net-worth individuals seeking tax, payroll, and bookkeeping support. The firm emphasizes simplicity and accessibility by matching clients with dedicated CPAs specializing in industry and state-specific regulations. Under a flat-rate pricing model, they help customers with business formation, personal or business tax preparation, or ongoing bookkeeping. Their approach is designed for flexibility and efficiency. They allow clients to manage their accounting needs through asecure online portalandmobile app. These tools let youupload important documents, track mileage, generate reports, and communicate with your assigned accountant. You also benefit from year-round support, ensuring you’re not scrambling during tax season or missing out on potential savings. The cheapest plan starts at $179 per month billed annually.Key Features of 1-800Accountant
- Personalized CPA Support: Each client is paired with a dedicated accountant knowledgeable in their specific industry and location. This personalized service ensures that you receive expert advice tailored to your financial needs.
- Tax Preparation & Planning: 1-800Accountant handles both business and personal tax filings, provides audit defense services, and offers ongoing tax planning to help you minimize liabilities throughout the year.
- Bookkeeping Services: For those needing help with bookkeeping, the service includes categorizing transactions, reconciling accounts, and preparing financial statements. They even offer catch-up services if you're behind on your books.
- Business Formation Services: The firm assists with LLC formation and EIN applications and acts as your registered agent, making starting and managing your business easier from a compliance perspective.
- Flat-Rate Pricing: With a clear, flat-rate pricing structure, 1-800Accountant ensures no surprises. For basic business services, plans start from $179 per month and go up to $399 per month for more comprehensive support, including priority access and detailed financial reporting.
- Year-round access to a dedicated accountant
- Transparent, flat-rate pricing without hourly charges
- Secure online portal and mobile app for easy document management
- Comprehensive services from business formation to audit defense
- Annual subscriptions are required for most plans
- Bookkeeping is only included in higher-priced packages
- It can be expensive for freelancers or very small businesses
5. INSIDE Public Accounting
INSIDE Public Accounting (IPA)is a leading resource in the public accounting industry. It offers critical insights and practice management resources to help accounting firms thrive. For over 35 years, IPA has been a trusted source for benchmarking data and trends, making it a go-to platform for firm leaders who want to improve financial performance, operational efficiency, and strategic growth. IPA is most well-known for its annual rankings of theTop 500 Accounting Firmsin North America, including the prestigiousBest of the Bestlist, which evaluates firms on more than 50 financial and operational metrics. These rankings provide insights into the industry's top-performing firms, highlighting excellence in areas such as profitability, growth, and client satisfaction. By offering data-driven reports, IPA helps firms identify areas for improvement and set benchmarks against their peers.Why It Matters: For high-net-worth individuals or businesses looking to partner with a top accounting firm, IPA’s rankings provide a valuable resource for finding firms that demonstrate exceptional performance, growth, and client focus.Key Features of INSIDE Public Accounting
- Annual Rankings and Surveys: IPA produces highly respected annual rankings of accounting firms, including theIPA Top 500andBest of the Bestlists, which showcase firms that excel in financial and operational performance.
- Practice Management Reports: IPA provides specialized reports that analyze key metrics across areas like firm administration, human resources, and IT. These reports help firms track their performance and identify opportunities for growth and improvement.
- Thought Leadership: IPA offers a monthly publication and bi-weekly newsletters that feature insights from top-performing firms, industry trends, and advice from leading consultants. This content is designed to inspire accounting firms to optimize their practices and stay ahead of the competition.
- Firm Benchmarking: The platform allows firms to compare their performance against industry standards through IPA’s comprehensive benchmarking data, helping them refine their strategies for long-term success.
- Provides annual rankings and comprehensive benchmarking reports for accounting firms
- Trusted resource for over 35 years in the public accounting industry
- Offers specialized reports on firm administration, human resources, and technology
- Monthly publication and bi-weekly newsletter with insights from top-performing firms and industry leaders
- Helps firms track performance metrics and compare themselves against peers
- Primarily focused on accounting firms rather than individual client services.
- Reports and rankings are subscription-based, requiring paid access for detailed insights.
- It primarily serves firms, so it’s not directly beneficial for individual accountants or small businesses seeking accounting services.
6. PwC
PwC(PricewaterhouseCoopers) is one of the world's largest and most prestigious professional services networks, serving clients across 152 countries. For high-net-worth individuals, PwC offers specialized services intax planning,wealth management, andcompliance, focusing oninternational tax services,family office management, andESG (Environmental, Social, and Governance) reporting. PwC’s holistic approach integrates human expertise with advanced technology solutions, such asAI-driven financial tools, to help you optimize and protect your wealth. Additionally, PwC's commitment to sustainability andNet Zero initiativesmeans that you can also incorporate ethical investing and environmental considerations into your financial strategy.Key Features of PwC
- Wealth and Tax Planning: PwC provides specialized tax and wealth management strategies for high-net-worth individuals, ensuring tax efficiency and long-term wealth preservation.
- Estate Planning and Compliance: They offer estate planning services, helping you structure your assets for smooth wealth transfer across generations while maintaining compliance with tax laws.
- Global Reach and Expertise: With a presence in over 150 countries, PwC is uniquely positioned to assist clients with international wealth management, tax issues, and legal matters.
- Innovative Technology: PwC leverages AI, cloud technology, and digital solutions to help HNWIs modernize their wealth management strategies and enhance decision-making.
- Global reachwith deep local expertise, perfect for handling international tax and wealth management.
- Comprehensive service offering: from tax planning to estate and digital transformation, covering all facets of wealth management.
- Cutting-edge technology: heavy investment in AI and digital solutions that enhance financial and tax planning.
- Strong sustainability focus, including ESG and climate-related investment advisory services, aligning wealth with long-term goals.
- Premium pricing, making it potentially cost-prohibitive for smaller clients.
- Large firm structuresmay feel impersonal to clients seeking more individualized attention.
- Complex service offerings, which can be overwhelming without proper guidance to find tailored solutions
7. Deloitte
Deloitteis one of the largest and most prominent professional services firms globally, making it a top choice for high-net-worth individuals (HNWIs) looking for comprehensive financial services. Deloitte offerswealth management,tax planning,family officeservices,anddigital transformation solutions, helping clients manage and grow their assets. You’ll get estate, gift, inheritance, and trust planning solutions. This includes evaluating and resolving complex tax consequences related to these areas and ensuring that your wealth is preserved and transferred efficiently. Deloitte also supports establishing and operating family offices, providing services from formation to ongoing management. This includes tax compliance, advisory services, and next-generation family governance to sustain the family legacy.Deloitte Private, the brand under which Deloitte serves HNWIs and family enterprises, takes a holistic approach. This involvescombining local knowledge with an international networkto address the interrelationships between privately held businesses, their owners, family offices, and employees.Key Features of Deloitte
- Family Governance Structures:Deloitte supports establishing family governance structures, including family councils, succession education, and conflict resolution.
- Risk Management:Deloitte provides risk and resilience services to protect the wealth and reputation of HNWIs, helping them identify and manage risks.
- Estate, Gift, Inheritance, and Trust Planning:Deloitte evaluates and resolves complex tax consequences related to estate, gift, inheritance, and trust planning, as well as charitable activities.
- Design and Set-Up:Deloitte professionals assist with the design and set-up of family offices, including tax and governance considerations, to manage investments, reporting, philanthropic activities, and financial responsibilities.
- Extensive global expertise, perfect for HNWIs with international assets or business interests.
- Comprehensive services cover wealth planning, tax advisory, and family office management.
- Access to advanced technology and data-driven solutions to optimize financial strategies.
- Strong reputation and discretion, offering deep experience in handling complex financial structures.
- Family governance and succession planning.
- Premium pricing, potentially higher compared to smaller, boutique firms.
- Large firm structures may feel impersonal for clients seeking more hands-on, personalized service.
- The complexity of service offerings can be overwhelming without a dedicated advisor to guide you through options.
- Potential for over-reliance on technology.
8. EY
EY (Ernst & Young)is a leading professional services firm that offers specialized financial and tax services tailored to high-net-worth individuals (HNWIs). It provides comprehensive tax services, including income tax compliance, advisory services, and wealth planning. EY’s global presence and extensive experience make it particularly adept at handling the complexities of wealth management, succession planning, and cross-border tax issues. For HNWIs, EY focuses on helping clientspreserve wealth, manage multi-jurisdictional tax obligations, and navigate complexregulatory environments. Throughfamily office services, EY assists in creating formal governance structures, enabling families to handle succession planning, investment strategies, and philanthropy. The firm also advises onmulti-jurisdictional residency and mobility, ensuring clients know the tax and legal implications of relocating or owning assets across borders. Additionally, EY helps clients stay compliant with evolving tax transparency obligations, such as FATCA and CRS, while identifying opportunities for tax optimization.Key Features of EY for HNWIs
- Cross-Border Tax Planning: EY offers expert guidance on managing international tax obligations, helping HNWIs navigate the challenges of global taxation, residency, and compliance.
- Family Office Advisory: EY assists in setting up and managing family offices, providing governance structures, investment advice, and wealth transfer planning for multi-generational wealth.
- Succession and Wealth Planning: EY helps with estate and succession planning, ensuring smooth wealth transfer while minimizing tax liabilities.
- Philanthropy and Legacy Building: The firm guides families on philanthropic strategies, helping them establish foundations or formalize charitable giving to align with their values.
- Global expertise with a strong focus on cross-border tax compliance and wealth planning.
- Comprehensive family office advisory services that cover governance, investment, and succession planning.
- Ability to provide multi-jurisdictional tax, residency, and compliance advice, ideal for HNWIs with international assets.
- Focus on aligning wealth management with clients’ values, including philanthropy and legacy-building.
- Changes in regulatory requirements can sometimes create challenges for the firm and its clients.
- The breadth and depth of EY's services can be overwhelming for some clients.
- The comprehensive services offered by EY can be expensive.
9. Grant Thornton
Grant Thorntonoffers specialized services for high-net-worth individuals (HNWIs) through itsPrivate Wealth Servicesdivision. The firm focuses onwealth preservation, tax advisory, estate planning, andbusiness succession planning. Its advisory services include corporate finance, strategic advice, management assessment, operations and post-deal services, risk management, recovery, and reorganization. Their private wealth experts collaborate with attorneys, trustees, and investment advisors to ensure a holistic approach to wealth management. Grant Thornton is particularly known for its ability to help clients withmulti-jurisdictional tax planningandcompliance, making it ideal for individuals with international assets or businesses. They also offerfamily office services, ensuring your family's financial structure is well-governed and prepared for long-term wealth transfer. Their experts are committed to addressing all aspects of wealth management, fromestate planningtophilanthropy, allowing you to focus on your financial legacy.Key Features of Grant Thornton for HNWIs
- Wealth Preservation and Estate Planning: Grant Thornton helps you protect and transfer wealth across generations through strategies like trusts, estate planning, and succession planning.
- Tax Planning and Compliance: The firm specializes in minimizing tax liabilities while ensuring compliance with evolving global tax laws, especially for clients with complex international portfolios.
- Business Succession Planning: Grant Thornton assists in developing strategies for the seamless transfer of business ownership, helping secure the future of your enterprise.
- Family Office Services: The firm provides governance, investment advisory, and financial management services tailored to multi-generational wealth.
- Expertise in multi-jurisdictional tax planning and wealth management.
- Comprehensive family office and estate planning services for HNWIs.
- Strong focus on business succession and asset protection strategies.
- Personalized services are designed to preserve and grow family wealth across generations.
- Premium services may come at a higher cost compared to smaller firms.
- As a large global firm, some clients may experience less personalized attention than boutique firms.
- Navigating complex service offerings may require a dedicated advisor.
10. Crowe
Croweis a global network of independent accounting and consulting firms that provides clients with services across various industries through its Private Wealth division. Crowe delivers comprehensive financial planning, tax advisory, and estate planning services to help affluent individuals and families manage, preserve, and grow their wealth. Leading industry guides, such as theChambers High Net Worth Guide, have recognized their Private Clients team for their exceptional work in supporting HNWIs and their unique financial needs. Crowe’sholistic approachensures that clients receive personalized advice on tax compliance, cross-border tax planning, and succession planning, making it an ideal partner for those with international assets or complex financial portfolios. The firm also specializes infamily business advisory, helping clients navigate the intricacies of family governance, wealth transfer, and business continuity planning.Key Features of Crowe for HNWIs
- Tax and Wealth Planning: Crowe helps high-net-worth individuals optimize their tax strategies while ensuring full compliance with evolving tax laws, domestically and internationally.
- Estate and Succession Planning: The firm provides expert advice on estate planning and succession, ensuring a smooth transfer of wealth across generations while minimizing tax liabilities.
- Family Business Services: Crowe works with family-run businesses, offering governance solutions and strategies to ensure family enterprises' long-term sustainability and growth.
- Private Wealth Management: Crowe assists in crafting comprehensive financial plans that encompass retirement planning, investment strategies, and philanthropic endeavors.
- Expertise in cross-border tax and wealth management, ideal for internationally mobile clients.
- Personalized services focused on family governance, wealth transfer, and business continuity.
- Recognition in prestigious industry rankings for private wealth services, ensuring high-quality and trusted advice.
- With the rise of the "Re-wired Investor," HNWIs may have high expectations for personalized and accessible advice.
- Integrating Crowe's services might require significant adjustments for HNWIs with existing accounting systems or family office structures.
- As with any large firm, the quality of service provided by different teams or individuals can vary.
What Services Do High Net Worth Accounting Firms Provide?
High-net-worth accounting firms provide various specialized services tailored to the unique financial needs of individuals with substantial assets. Some of the key services include:
- Tax Planning and Compliance: These firms offer advanced tax strategies to minimize liabilities, including international tax planning, trust structuring, and charitable giving. They also ensure compliance with local and international tax regulations.
- Wealth Management and Preservation: High-net-worth accounting firms provide personalized advice on growing, managing, and protecting wealth. This can include investment strategies, risk management, and portfolio optimization.
- Estate and Succession Planning: These firms help clients create strategies for transferring wealth across generations in a tax-efficient manner. They advise on wills, trusts, and other structures to ensure smooth succession and minimize estate taxes.
- Family Office Services: Many high-net-worth accounting firms offer comprehensive family office services, managing all aspects of a family’s financial affairs, including investments, tax planning, and governance structures.
- Business Advisory: For clients who own businesses, these firms provide advice on business structuring, mergers and acquisitions, and succession planning to ensure the long-term viability of family businesses.
- Philanthropy Planning: High-net-worth accounting firms also help clients structure philanthropic endeavors, such as setting up charitable foundations or trusts, to maximize the impact of their giving while benefiting from tax advantages.
- International Services: These firms handle cross-border tax planning, residency issues, and global compliance for clients with assets or businesses in multiple countries
How Much Do High Net Worth Accounting Firms Charge?
The fees charged by high-net-worth (HNW) accounting firms vary significantly based on the complexity of services required, the geographic location of the client, and the firm's reputation. For tax preparation, individual services for HNWIs typically range from$500 to $1,500 or moredepending on the complexity, especially if they own multiple properties, have international interests, or require advanced tax planning. Business tax filings, particularly for larger or more complex businesses, can easily exceed$2,000annually. For comprehensive wealth management services, including estate planning, succession planning, and family office advisory,fees are often structured as a percentage of assets under management (AUM). This could be around1% to 2% of AUMannually. For ultra-high-net-worth individuals, firms may charge between$50,000 to $100,000 or more per year, depending on the scope of services such as cross-border tax planning, risk management, and investment strategy. Hourly rates for advisory services at top-tier firms like PwC, Deloitte, and EY can range between$300 to $1,000 per hour, especially when working with senior partners or specialists in niche areas like international tax or corporate structuring.
How to Choose the Best Accounting Firm for High Net Worth in 2024?
Choosing the best accounting firm for high-net-worth individuals (HNWIs) in 2024 requires a strategic approach to ensure the firm aligns with your unique financial goals and needs. Here are the key factors to consider:
- Expertise in High-Net-Worth Services: Look for firms that specialize in services tailored to HNWIs, including tax planning, estate planning, and wealth management. Ensure they have experience handling complex financial portfolios, cross-border issues, and business succession planning.
- Global Reach and Local Knowledge: For HNWIs with international assets, choosing a firm with a global presence is essential. Firms like PwC, Deloitte, and EY have extensive networks and can handle tax and regulatory issues across multiple jurisdictions. Smaller boutique firms may be more personalized but could lack this level of global expertise.
- Range of Services: Ensure the firm offers a comprehensive suite of services, includingfamily office support, risk management, philanthropic planning, and business advisory. This will provide holistic financial management, allowing you to effectively manage both personal and business interests.
- Reputation and Client Base: Research the firm’s reputation in the market and its clients. Look for firms known for working with high-net-worth clients or who have experience with similar financial portfolios. Firms ranked byINSIDE Public Accountingor featured inChambers High Net Worth Guideare good indicators of top-tier services.
- Technology Integration: Consider firms that offer advanced technology solutions, likeAI-driven financial analysisand real-time reporting. These tools can enhance your ability to make data-driven decisions and optimize wealth management strategies.
- Fee Structure: High-net-worth accounting firms charge premium fees, often based on assets under management (AUM) or hourly rates. To avoid unexpected costs, clarify whether the firm offers transparent pricing or a subscription model.
- Personalized Attention: Large firms may provide global expertise but sometimes feel impersonal. If you prefer a more hands-on approach, consider whether a boutique firm would provide more direct access to senior advisors.
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Best Accounting Firms for High Net Worth: Frequently Asked Questions
What is the difference between a high-net-worth accountant and a regular accountant?
A high-net-worth accountant specializes in managing the complex financial needs of individuals with significant assets. They provide advanced tax planning, estate management, and wealth preservation strategies tailored to high-net-worth individuals, whereas a regular accountant focuses more on basic tax preparation, bookkeeping, and general financial services for individuals or small businesses with simpler needs.How can a high-net-worth accounting firm help me minimize taxes?
A high-net-worth accounting firm can help minimize taxes through advanced strategies like trust and estate planning, charitable giving, and optimizing investment structures. They focus on reducing tax liabilities by navigating complex tax regulations, including cross-border tax rules for those with international assets, ensuring you take advantage of every possible tax-saving opportunity.What role does an accounting firm play in estate planning for high-net-worth individuals?
In estate planning, a high-net-worth accounting firm ensures that your assets are transferred efficiently to the next generation while minimizing estate taxes. They help structure trusts, wills, and other legal instruments to protect wealth and reduce tax burdens, ensuring your estate plan aligns with your financial goals and legal obligations.Looking for Best Accounting Firms for High Net Worth?
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