EisnerAmper LLP Annual Private Wealth & Family Office Summit Enhancing Family Office Operations and Efficiencies: Outsourcing and Additional Opportunities November 9, 2010

2 Enhancing Family Office Operations and Efficiencies - Review The Office Needs to be Tailored to Family Needs –Operations Strategy Should be Clear and Measurable –All Operations Need to Possess Efficiencies and Adequate Controls –Reporting and Transparency Purpose of a Review of Family Office Operations –Review of overall operations, procedures, and management –Recommendations to enhance operations and management –Additional circumstances that could initiate a review »What are the Desired Outcomes of a Review ? »The Review Must be Objective

3 Enhancing Family Office Operations and Efficiencies – Outsourcing Model Uncertainty Regarding Office Management by Family Long-term Legacy Employees Nearing Retirement Cost Reductions and Enhanced Efficiencies Desired Enhanced Operational Controls Desired Additional or More Comprehensive Resources Desired Enhanced Reporting Capabilities and Transparency

4 Enhancing Family Office Operations and Efficiencies Case Study 1 – N Family –Multi Generations Served by the Office –Long Legacy of Operation –Accounting, Financial Reporting, Treasury Functions, Charity –Why the Operations Review Was Requested –Discovery: What Was Learned –Outcomes: What Was Done Based on Observations/Recommendations »Outsourced Accounting and Bill Paying Functions

5 Enhancing Family Office Operations and Efficiencies Case Study 2 – C Family –Multi Generations Served by the Office –Internal Accounting, Treasury Functions –Why the Operations Review Was Requested –Discovery: What Was Learned –Outcomes: What Was Done Based on Observations/Recommendations »Design Transition Plan to Adopt Partial Outsourcing Model