The Value of Administrative Services Offering for Family Offices

Apr 23, 2025 | Family Office, GTM Blog, Household Employer Policies

For family offices, maintaining seamless operations is paramount. You manage complex financial landscapes, intricate personal affairs, and a dedicated team of professionals. The organizational burden of onboarding staff, managing payroll, navigating human resources, and administering benefits can quickly become overwhelming, diverting valuable time and resources from your core objectives.

An Administrative Services Offering (ASO) solution serves the unique demands of family offices by integrating payroll, workforce management, human resources, and employee benefits to streamline your essential administrative functions, allowing you to focus on what truly matters: preserving wealth, managing legacies, and supporting your family’s needs.

Think of an ASO provider as your dedicated, expert administrative backbone, handling the intricacies with precision and discretion.

Here’s a closer look at how an ASO solution can simplify your world:

Effortless Onboarding: Setting the Stage for Success

Bringing new talent into your family office requires a thoughtful and efficient onboarding process. Through a human capital management platform (HCM), you can easily and confidently handle the often tedious tasks of welcoming new team members, ensuring a smooth and positive experience from day one.

Comprehensive Paperwork Management: Manage all necessary employment documentation, from offer letters and employment agreements to tax forms and confidentiality agreements, online and in a single, secure platform, ensuring compliance and accuracy.
Background Checks and Verification: Facilitate thorough background checks and credential verification, providing the confidence and security you need.
Benefits Enrollment Support: Streamline benefits management and enrollment with integrations between your payroll platform and insurance carriers and receive expert guidance for you and your employees through the complexities of benefits selection and enrollment, ensuring the efficient and accurate completion of the necessary forms.
System Integration: Seamlessly integrate new employee data into a single payroll and HR system, minimizing manual data entry, eliminating multiple sources of information, and ensuring data accuracy.

Seamless Payroll Administration

Payroll for family office staff can be complex, involving various compensation structures, tax implications, work locations, and reporting requirements. An ASO offers a dependable and compliant payroll solution customized to address these particular demands.

An HCM platform through an ASO simplifies all facets of the payroll process, from meticulously calculating wages and deductions to generating paychecks and efficiently handling direct deposits, while accommodating various pay frequencies and compensation structures.

Using an HCM platform ensures precise tax withholding and the prompt remittance of all federal, state, and local taxes, maintaining compliance with constantly changing regulations.

Through comprehensive reporting and analytics, you gain valuable insights into your payroll data, providing a clear understanding of your expenses.

Strategic Human Resources Support

Managing the human element within your family office demands a strategic and compliant approach. An ASO includes an experienced HR consultant who delivers comprehensive support to facilitate developing and maintaining a productive and engaged team. This includes crafting and implementing HR policies and procedures, aligning with industry best practices, organizational goals, and all pertinent legal requirements.

Your HR consultant can also provide employee relations support, guidance, and assistance in navigating sensitive situations with professionalism and care. They offer performance management tools and resources to help you implement effective processes that foster employee growth and development.

Finally, your HR consultant can assist in identifying and coordinating training and development opportunities tailored to the specific needs of your staff.

Comprehensive Insurance and Benefits Management

Offering competitive insurance and benefits packages is essential for attracting and retaining top talent, and an ASO simplifies the often-intricate landscape of employee benefits.

With an ASO, an employee benefits advisor helps you manage the enrollment process for various benefits, including health insurance, retirement plans, and other voluntary options.

Your employee benefits advisor can also assist you in sourcing and managing an array of insurance policies, from top carriers, encompassing health, dental, vision, life, and disability coverage. It also ensures that your benefit plans adhere to all regulations.

Partner with GTM: Simplify Your Administration, Empower Your Focus

With GTM’s ASO solution, you gain a dedicated team of payroll, human resources, insurance, and employee benefits experts committed to efficiency, accuracy, and discretion.

We become an extension of your family office, allowing you to reclaim valuable time and energy to focus on your core responsibilities.

Ready to streamline your world and experience the peace of mind that comes with expert administrative support? Contact GTM today for a confidential consultation and discover how our Administrative Services Offering can benefit your family office. Give us a call at (800) 929-9213 or schedule time with us at your convenience.