PKF O’Connor Davies Family Office Expands Offering with Launch of Advisory Services Group

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Industry Leader Steve Prostano to Head Enhanced Offering Focused on Evolving Needs of Ultra-High-Net-Worth Families and Private Business Owners.

“Families of significant wealth have complex lives and face unique challenges, and we’re seeing those challenges becoming more complicated and nuanced every day,” said Gemma Leddy, Partner-in-Charge of PKF O’Connor Davies Family Office.

PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax and advisory firms, announced today that it expanded its family office offering with the launch of Family Advisory Services (FAS). FAS is a new offering focused on delivering strategic, objective and conflict-free advisory solutions to satisfy the unique needs of private business owners, ultra-high-net-worth families, their family offices and the advisors that serve them. FAS will be led by Steve Prostano, a recognized thought leader and industry veteran.

“Families of significant wealth have complex lives and face unique challenges, and we’re seeing those challenges becoming more complicated and nuanced every day. Those that have been the most successful at sustaining their wealth over multiple generations take an enterprise or business-minded approach. The Family Advisory Services offering reflects this dynamic,” said Gemma Leddy, Partner-in-Charge of PKF O’Connor Davies Family Office. “We are delighted to have Steve join us in our commitment to provide integrated and innovative solutions to meet the ongoing demands of our clients.”

In a career spanning over three decades, Steve Prostano has distinguished himself as an innovator and a recognized leader in the wealth management, multi-family office and global financial services industries. He has designed, built and managed leading global and national multi-family offices and asset management firms. Additionally, he has consulted with numerous industry leaders and ultra-high-net-worth families and family offices throughout his career. Steve, a certified public accountant and attorney with an LLM in Taxation, is a frequent speaker on industry trends and developments and has won numerous industry awards.

“The new Family Advisory Services offering is a step ahead of others in the accounting, professional and financial services industries today,” Prostano said. “It allows private business owners, UHNW families and their advisors to integrate the independent, conflict-free, strategic advice they receive from FAS with one of the most comprehensive Family Office offerings available in the market. It’s all backed by the deep resources, talent and broader set of services of PKFOD. I’m very pleased to be joining this dynamic team and lead this new offering.”

The new FAS Group will provide a unique, comprehensive advisory offering and proprietary strategic planning and implementation process that allows families to address all of their personal, business and financial needs. The process delivers objective and holistic multi-disciplinary advice that fully integrates:

  • Wealth Planning and Structuring
  • Family Dynamics and Governance Consulting
  • Family Education
  • Private Business Owner Advisory Services
  • Strategic Philanthropy and Purpose Investment Counseling
  • Family Office Consulting

The FAS strategic advisory solutions, coupled with their high-touch service, offer a truly meaningful complement to PKF O’Connor Davies Family Office’s suite of services.

FAS will also offer advisors and financial service firms serving UHNW families and family offices a comprehensive set of tools, including both strategic consulting and outsourced solutions. These services will address specific challenges faced by these firms, which are often seen as barriers to entry and success.

PKFOD has a long history of serving UHNW families, private business owners, family offices and the financial service firms that serve them, and they have built leading, award-winning practices in the Family Office and Financial Services space.

About PKF O’Connor Davies Family Office (PKFOD FO)

PKFOD FO is the award-winning Family Office division of PKF O’Connor Davies, LLP offering financial, tax, accounting, planning, investment, transaction, philanthropic and business acumen along with direct, alternative and sustainable investments, family office, Wall Street insights, and entrepreneurial business experience and leading technology.

The PKFOD FO team includes family office, tax and financial services professionals with access to expertise from over 800 firm-wide professionals, an expanded international platform in London and Europe and resources in 400 locations throughout the world. With unparalleled experience, specialized expertise, dedicated resources, and enterprise-level accountability, we deliver the solutions that meet a full complement of planning, reporting, financial and lifestyle issues.

About PKF O’Connor Davies, LLP

PKF O’Connor Davies, LLP is a full service certified public accounting and advisory firm with a long history of serving clients both domestically and internationally. With roots tracing to 1891, 11 offices in New York, New Jersey, Connecticut, Maryland and Rhode Island and more than 800 professionals led by over 100 partners, the Firm provides a complete range of accounting, auditing, tax and management advisory services.

PKF O’Connor Davies is a top-ranked firm according to Accounting Today’s 2019 “Top 100 Firms” list and the Firm is also recognized as a “Leader in Audit and Accounting,” a “Pacesetter in Growth” and one of the “Top Firms in the Mid-Atlantic.” In 2019, PKF O'Connor Davies was named one of Vault's Accounting 50, a ranking of the 50 best accounting employers to work for in North America and ranked among the top 50 most prestigious accounting firms in America in a complementary Vault survey. The Firm is the 12th largest accounting firm in the New York Metropolitan area, according to Crain’s New York Business, and the 10th top accounting firm in New Jersey according to NJBiz’s 2018 rankings.

PKF O’Connor Davies is enrolled in the AICPA Peer Review Program and has central memberships in the Private Companies Practice Section (PCPS), the Employee Benefit Plan Audit Quality Center (EBPAQC), Government Audit Quality Center (GAQC) and Public Company Accounting Oversight Board (PCAOB).

By consistently delivering proactive, thorough and efficient service, PKF O'Connor Davies has built long-lasting, valuable relationships with its clients. Partners are closely involved in the day-to-day management of engagements, ensuring a high degree of client service and cost effectiveness. The Firm’s seasoned professional staff members employ a team approach to all engagements to provide clients with the utmost quality and timely services aimed at helping them succeed. Continuity of staffing and attention to detail in all client engagements make the Firm stand out among its competitors.

PKF O’Connor Davies is the lead North American representative of the international association of PKF member firms. PKF International is a network of legally independent member firms providing accounting, tax, and business advisory services in over 400 locations in 150 countries around the world. With its tradition, experience and focus on the future, PKF O’Connor Davies is ready to help clients meet today’s ever-changing economic conditions and manage the growing complexities of the regulatory environment. For more information, visit http://www.PKFOD.com.

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