BENDER LANE ADVISORY, LLC

Frequently Asked Questions

What is a multifamily office?

A family office is a group of people and systems designed to manage the financial affairs of a family. A multifamily office supports several families and thus is more cost-effective. Additionally, a multifamily office reduces the vulnerability to the loss of key personnel.

Will it affect me that you are located in Albany, New York?

We find that our location is a positive and not a negative. Costs are lower in upstate New York than in most major metropolitan areas. We typically meet with you at your choice of location, so our travel to and from these meetings will be invisible to you.

Are you a replacement for my attorney or accountant?

We work with your attorneys on estate planning and other legal matters. We are a source of quality information to them. To you, we are a translator to help you better understand your options.

We often prepare tax returns for our clients. However, we appreciate existing relationships. You can continue working with your accountants. We support them and provide them with information.

How do you pay my bills?

Ideally, we substitute our address for yours with all your vendors. Bills are sent directly to us. We promptly process payments from accounts to which you have granted us authority. We then report all transactions to you and reconcile your bank accounts.

Will you help me with my foreign reporting requirements? Reportable transactions?

Tax returns have become more than schedules of income and deductions. They now document transactions of interest to the government. We prepare all necessary domestic filings as required of a US citizen.

Do you sell any insurance products?

No. We only sell our time and talent. You may need insurance, and if you do, we will help you find a solution on a best practices basis. We do not receive payments from anyone other than our clients.

How do you get paid?

We charge a fee for our services. Fees are either a fixed annual amount negotiated in advance or a percentage fee that varies with asset value.

How will my family benefit from this relationship?

While you are alive, we educate your family on methods of wise wealth stewardship, organize family meetings, and coordinate family philanthropic efforts. After your death, we work with your family to ensure a smooth financial transition and substitution of their leadership for yours based on your directions.

Can you manage my assets?

Yes. We can act as either an investment consultant to your current portfolio advisor or manage your assets with our partner custodians. We do not create products nor do we receive commissions.Bender Lane Advisory Logo

Description Of Our Services

Comprehensive Reporting:

  • Preparing a comparative personal net worth statement on an agreed upon schedule
  • Preparing a detailed cash flow summary
  • Preparing an estate distribution flowchart
  • Preparing annual budgets

Investment Allocation, Selection and Monitoring:

  • Managing your portfolio on a discretionary basis or as an investment consultant
  • Developing strategic and tactical recommendations regarding the construction of your portfolio
  • Selecting appropriate investment strategies and managers from an open architecture platform
  • Monitoring and reporting on investment performance and asset allocation
  • Maintaining account data and supervising transaction activity

Income Tax Planning and Compliance:

  • Preparing tax returns, or working with your accountants to have them prepared, for you and your entities
  • Preparing periodic income tax projections, offering tax planning advice and preparing estimated tax vouchers
  • Accounting for your reportable transactions and helping you meet your US reporting requirements for foreign transactions

Estate Planning:

  • Reviewing your estate planning documents
  • Recommending improvements to your plan
  • Ensuring that essential tasks are completed
  • Implementing your estate plan
  • Monitoring and recommending changes in conjunction with your attorney as circumstances change

Family Financial Literacy Education and Coordination:

  • Working with your adult children to see that they are organized and utilizing appropriate techniques
  • Organizing family meetings to educate members of your family and to ensure collegiality and cooperation among the generations
  • Ensuring that all members of your family are acting in concert regarding their planning, within the bounds of confidentiality

Family Philanthropy:

  • Coordinating your charitable giving
  • Identifying tax efficient assets for charitable giving
  • Maintaining records of and tax returns for your private foundation

Cash Flow Planning and Bill Paying:

  • Developing a cash flow plan for individuals and entities
  • Coordinating all major cash transactions
  • Paying all bills and providing periodic activity reports and bank reconciliations for monitored accounts

Risk Management:

  • Reviewing property and casualty and life insurance coverage
  • Assessing the adequacy of liquidity to meet anticipated and potential cash obligations
  • Bender Lane Advisory LogoAssessing concentration and counterparty risks in your investment portfolio

Welcome

Bender Lane Advisory

Bender Lane Advisory, LLC ("BLA") is a multifamily office in the broadest sense of the term. We offer a diverse range of services that will help you and your family efficiently use your wealth and personal skills to meet your objectives now and into the future.

These Services Include:

  • Comprehensive maintenance and reporting of financial information
  • Investment allocation, selection and monitoring
  • Income tax planning and compliance
  • Estate planning advice and implementation assistance
  • Family financial literacy education and coordination
  • Management of family philanthropy
  • Cash flow planning and bill paying
  • Risk management

While the previous list describes our formal services, in practical terms, what we really offer is progress toward your goals, efficiency in your use of resources, and more of your own precious time to enjoy what matters most to you. We will help you ensure that a lifetime of hard work will not be squandered and your family will be protected far into the future.

We are an independent firm whose only product is service. We do not sell any investment, insurance or other financial services products. We are paid solely by our clients, our fees are completely transparent, and we do not accept compensation from any other source. Our interests and goals are fully aligned with yours.




We are experienced and skilled. Formed in 2002, our staff of eighteen professionals includes people with extensive expertise and experience in accounting, finance, investing, and estate and tax planning. Together, we have spent many years serving families such as yours and can apply this experience to address almost anything that may occur in your life.

We are an effective bridge between you and your other advisers. We translate often incomprehensible industry jargon into actionable thought. We receive and disseminate information and coordinate actions among the important people in your life. We do not upset quality relationships that you already have in place.

The best plans can be sidetracked without effective management and control. We provide education for your family to make sure there is a proper succession of control in place for your wealth, estate planning vehicles, and charitable entities when you are no longer able to provide this leadership for your family.

We believe our fee to be an investment that provides an excellent return each year. Efficiencies gained are often substantial. Our well-conceived, disciplined approach seeks to achieve superior after-tax returns. Peace of mind is priceless.

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