What services does Conner & Associates provide and specialize in?
We are a niche firm that provides income tax preparation and planning for high net worth clients and their extended families. These services typically entail individual income tax returns, fiduciary income tax returns for inter-vivos and testamentary trusts, private family foundations, family partnerships, estate tax matters (including gift tax preparation and planning), and small family business tax returns.
How do you charge for your services?
Typically we prepare an engagement letter for our clients outlining the type of services we will provide which includes a fee quote based upon the budgeted number of hours we believe it will take to complete the engagement. We then bill separately for any out of scope work that is provided outside the parameters of the engagement letter.
As a company that specializes in high net worth individuals, how much wealth do I need to work with you? Do you have a minimum threshold?>/b>
We do not have a firm minimum net worth threshold, however, we do prefer to engage clients who will need our services throughout the year not just during the usual tax busy season. The majority of our clients have a net worth over five million dollars, but that is not a requirement to work with our firm.
How will you work with my other financial advisors?
We not only work directly with our client financial advisors (by exchanging information and tax planning matters), but we also work extensively with our clients’ legal advisors for their estate tax matters. This entails both pre and post-mortem tax planning matters.
I have a complex portfolio that includes many non-traditional assets, how experienced are you in these matters?
We have extensive experience in non-traditional asset investments. These investments may include, in part, investments in partnerships such as hedge funds, publicly traded partnerships, and trade or business partnership investments (including those with basis and at-risk limitations). We have numerous clients that have trade/business partnership investments requiring multiple state tax return preparation and planning matters. Our firm is also extensively involved in the tax planning phase and tax preparation of Grantor Retained Annuity Trusts (GRAT), Charitable Remainder Annuity Trust (CRAT), Charitable Remainder Unitrusts (CRUT), and Irrevocable Life Insurance Trusts (ILIT).