So… what exactly is a personal CFO?

What began as a simple bookkeeping service for Smolin’s wealthiest clients evolved into Premier Lifestyle Services, developed specifically with the needs of our high-net-worth clients in the front of our minds. We understand that you lead a busy life without nearly enough time in the day, which is where we come in.

With Premier Lifestyle Services, you have access to a full suite of services. As your accountant, we have your financial best interests in mind. It only makes sense for the day-to-day management and allocation to be handled by someone with an already strong understanding of your monetary assets.

Accounting & Bookkeeping

Detailed and clear financial reporting can help you access capital, meet regulations and make good business decisions. We aggregate your financial information and then prepare the financial reports. We then consult with you on how that information affects financial decisions.

Many individuals try to handle bookkeeping on their own, but soon find that it’s best left to experts. One simple bookkeeping mistake can have a ripple effect of negative consequences. Revenue can end up in the wrong category, which can then throw off the accuracy of all related financial reports. We have bookkeeping systems in place to maintain clients’ books and records. We proof everything for errors and our bookkeeping team inputs data flawlessly the first time. We also utilize the latest in bookkeeping technology, which allows us to complete jobs efficiently.

Concierge Services

Paying bills may be difficult to stay on top of when you have so much going on, and you may have numerous bills going out every day. Missing one of those bills could impact your credit or your relationship with a company. Paying bills may also consume your time that could be better spent in other places. Our concierge service department takes this burden off your plate by paying bills on your behalf. We can also consult with you on cash flow and set up a schedule for bill payment that helps to avoid cash flow crunches. Our team members are available to you on a 24/7 basis, 365 days a year.

Household Payroll Management & Bill Pay

Household employees include housekeepers, cooks, nannies, valets and others who do work in and around your home. Individuals who are contractors and provide services to more than one individual under their own business license are typically viewed as independent contractors and household employees.

In order to meet federal, state and local requirements, individuals are required to withhold and pay taxes, including social security, Medicare and unemployment taxes. Ever-changing tax laws can dramatically affect the amount of withhold that is required and what payments you are required to make as an employer.

Our team can manage payroll for your household employees including tracking, reporting and payment of all required taxes. Professional management of household payroll ensures that you are meeting all federal and local requirements and avoid costly penalties and fees.

Additionally, payroll management allows you to focus on other, more important issues with the comfort in knowing that your home’s obligations are being taken care of.

Cash Flow Analysis & Management

Cash Flow Management seeks to manage your personal liquid assets as they would be in a business setting. Let’s face it: you have too much on your plate to handle this effectively. Rather than seeing cash as simply a way to pay for things, Cash Flow Management looks at money management strategically in order to meet both short term and long term financial goals. This management view allows you to see how payments now can affect your liquid assets in the future. This management style is more than just a budget, which typically outlines income and expenses without creation of a system to facilitate savings and growth.

Many people forgo this step, believing that a simple budget is sufficient to meet their cash flow needs. However, a managed cash flow system, when used correctly and on a consistent basis, can strengthen your financial position. Cash management can put you in a position where large bills and savings goals, both short term and long term, are addressed in an effective way.


Budgeting is an important task for every individual. Not only does budgeting take into account your income and expenses, budgeting can also help to plan for large expenditures and set savings goals. Our team of experts can work with you to provide a budgeting solution that fits your unique needs. This includes first determining your goals and priorities. Once established, our accounting team can prepare monthly reports to review income and expenses and compare actual figures against budgeted numbers. This reporting can give you the tools you need to make tactical decisions.

Charitable Foundations
& Fundraising

Giving back to causes that are important to you and your family is personally rewarding. In order to maximize tax savings and adhere to government regulations, our team can help establish an individualized solution for charitable efforts that suit you.

Depending on the needs of your family and your charitable goals, a private foundation, charitable trust or charitable endowment may work best for you. Our team can be instrumental in establishing your charitable donation and ensuring that it is kept in compliance with local laws, state laws and IRS regulations. Our team handles all details so that you may focus on the charitable work that is important to you.

Monthly Reporting

Open communication is at the crux of wealth management. To that end, reporting on your portfolio and keeping an open discussion about your financial position is extremely important. Regular monthly reporting allows you to see all activity, transactions and performance over that time period. Account summaries include:

  • Beginning and ending balances.
  • Consolidation statements for all managed accounts.
  • Profit and loss statements.
  • Investment performance. (If utilizing SWA)

Monthly reporting is automatic and can be assessed in a manner that is most convenient for you, be it by the internet, email, post or fax. Further reporting is provided quarterly and annually to provide an accurate overview of your entire portfolio.

Asset Protection Planning

Asset protection is a strategic way of evaluating and protecting your assets. Individuals with wealth are at constant risk financially. Lawsuits, claims, taxes and accidents can jeopardize your assets and overall well-being. A qualified wealth advisor can develop a plan based on the particulars of your situation that protect your assets. This is done in a way that makes assets difficult to reach in the event of a claim, but does not attempt to hide assets.

Attempting to self-manage asset protection could result in violating fraudulent transfer laws. Transferring assets in a manner that is not legally accepted can be viewed as fraud and may have considerable legal and financial repercussions. Therefore, asset protection is best left to professionals.

Unexpected liability can come from a number of sources including:

  • Tax liability at the state, federal or local level.
  • Accident claims at your home or place of business.
  • Business creditors.
  • Individual creditors.
  • Medical expenses.
  • Marriage dissolution.
  • Litigation.

Generally, there are three primary methods for protecting assets legally and ethically:

Insurance: This is the easiest way to protect your assets and wealth in case of a catastrophic event. Reviewing all policies, including life insurance, disability insurance, medical insurance, long term care insurance, property insurance and general liability insurance, is crucial to knowing if your current level of insurance is sufficient to address your needs. If insufficient, our team will provide a course of action for obtaining or increasing insurance levels.

Statutory Protection: Laws exist at both the federal and state level that outline what assets are excluded from lien in the event of a judgment. Commonly excluded assets include:

  • Principal residence.
  • Personal vehicle.
  • Prepaid tuition plans for dependents.
  • Life insurance benefits, including any cash value.
  • Wages.
  • Annuities.
  • Qualified Plans.
  • IRAs.
  • Certain Trusts.

Asset Placement: Asset placement means that assets are transferred to a trust, person or other legal entity. If you are held personally liable, creditors are only able to come after assets that you own. Assets that are held by another entity are outside of the reach of a creditor. There are a number of legal issues with asset placement which must be carefully considered with the assistance of a legal counsel.

Our team is able to customize a financial solution that meets your unique needs while minimizing costs and maximizing growth.

Unparalledled service, at your pace.