Auro Professional Robertson
Trusted Family Wealth Office
About our accounting firm:
We consider our firm to be so much more than your everyday accounting firm.
We pride ourselves with excellent service and continuity. Our focus is on the co-ordination of the various elements of your wealth structures for optimal efficiency and maximum simplicity. We believe it is vitally important that the interaction between the relevant elements of wealth, risk and taxation planning be constantly evaluated to ensure optimal structures and succession planning.
NIEL DU PLESSIS
Niel has over 10 years’ experience working as chief financial officer and operations executive in the manufacturing and information technology sectors. This contributed to a very practical understanding of the financial, fiduciary and administrative aspects within business and also the operational aspects associated with manufacturing, from supply chain to production management on an international scale.
He also has vast experience from working within the corporate advisory environment providing services to entities ranging from listed companies to individual enterprises. Services ranged from tax consulting, corporate governance, transaction structuring, auditing, accounting, family business structuring, black economic empowerment, human resource management and various training and development initiatives on socio-economic and financial aspects.
Niel is a Chartered Accountant (CA (SA)), Trust and Estate Practitioner (TEP) and registered tax practitioner.
Our accounting services range from bookkeeping and management accounts to financial statements and reviews. Our clients are always at the centre of what we do because we know that no two businesses are the same.
Not all accounting firms are created equal. Extra service and advice are what separates a good firm from a great one. At Auro Professional we consider ourselves to be great.
When you have an idea, an experience that you know is divinely inspired, you feel the need to act upon it, and quickly!
Like all great journeys, this one too will start with a single step. I have been privileged to be exposed to a number of business models, service providers and exceptional people that assist to shape and mould an idea into an executable business model.
The term “family office” or “family wealth office” is not a new concept internationally, it has however been revealed to me as a value contributor to our clients.
The family wealth office is the one stop shop where the administrative, accounting, wealth, taxation and risk aspects of a family’s wealth and business affairs are managed collectively and holistically. This is achieved through interaction with existing service suppliers or the introduction of new service suppliers, but always coordinated with the family’s bigger wealth picture in mind.
But is this coordination necessary? Based upon my experience, it is a prerequisite! Consider the following pitfalls that are regularly encountered:
- Accounting records are haphazard and unclear
- Minutes of meetings are not kept or do not express the decisions that are taken and implemented
- Wills are not signed correctly and are not accessible when needed or are contradictory to the testators wishes
- Insufficient (or sometimes excessive) insurance cover for critical events
- Non-compliance with Companies Act, Trust Property Control Act, Income Tax Act and other legislation
- Inefficient tax planning and misalignment between the different elements of tax. Here the low levels of planning surrounding balance sheet tax is especially prevalent.
- Poor communication between family members and no common goal alignment
- Insufficient or lack of succession planning
A family’s wealth is just like a business, and needs to be managed as such. That being said, many businesses only perform as well as they are managed, this is where the opportunity and value contribution lies!
Our family wealth office specialises in the effective management and holistic coordination of family wealth. We work in conjunction with your existing service providers or manage the various elements of the family office internally based upon the specific circumstances of the client.
Our services are grouped under Accounting, Tax and Solutions. These elements have a very close interaction and we monitor that the various elements under management or oversight do not become disjointed.
Earlier in my career, my one employer used the phrase “Trusted Business Advisor”. I wish to reword this to “Trusted Family Advisor”, this encompasses the family and business aspects of the family’s wealth and I hope we at Auro can be of service to you in this regard. Areas of service are depicted in the graphic below, the holistic co-ordination between the various elements of the family’s wealth, is where the value proposition is.
In order to build our relationship, you are welcome to engage us on only certain aspects of our holistic offering. Let us prove our value in this and you can entrust us with more elements of your family’s wealth management and administration as we progress.
Every journey starts with a single step, I look forward to walking with our clients to conquer what lies ahead.
Agricultural business is not merely another sector we crunch numbers for, it is part of our very makeup.
Some of our team members come from farming families. Specifically, our director, Niel du Plessis grew up on a diverse operational farm and is still involved in the running of various agricultural businesses. If you combine this real-life farming experience with our sophisticated level of financial and accounting knowledge you have the perfect team to walk with you as your operation grows.
We put great value in the fact that your agricultural business could be new or have a rich history. Generations have been and will be involved in the years to come. As a farming business you not only need to provide food for the world, but you need to put food on your own table. We therefore become invested in your past, review your current situation, and help you to make plans and goals for the future generations to come. We believe it is vitally important that the interaction between the relevant elements of wealth, risk and taxation planning be constantly evaluated to ensure optimal structures and succession planning.
In agriculture you must be open to adapt and evolve with all the constant changes in methodology, technology, economy, competition, laws and taxes. There are so many more elements that affect your business daily, like the weather, availability and cost of equipment and changes within your family. We pride ourselves in being on top of the game to adapt your processes with your ever-changing business.
An agricultural business has unique needs, and we believe that Auro Professional has the necessary background and skills to understand and appreciate the business that you are in.