Challenges that family offices face in developing and maintaining an effective bookkeeping and bill payment system

Edward Marshall is joined by Joe Farren, President of My Account, a bill payment and personal bookkeeping firm for families and executives. They discuss the challenges that SFOs and MFOs face in developing and maintaining an effective bill payment system and trends in the bill payment and wealth management technology space. They also discuss bookkeeping and bill payment operational best practices, in-sourcing/outsourcing considerations, and potential pitfalls to consider.