We are often asked; “What is GROCO and what does GROCO do for its clients?”. This article will attempt to briefly answer those two questions.
GROCO, also known as GROCO.com or Greenstein, Rogoff, Olsen & Co., LLP, is a family office tax and advisory firm founded in 1964 by Morey Greenstein, CPA. Since inception it has remained a premier Silicon Valley CPA and advisory firm now led by Alan L. Olsen, CPA, as Managing Partner. GROCO has won numerous awards for being a “Best Place to Work”, “Top 25 Best Managed CPA Firm in the US” and numerous other awards and recognitions.
Why We’re Successful
Simply put, GROCO serves ultra-high net-worth individuals, venture capitalists and family offices, in two specific ways; we keep them out of trouble with the IRS, and we leave them alone.
This is possible for two reasons, first, the firm is uniquely positioned, individually and collectively, to be objective trusted advisors because we never sell investments, nor does any other division of our firm. This is significant and rare in the CPA community. Second, GROCO is an advisory firm comprised of CPAs expert at family office and complex tax compliance, liquidity events, planning, advisory and strategy. In addition to what typical CPA and accounting firms can do, GROCO has been asked for, and have expertly provided, all the following services:
- GROCO CONSULTING/ADVISORY SERVICES
- GROCO CONSULTING SERVICES
- GROCO ADVISORY SERVICES
- GROCO FAMILY OFFICE SERVICES
- GROCO FAMILY OFFICE WEALTH
- GROCO RELATIONSHIP SERVICES
- GROCO TAX
- GROCO TECHNOLOGY
How We’re Successful?
These and other services can be provided in various forms, including lifestyle coach, tax preparation, general advisory and simply crunching numbers for a prospective acquisition or tax strategy. Every service helps clients keep and grow the wealth they already have. We are the trusted advisor that can objectively consult as a personal or in-house CFO or consigliere. As such, we have helped clients with everything from family governance and paying bills, to preparation of complex tax returns, strategy, estate planning and even family legacy. Clients often prefer we worry about their most complex financial issues, so they can focus on what is truly important to them, family and preferred lifestyle.
How we’re Unique
GROCO is unique in several ways; we offer three levels of service that can be considered bronze, silver and gold. With our lowest, the bronze, being comparable to what standard CPA or accounting firms offer. Our gold being a full-service family office offering, with the silver being in between. All three enjoy a far superior billing mechanism for clients. A typical accounting firm engages with clients only four or fewer times a year, often just once, to prepare tax documents. By this time, many opportunities to mitigate tax consequences have passed or are no longer available. On the other hand, GROCO feels we should be available all year long to better serve our clients with the strategy and advice that will help them when they need it most. The timing of these opportunities rarely coincides with the quarter or year-end.
Client’s Time is Their Most Valuable Asset
To eliminate the fear of creating a large new bill every time our clients call us, we establish a fair, monthly rate that includes the cost of preparing the tax return, so our clients have access to us all year long for timely answers to their most pressing questions. This immeasurably helps preserve strategy, wealth preservation and reduces tax consequences. Over time, the monthly amount can be adjusted up, or down depending on the level or amount of assistance required. It becomes much more than just a tax season relationship and more of a partnership, where we worry about the tedious and complex tax and financial issues all year long, so our clients can get back to thinking about what’s important to them. The most important things in life often come down to relationships and how we choose to use our most precious and limited resource, time.
We hope you found this article about GROCO helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our home page www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
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