Ed Lyon makes another appearance on the podcast to talk about something that’s going to revolutionize the financial services industry — the Fractional Home Office. By bringing together all the related financial services and putting them all under one roof, Fractional Home Office will reduce the amount of taxes people pay, and change the way they approach their finances. Ed and John discuss who the Fractional Family Office is targeting, why data plays such a huge role, and how it’s going to change the way Americans get their financial services. Tune in to find out more.
[:19] John introduces his guest for this episode — Ed Lyon.
[1:09] Ed and John discuss how the Fractional Family Office is all about putting all the financial services under one roof.
[6:46] The Fractional Family Office operates on the premise of lowering taxes.
[9:49] Ed created a spreadsheet on the risks associated with some of their proposed tax strategies. He explains more about it, and how it reduces audit risk.
[16:13] What’s the big deal about a family office?
[22:28] The owner of the Fractional Family Office cannot be a financial adviser. Ed explains why, and what the requirements are for a CPA or accountant to be part of the Fractional Family Office.
[25:18] It’s not just about the services provided, it’s about the data.
[29:04] It is an interesting problem when someone has all the data but isn’t using it. The Fractional Family Office targets this problem.
[37:03] The market is moving away from numbers-in-boxes because AI and robots will be able to handle the basic accounting tasks.
[42:07] The goal with Fractional Family Office is to change the way Americans get their financial services.
[43:03] The launch date for Fractional Family Office is the 1st of August, 2019.