FAQ

Questions

• How can you ensure my finances will be safe and kept in the highest confidence?

  As we also mentioned under benefits for outsourcing, we at Burgher Haggard:

  • System enforced separation of duties
  • Employ local and national background checks on every employee we hire
  • Conduct an annual SOC Audit to ensure we are able to provide the most effective and accurate management of client finances.

• Is your pricing based upon Assets Under Management (AUM)?

  Our pricing is based upon time it takes to complete an outlined scope of work, rather than assets under management. Most of our bookkeeping work is performed under a fixed fee model where the scope of work is billed monthly or quarterly, based upon the time estimated to complete the set scope.

• Do you serve clients across the United States?

  Yes, we serve clients located across the United States. Our technology enables us to communicate with clients, obtain approvals, and deliver reporting virtually so we are accessible to our clients, regardless of where they are located.

• What does the bill-pay and approval process look like?

  We receive bills for our clients via a folder within our secure portal, an email inbox designated for a specific client, a client PO box that we check daily, or a combination of a couple of these. Once a week, a member of our team will input the invoices into accounts payable for processing. These invoices will be reviewed and posted by another member of the team. The list of invoices cued up for payment will be sent via email to you for your approval. This email will include a list of the invoices with links for you to view each invoice. Once you reply to the email with your approval, a third member of the team will initiate payment for these invoices.

• I’m used to having people around me to do all my company and personal accounting and back-office work.  Why change that?  What are the benefits of outsourcing?

  By outsourcing your accounting, you may be able to get the same work done for a lower cost, without the need for a physical office. You will also be able to spend your time doing what is the highest and best use of your time, which may not be managing others, creating processes, or setting up technology. Outsourcing your accounting also allows you to travel more freely and live in multiple places as your staff is virtual.

  Key man risk will also be minimized as our team members are cross-trained and we are set up to handle team changes without reporting being affected. Our staff is also highly motivated to find the best technology and processes to make their jobs more efficient. Our structure with segregation of duties helps minimize the risk of error and fraud compared to an in-house accounting team.

  Our firm also has robust insurance protection as well as exposure to various processes best suited for clients like you.

• Do you manage investments?

  We do not manage investments or provide investment advisory services. 

  We provide independent investment aggregation and reporting services for all types of liquid and illiquid investments. 

• Do you use anything proprietary where I get locked into something I cannot get out of?

  Our contract can be released at any time by providing a 30 day notice to terminate. We do not use any proprietary software; should you choose to terminate your contract, you will receive all of your data.