Harris myCFO

Harris myCFO

Company type	Subsidiary
Industry	Wealth management, Financial services
Predecessor	myCFO, Inc.
Founded	1999
Founder	James H. Clark (founder of myCFO, Inc.)
Fate	Acquired by Harris (BMO Harris Bank) in 2002
Headquarters	Chicago, Illinois , United States
Key people	Joe Calabrese (President since 2002), Craig Rawlins (President of Investment Advisory Services LLC since 2009), John Benevides (President of Harris myCFO, Inc. since 2010)
Products	Investment advisory, family office services, tax planning, estate planning, trust administration, risk management, insurance consulting, philanthropic strategy, family education programs, capital advisory, banking services
Parent	BMO Harris Bank

Harris myCFO represents the wealth management sector of BMO Harris Bank in the United States, focusing on serving high-net-worth individuals and their families. In 2002, Harris completed a $30 million acquisition of myCFO, Inc., a company originally established by James H. Clark. As of 2011, Harris myCFO managed assets exceeding $18 billion, providing investment advisory and family office services. The firm was ranked seventh by Forbes among leading fee-only investment advisors.

Harris myCFO

Harris myCFO Inc. delivers comprehensive wealth management solutions that blend independent investment advisory with multi-family office services. Their portfolio includes investment advisory, tax planning, detailed financial reporting, expense oversight, estate planning, trust administration, risk management and insurance consulting, philanthropic strategy, family education programs, capital advisory, and tailored banking services.

Since 2002, Joe Calabrese has held the position of president, guiding the company’s strategic development and expanding its market presence.

Harris myCFO Investment Advisory Services LLC

Registered with the Securities and Exchange Commission, Harris myCFO Investment Advisory Services LLC operates as an investment advisor connected to Harris N.A., a nationally chartered bank with trust authority. This entity caters to wealthy clientele by combining investment management with broad financial services.

Craig Rawlins assumed the presidency in December 2009. His background includes executive roles at Russell Investment Group, Ernst & Young, and Gresham Partners.

Harris myCFO, Inc.

Specializing in family office offerings, Harris myCFO, Inc. provides services such as financial planning, wealth transfer strategies, tax and risk management, philanthropic guidance, expense control, estate and trust administration, liquidity planning, and extensive financial reporting.

John Benevides became president in October 2010 and is responsible for overseeing these operations. Prior to this role, he was co-owner and President of Family Office Exchange (FOX).

Recognition

• Placed 7th on Forbes "Top 50 Financial Advisors" ranking (2011)
• Positioned 9th on Bloomberg Markets’ "Top 50 Family Offices" list (2011)
• Achieved 3rd place on Forbes "Top 50 Fee-Only Advisers" list (2008)

Locations

• Palo Alto, California
• Chicago, Illinois
• Seattle, Washington
• New York City, New York
• San Francisco, California
• Los Angeles, California

Criticism

In 2002, myCFO became subject to a federal inquiry regarding controversial tax shelter activities. By 2005, the American Arbitration Association ruled unfavorably against myCFO and its partners due to their participation in these shelters. In 2008, tax attorney Graham Taylor—associated with myCFO and formerly employed by LeBoeuf law firm (which provided tax shelter products for the company)—was convicted on charges of conspiracy and assisting in filing fraudulent tax returns. Additionally, several accountants and lawyers faced indictments in 2005 for conspiracy to defraud the U.S., including allegations of mail fraud, wire fraud, and tax evasion.

See also

• Bank of Montreal
• Peter Solvik

External links

• Official site of Harris myCFO