The founders of JDJ Resources Corp. said on Wednesday they have left the Rothstein Kass Family Office Group to launch JDJ Family Office Services, an independent firm that will provide administrative multifamily office and personal CFO services to high-net-worth individuals and families.
This is the second time former Family Office Group leaders have left the accounting firm to form their own family offices since Rothstein Kass was bought by Big Four firm KPMG LLP in late May.
Boston-based JDJ Family Office Services will retain its entire 21-person staff and will “continue to deliver the same suite of customized services to its existing and expanding client base,” according to a release.
JDJ Resources Corp. was founded in 2001 and merged with Rothstein Kass in 2012. Under the leadership of the current JDJ Family Office Services team, Rothstein Kass increased its Boston office client base by 13 percent and gross revenue by 33 percent in 2013, the release stated.
“We are thrilled to be independent again. This change allows us the ability to provide the levels of service that are expected and required in the family office industry,” JDJ Family Office Services Partner James Kittler said in a statement. “We believe the family office industry is in a growth stage and this provides us the perfect opportunity to expand on the service model we created at JDJ and enhance the customized service solutions we offer to our clients and their advisors.”
Reutersreported on June 10 that Rick Flynn, who was principal-in-charge of the Family Office Group at Rothstein Kass, and several others split from the firm to form Flynn Family Office, which began operations on June 1.
The firm is set up to provide customized family wealth strategies that help with decisions from buying or selling a company to finding charities to donate to, according to the article.