A Bermuda-based family office and wealth management firm has announced plans to expand overseas with the setting up of new offices in the US and Canada to meet growing customer demand.

Family Office Reporting Solutions (FORS) Ltd., which provides services for family offices, trust companies and high-net-worth clients, was founded in 2005 as a spinout from a Big 4 accounting firm, but has now set its sights on increasing its headcount on the Island as well as launching new operations in New York and Toronto.

"For many of our clients, we serve as their 'virtual' CFO, providing the family with accounting, web-based consolidated net worth reporting, investment monitoring and risk analysis, as well as coordinating their trust, legal, banking and tax relationships," said Tim Calveley, FORS CEO.

"This allows family members to concentrate on their businesses or personal interests with confidence that their financial affairs are being looked after by an independent organisation whose objectives are aligned with those of their own.

"During this exciting time in the industry, FORS will be hiring exceptional staff and leveraging the industry's best technology to serve our clients worldwide.

"We plan to expand our headcount in Bermuda and look for larger office space, as well as open new offices in New York and Toronto."

Allan Wiekenkamp, manAllan Wiekenkamp, managing director of FORS, said the company has a track record of providing a personalised service, combined with the team's Big 4 background and experience in processes, quality assurance and best industry practices.

And Thomas McMahon, FORS' manager of operations, reckons personalised wealth management is a growing industry and will continue in that vein in the future.

"Our new management team combined with our state-of-the-art technology and world-class infrastructure offers the industry a new level of customised service - with the most trustworthy accounting and transparent reporting available," he said.

Mr. Calveley, who joined the company earlier this year, has 17 years of experience in the financial services industry, including 10 years serving in the chief financial officer role in multinational financial services firms based in Bermuda, including the Butterfield Fulcrum Group, Flagstone Reinsurance and West End Capital. He holds the CFA and ACA certifications.

FORS, which is an independent provider of comprehensive accounting services, customised reporting and administrative solutions to family offices, multi family offices, trust companies and private clients globally, delivers comprehensive accounting solution for family offices and trustees, preparation of financial statements, customised investment monitoring and reporting solutions, as well as family office administrative services.

For more information visit the FORS website at http://www.fors.bm