Parkwood LLC
Parkwood LLC is a privately held financial services company based in Cleveland, Ohio, founded in 1998. With a team of 52, it specializes in strategic tax planning, investment management, and trust services, while maintaining a close relationship with the Jack, Joseph and Morton Mandel Foundation.
Company Overview
Parkwood LLC is a small, privately held company founded in 1998 and headquartered in Cleveland, Ohio. With a team size of 52, it operates within the Financial Services industry. The company focuses on providing comprehensive financial solutions, including strategic tax planning and investment management services. Its classification as a small business allows for personalized service and attention to client needs.
Services Offered
Parkwood LLC provides a full array of services that include strategic tax planning, investment management, trust administration, and charitable planning. The company also offers multi-generational tax and estate planning, accounting, tax return preparation, and assistance with legal matters. The legal group ensures compliance through due diligence on investments and reviews investment agreements. Additionally, the tax group manages correspondence with tax authorities on behalf of clients.
Investment Approach
The investment department at Parkwood LLC is responsible for sourcing, evaluating, and monitoring both external asset managers and internally managed strategies. The company has developed a systematic approach to selecting and qualifying experienced asset managers across various investment fields. This strategy is supported by a stable asset base and a long-term investment horizon, allowing for investments in less liquid assets.
Client Relationships
Parkwood LLC maintains a close relationship with the Jack, Joseph and Morton Mandel Foundation, serving as its Administrative Trustee. The company serves the interests of the Mandel families, their associated trusts, partnerships, foundations, and other entities. This relationship underscores the firm's commitment to providing tailored financial services that align with the values and goals of its clients.
Tax Services
In the most recent tax year, Parkwood LLC filed approximately 1,600 tax returns, including federal, international, and state filings across 44 jurisdictions. The tax group plays a crucial role in reviewing tax implications related to investment decisions, wealth transfers, and philanthropic activities. This comprehensive tax service ensures that clients are well-informed and compliant with tax regulations.