Effective wealth strategy inspires calm
The Family Wealth Strategic Review is designed to maximize the reward for investing your time in stewardship. It is a ‘health check’ of the alignment between your family, your goals and the Family Office ecosystem driving your outcomes.
As an experienced trustee, tax lawyer, single family office president, wealth management firm CEO and in-house counsel, I have broad experience within the family office landscape.
I believe families of all scales of wealth should assess the tradeoffs they are making in their family wealth design. Aligning wealth goals with effective action is how I help.
Our Three Step Process
Our Process Explained
Three hours from initial consultation, to the Family Wealth Report, to the Action Plan.
2 hours (1 hour for the more specific questions typically in a boardroom setting followed by 1 hour over a meal for broader inquiries).
To gather essential information about your Family Office ecosystem. The conversation typically includes questions like the following in office:
- What are your internalized Family Office services? What are external?
- What is your Investment Policy Statement?
- How would a specific investment opportunity be reviewed?
- What is your tax strategy?
- What are your accounting and tax compliance processes?
- What is your ownership structure and how does it govern?
And like the following in a more casual setting:
- How do you define family legacy?
- What is your definition of success? Your family’s?
- What rituals does your family have?
- Do any risks keep arising to your attention and focus?
- What are the roles currently being played in the ownership transition?
None the Report will be generated within one week based on Step 1.
To produce a comprehensive report based on your responses. This Report covers the following topics:
- Purpose: Strategic goals of your family office.
- Well-Being: Alignment with your family’s values and well-being priorities.
- Flourishing: Alignment with your family’s values and flourishing priorities.
- Impact: Trade-offs made in pursuit of desired impact.
- People: Effectiveness of the advisory team and family members.
- Risk Management: Handling of physical, financial, and intangible risks.
- Resource Allocation: Efficiency in utilizing time and financial resources.
The report typically covers up to 50 topics and every effort is made to keep it as succinct and valuable as possible. The executive summary is designed to highlight which matters are of likely greatest priority to address in the short term (less than one year) and medium term (one to three years).
To discuss the FO Ecosystem Report and create your FO Ecosystem Action Plan. Often, new goals and new key priorities arise so the action plan is the most valuable component of the Review.
In the Action Plan, we include recommended resources bringing our ecosystem to you. We make recommendations with no referral fees to other service providers that align with our values of excellence, humility and love.
Whatever the definition of ‘Family Office’ you use (the term is probably devoid of a specific meaning at this point), there is no doubt you have a Family Office Ecosystem; a web of external advisors and professionals that interact with you and your internal team.
We use the term ‘ecosystem’ because all families have a family office ecosystem, even when the only ‘in-house’ participants are the family members themselves. After all, this is the beginning structure of all Family Office Ecosystems.