Consulting FO Services

Our consulting service is designed to address a key problem we see in most family office practices. That fundamental problem is this: the more money–assets-possessions-wealth you have, the harder it is to get a clear, accurate and comprehensive picture of what you really have, how it’s doing and maintaining personal control of it.
Establishing a Family Office is a logical attempt to finally getting a handle on one’s wealth. However, in our experience, most people go about it totally backwards. Most people start with the investment management or tax advisory professionals and leave it up to them to create the rest of the team at a typical cost of $1million+ just to get set up. Such an approach invariably leads to the back office and information management component as poorly staffed and minimally managed or is geared toward meeting the needs of the investment and tax advisors not the overall needs of the wealthy family. It’s like constructing a building by first designing and building the penthouse then constructing the rest of the building. Your chance of a strong stable building is greatly reduced. Your family office is the same. To be able to get a true comprehensive picture of your wealth, you MUST start with a solid foundation. Your information and records management process is that firm foundation. Once in place, any other services and advisers you have can build on that foundation and be that much more effective.
It seems so obvious when you really look at it. But virtually none of the family offices that we have studied claim information and document management for the wealthy individual as their core competency. And without that core competency, your wealth is at risk.
The heart of our service is the Dynamic Wealth Management System. It is a set of best practices, a proven process, and a blue print for an effective and efficient family office. Where as standard accounting rules and practices are reactive, tracking transactions, the Dynamic Wealth Management System adds a whole level of PROACTIVE management in the form of data collection protocols and questions plus automated reminders and checklists. These make possible much more comprehensive detailed and versatile reporting, and, at the same time, dramatically reduces the chance of hidden risk exposure or oversight by family office personnel.
Our consulting service is designed to give you that solid foundation on which to build a customized family office service. It will save you hundreds of thousands of dollars in learning curve. Having this foundation in place, you will be able to add services and advisers as need with the certainty that you will maintain control and clarity over all your wealth. And your advisers will receive the accurate, reliable and appropriate information that they need to give you the best advice, thus, eliminating the garbage in garbage out effect.
For a no obligation consultation, call 212-886-9078.

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