Seven Indicators You Should Upgrade To A Family Office

Published in Forbes, January 2017

You’ve worked with accountants, attorneys, bankers, insurance agents, bookkeepers, financial planners and wealth managers.  Perhaps it really does take a village to manage finances for a wealthy family.  With all the “quarterbacks” in your life, are you completely confident that there are no major gaps, and that your financial plan will smoothly transition to your kids?  If the answer is “no” it may be time to consider a family office.

A family office, whether exclusive to your family or operating on a shared multifamily platform, is the key to ensuring the continuity of your financial values as well as passing assets to the next generation.  The difference between working with a slew of advisors and a family office lies not as much in competence, but in the infrastructure and overall mission.  As opposed to a menu of standalone services and the promise of seldom-achieved integration, a true family office addresses gaps in strategy and assumes a longer-term view of family wealth.