OUR PURPOSE
Engaging our clients in a family office experience that
provides comprehensive wealth & tax strategies,
concierge client services, proactive communication,
and efficient management of client expectations
EDUCATION
- Provide you information that helps you make decisions
- Expand your knowledge base in areas beyond Traditional Asset Classes
- Introduce an environment that is constantly searching for ways to add value
TRUST
- Proactive communications on both sides that help set realistic expectations
- Measure and monitor your financial picture based on current economic conditions
- Assist you in the utilization of your money
CONFIDENCE
- Make sure our philosophy "fits" your mindset
- Determine which of our services you want to utilize at this time
- Create alignment in your mind
ACTION
- Engage in a working relationship where our conversation is transparent and based on your financial picture
- Implement strategies that are in a customized one-size-fits-one model
- Integrate as many resources as possible to simplify your financial life
Characteristics of a Family Office
Although every family office has its own distinct characteristics shaped by its founders' unique DNA, there are certain shared objectives that most family offices seek to fulfill. These goals typically include:
Establishing a formal framework for overseeing and governing the family's wealth
Advancing the family's legacy, vision, and values
Coordinating and consolidating tailored services for the family
Limiting financial and personal risks for family members
Leveraging the benefits of consolidating family wealth accumulation, such as privileged investment opportunities and reduced fees
Safeguarding the confidentiality and privacy of family matters
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Scope of Services
Wealthy families have numerous options for obtaining personal and financial services. A key success factor in forming a family office is to engage the right people to do the right work. For long-term success it is important to establish and periodically reassess the optimal balance between services performed in-house by competent family office employees and those outsourced to qualified service providers.
Compensation Models
Family office provides significant benefits to the family, but not without an adequate annual operating budget. e3 familyOFFICE general rule of thumb is for the annual operating costs to be approximately 2.5 percent of net income for the year (not including fees for assets under management). The industry range can vary widely, depending upon the amount and type of assets under management, the complexity of the family office operations, scope of services provided, and even whether external management fees are included in the calculation.
