There was an interesting piece in the Forbes January edition by Rob Clarfeld, a leading New York-based multi-family office, on the indicators that a wealthy family might benefit from upgrading to a family office.
A family office is defined as a private wealth management advisory firms that serve ultra-high net-worth investors, according to investopedia.com. They are different from traditional wealth management shops in that they offer a total outsourced solution to managing the financial and investment side of an affluent individual or family. For example, many family offices offer budgeting, insurance, charitable giving, family-owned businesses, wealth transfer and tax services.
Rob Clarfeld's article does a great job of summarizing some of the motivations affluent families have for forming a family office or hiring an outsource family office provider, like InTrust Advisors. To read this full story in Forbes Magazine...click here.
Here are his glaring signs that you are in need of a family office:
If this describes you, we would love to answer any questions you might have about outsourced family office services from InTrust Advisors as a possible solution.
We can tailor our program to fit your specific needs and we do not necessarily have to manage your liquid assets to provide this service.
Find out more by clicking here.