The New Definition of Family Office

Sep 25

When you hear the term Family Office, what is the first thing that you think about?  Do you think of it in financial terminology or maybe related to the medical field?  Within the financial industry, the term Family Office typically meant an advisory firm that serves ultra-high-net-worth investors. I am here to help change that definition.

I have always believed that anyone could use help with their wealth planning.  Whether you are just starting out, in the middle of your career, or you have retirement in your sights, life is full of transitions that need our attention from both a financial and personal perspective.

How many of you believe that your personal life intertwines with your financial life?  Think about all the decisions big and small that you make; I bet there are situations where your personal life takes priority over your financial life and vice versa.  However, when making these decisions, I bet that they are both on your mind.

As an example, what if you hate your current job so much that you wanted to quit, rest assured you are likely thinking about your finances and how you might be able to manage without income for a stretch of time.  And what about that big trip that you would like to go on, have you saved for it or will you throw caution to the wind and just book it?

It’s not the little decisions of everyday life that have the biggest impact on our personal and financial lives; it is the big decisions such as where to live, what career path to follow, the decision to have “multiple” kids or to rent or buy a house to name a few.  Decisions such as these, have a bigger impact on both our personal and financial lives than whether we drive through Starbucks today.

When these big life transitions and decisions happen, how do you go about making the right or best decision at the time?  Do you go with your gut, do your own analysis, or talk to as many people as you can which often can lead to overwhelming and bad decisions because people have their own biases just like you?

The Family Office that I am developing is not for ultra-high-net-worth investors; it is for the families that live in the same community that I do, that go to the same schools as my kids, the kids that are in the baseball team that I coach.  It is for the family struggling to figure out how to live on one income after the loss of a job, the entrepreneur who is ready to strike out on their own, or the couple trying to figure out how to balance the financial priorities tugging at them such as how to afford saving for retirement, kids’ education, and increases in everyday living expenses.

My new definition of Family Office offers wealth planning, portfolio management, and tax preparation together.  Going beyond that, it means that we work with people on cash flow management/budgeting, insurance, charitable giving, family-owned businesses, estate planning, tax planning, and yes even career advice.  But more importantly, my definition includes the ability to be your financial and life partner to help you make the big decisions when major and minor life transitions happen.  And to know that you have someone that you can talk to and rely upon for unbiased advice that is truly in the best interest of you and your family.

We get you.  We understand your challenges of raising strong, independent children, building a business or career, preparing for your future, balancing work and life.  We have a devotion to planning finances and life transitions for families like you because we are you.