Successful families have unique opportunities, and with that comes responsibility and complexity. They need solutions that go beyond typical wealth management. Some families form a Single Family Office (SFO), a team that is employed by the family to handle all their financial anffairs. This is costly and time-consuming.
What if you could have a team with comprehensive expertise and pool your resources with other families to lower the cost, all without the headache of building the team from scratch? That’s where a Family Office — sometimes called a Multi-Family Office (MFO) — comes in. A Family Office provides comprehensive financial services to UHNW families.
In addition to receiving comprehensive service at a fraction of the cost of a Single Family Office, here are some of the other advantages of our Family Office offering.
Because we are hyper-focused on this area, our team, research, and processes are all geared to set the standard for MFO service. We are constantly working to be up-to-date on best practices, as well as exploring new avenues for growth. The typical financial advisory firm doesn’t work with UHNW families, they simply don’t have the opportunity or motivation to gain this expertise.
Since we work with multiple families, there is a diversity to our experience that a single family office can’t provide. This exposure safeguards us from becoming insular in our thinking and makes sure we are reaching our goal of always challenging the status quo on behalf of our clients.
Our Family Office engagement provides an in-house tax, legal, and investment team. Additionally, our integrated partners provide family bill pay, a digital family office, asset protection strategies, and more.
With aggregated resources, an MFO can offer access to exclusive, private investments and other alternative opportunities usually reserved for large endowments and institutional investors. These investments are often bespoke to the UHNW families working with the Foster Victor Family Office.
Many UHNW families are multi-generational, so our Family Office includes family governance and education, charitable giving and philanthropy strategy, and estate planning. We have found that these clients are remarkable people and that extends to the legacy they wish to leave. It’s particularly fulfilling for us to help them realize their dreams and goals in these areas, because it’s the people, relationships, and the good they do that inspires us to do the work we do.
At Foster Victor we continue to redefine the client experience. Our family office engagement is the culmination of decades of work refining our process and honing our craft.
