Pulling the Family Office Together.

A traditional single family office is a business run by and for a single family. The assets are the family's own wealth, often accumulated over many family generations. In addition to investment management, some Family Offices provide personal services such as managing household staff and making travel arrangements.

As a rule of thumb, in investment circles there is an expectation that if your family wealth exceeds $100,000,000.00 then you would consider establishing your own family office. You might even consider piggy backing off an existing family office structure. Think of the family office as a one-stop shop where all of your intergenerational wealth needs and lifestyle requirements are met. The family office thinks of time horizons in decades and makes investment decisions accordingly. The needs of generations are considered with any investment decision.

So whilst not all investors can trigger this asset amount or require all of the underlying services, our approach at Evolution Financial Planning is more based upon a Family Wealth Management model which is focussed on funding 30 plus years of retirement expenses and leaving a legacy for those you love. Sometimes, the siblings and the offspring just don't get along and so the Family Office model may not always be suitable for the surviving beneficiaries and the Family Wealth Management model allows you and your family to enjoy the wealth and provide certainty and confidence but distributes your wealth directly to your children without the constraints and the pressure of maintaining a Family Office structure.

Currently, we are working with an increasing number of families who have been business owners or professionals who don't want to worry about managing their investment assets and want to make sure their family legacy is enhanced. The old days of placing investments and earning a commission are dead. An independent approach that is aligned with the families best interests for a valued fee that is agreed upon before engagement is what wealthy families are seeking.

If your aspiration is to enjoy a retirement whereby you never worry about money again and your balance sheet exceeds the upper asset test Centrelink threshold of $891,500.00 then we are keen to show you how we work with clients like you.