The Morgans, Melons and Rockefellers didn’t take their financial affairs to a bank or brokerage. They employed a private FinancialTeam of experts to proactively research, negotiate and select financial opportunities across the globe that served the family’s best interest. This was the first official version of today’s “Family Office”.
Of course, not all affluent families are world famous. In fact, many don’t necessarily regard themselves as “wealthy” or feel the need for an entire Team of experts. But the cornerstone feature of a true Family Office, in a word, is “Trust”.
And everyone needs that.
Today, families of all sizes have a private FinancialTeam of experts to serve the best interests and objectives of their family. The family confidently relies upon a collaboration of these best-and-brightest minds and their consensus-driven guidance for each financial decision the family makes - with absolute discretion.
With a dedicated team of experts standing at their front gate, the family is insulated from conflicts of interest and the constant barrage of sales pitches. They don't have to pay retail prices or make large purchases without professional research and negotiations. They employ sophisticated strategies to reduce risks, minimize taxes, and take shelter from financial predators. And they safely transition the family’s legacy and stewardship values to multiple generations of future children and grandchildren.
With a platform of savvy, modern-day technologies and a competent home office staff behind them, FirsTrust can advise and manage a family’s comprehensive financial assets, regardless of what they are (investment accounts, real estate, farms, art collections, etc.) or where they may be held (US or internationally). Plus, with consolidated, real-time data and customized reporting, each family can remain fully informed and track their performance against the family’s established benchmarks.
Chief Operations Manager on staff Comprehensive Financial Planning
Investment account data aggregation Plan implementation and monitoring
Consolidated account reporting Family Governance & Education
Cash flow analysis and tax reporting Multi-Generational Legacy planning
Simplified Tax reporting Estate & Tax management
Secured on-line document storage
Chartered Financial Analyst (CFA) on staff IT Systems Expert on staff
Investment strategy and oversight Cyber Security Information Management
Sub-Advisor portfolio review services Written & Updated Policies & Procedures
Collaborative Portfolio Construction System Encryption Protocols
Investment Committee Participation Data firewall security
Investment Policy Statement Guidance Systems Risk Management Guidance
Proxy Voting Protocol Maintenance
Client Portfolio Risk Analysis System
Regulatory Compliance (Multi-Family Office)
Compliance Officer on staff
SEC compliant protocol maintenance
Disaster Recovery Plan
Written & Updated Policies & Procedures