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Selecting the right wealth advisor is one of the most important decisions a wealth owner will make. A successful search requires a significant investment of time, talent and resources to ensure a thorough and disciplined due diligence process. For the past 20 years, Family Office Exchange (FOX) has worked with families of exceptional wealth and has facilitated their assessment and selection of wealth advisors. The FOX Directory of Leading Wealth Advisors offers wealth owners a head start in the due diligence process by providing profiles on more than 20 leading wealth advisors.
Key Attributes
As families investigate options, they should keep in mind the following characteristics which FOX has found often lead to successful long-term client relationships:
1. Objective financial advice – Most of these firms use a model of "open architecture." Look for firms with no conflicts of interest between their clients' goals and their business goals, where is a distinct separation in the process between financial advice and product selection, and where the firm has the ability to make sophisticated "make or buy" decisions.
2. Creative solutions to financial problems – The firm should offer a broad array of sophisticated strategies/services, provide integration of financial goals and employ a team of skilled professionals with experience across disciplines.
3. Individualized planning approach – Look for firms who offer each household the ability to establish separate financial goals, while allowing for the "pooling" of key planning techniques for all members of the larger family group (family partnerships, multi-generation trusts, etc.,). These firms have a commitment to combining a long-term view toward client relationships with practical, targeted shorter-term objectives.
4. Delivery of complex services in a consistent manner – The firm should deliver high quality service and integrated reporting that allows for better decision-making in a timely manner. The firm should meet with the client on a regular basis to discuss their financial affairs. Firms able to consistently match client needs with the skill sets in the organization excel at managing client expectations.
5. Relationship pricing across the larger family group – Most firms will offer pricing discounts to family groups with significant assets under advisement. Each individual client is treated separately, but a "group discount" is available if the family stays together when they select an advisory firm.
Distinctive Services
Both multi-family offices and integrated wealth advisors are intimately familiar with the demands of individuals and family groups. Their services and fees, as well as the background and expertise of their professionals are focused on advice, problem-solving and client advocacy. Their focus is on the client relationship, rather than the products sold. FOX differentiates between integrated wealth advisors and multifamily offices to help you gain a better understanding of the services likely to be provided by the firms listed.
Figure 1 defines the differences between investment, integrated wealth and Multi-Family office advisory firms.
The 2009-2010 FOX Directory of Leading Wealth Advisors is designed to be a resource to help wealth owners determine what to look for in a firm and to access important information that you can use to narrow your choices. The directory is not intended to replace personal communication and in-depth interviews. Additional due diligence, communication and education are essential in a successful search and selection of a multi-family office or integrated wealth advisor.
About Family Office Exchange
Since 1989, Family Office Exchange (FOX) has been the definitive source of insight and best practices associated with the business of managing family wealth. Celebrating our 20th anniversary, FOX remains true to its founding mission of shared knowledge, owner education and peer exchange across a sophisticated, global network of wealth-owning families. Members benefit from the collective experience of their peers and advisors that is shared throughout the year via member events, best practice studies and peer-to-peer benchmarking, webinars and a private online discussion forum.
Directory of multifamily office and wealth advisory firms
Alexandra & James
Anchin, Block and Anchin LLP
Argos Partners, LLC
Ashbridge Investment Management, LLC
Atlantic Trust
Canadian Family Futures Inc.
Cedar Street Advisors
Century Wealth Management, LLC
Clearbrook Partners
Convergent Wealth Advisors
Deutsche Bank Private Wealth Management
Eton Advisors, LP
Fidelity Family Office Services
Fiduciary Trust Company International
Frost Wealth Management Services
Geller Family Office Services LLC
GenSpring Family Offices
Glenmede Trust Company
Gresham Partners, LLC
Harris myCFO
Harvest Financial Advisors, LLC
Hawthorn
Hemenway & Barnes LLP
HSBC Private Bank
Kanaly Trust
Laird Norton Tyee
Legacy Family Office, LLC
MAI Wealth Advisors, LLC
Manchester Capital Management LLC
Mirador Family Wealth Advisors
Morgan Stanley Trust, N.A.
Neuberger Berman
Northwood Family Office LP
Pictet Family Office
Pitcairn
Rockefeller and Company, Inc.
Rothstein Kass
Sentinel Trust Company, LBA
Shelterwood Financial Services LLC
Silver Bridge Advisors, LLC
South Dakota Trust Company LLC
State Street Global Advisors
TAG Associates, LLC
The Myer Family Office Ltd.
The Northern Trust Company
The PrivateWealth Group
at The PrivateBank
The St. Louis Trust Company
Threshold Group
Tiedemann Trust Company
Tolleson Private Wealth Management
U.S. Bank – The Private Client Reserve
U.S. Trust, Bank of America
Private Wealth Management
UHY Advisors TX, LLC
Vogel Consulting
Wells Fargo Family Wealth Group
Wilmington Family Office
Directory of multifamily office and wealth advisory firms
Acacia Wealth Advisors
Alaska Trust
AM&M Financial Services
Arlington Partners Family Office
Aspiriant, LLC
Athena Capital Advisors, Inc.
Baldwin Management, LLC
Ballentine, Finn & Company, Inc.
BBR Partners
BCG Companies
Bessemer Trust Company, N.A.
BKD Wealth Advisors, LLC
BNR Partners LLC
Calibre Family Office Services
Catalyst Financial Planning &
Investment Management
CFG Business Solutions, LLC
Cherry Tree Family Office
Coppertree, Ltd.
Coyle Asset Management
Credit Suisse Private Bank
Cypress Wealth Advisors
Erben Associates, LLC
Filament, LLC
Financial Clarity, Inc.
Financial Concepts Inc.
Financial Controllers, Inc.
Financial Management Partners
Financial Vision LLC
Gleneagles Group
Greycourt & Co., Inc.
Guggenheim Partners, LLC
Halbert Hargrove
Hale & Dorr Capital Management
Highmount Capital LLC
Hillview Capital Advisors, LLC
Hudson Advisor Services, Inc.
Inlign Wealth Management LLC
Insurance Design Center
Insurance Management Consultants, LLC
J & T Roush Family LLC
Jacobus Wealth Management, Inc.
Lau Associates LLC
Legacy Trust Company
Legacy Wealth Group
Legg Mason Investment Counsel
Lexington Family Office Services, LLC
Lipson Group Inc.
Lowenhaupt Global Advisors
Mahoney Cohen Family Office Services, LLC
Marquette Asset Management
MCM
Meristem Mutlifamily Office
M Financial
Nease, Lagana, Eden & Culley Inc.
NY Private Bank and Trust
Northern Trust Wealth Management Group
OPTIVEST, Inc.
Oxford Financial Group, Ltd
Pepper International
Plante & Moran Financial Advisors
Prosperitas Group
Raymond James Trust
Savant Capital Management, Inc.
Signature Financial Management, Inc.
Silvercrest Asset Management Group
St. Louis Trust Company
Sterling Private Wealth &
Family Office Counsel
Sumnicht & Associates, LLC
TBK Investments, Inc.
Telemus Wealth Advisors LLC
Truepoint Capital, LLC
WealthTouch Advisors
Welch & Forbes LLC
Yolles-Samrah
To learn more about the FOX 2009-2010 Directory of Leading Wealth Advisors, please visit www.foxexchange.com or contact KarenNeal@familyoffice.com.
