Administrative Family Office
For those complex families seeking help organizing, managing and administering daily financial affairs.
The Benefits You Should Expect
Your family office team will create a Success Plan in collaboration with you that provides:
An infrastructure and experienced personnel to oversee and manage your financial providers, record and report on financial transactions, and interface and solve for the daily financial needs of family members
- Consolidated recordkeeping of your assets and planning
- Proactive management of providers, accounts and cash flow
- Reporting and objective analysis of all investment performance and tax information
- Management and negotiation of provider costs
- Knowledge of and control over all expenses
- Single point of contact for family members and other providers on daily financial matters
Objective advice & exceptional service
Sample Deliverables
- Goals-based financial and cash flow planning, liquidity management and capital sufficiency analysis
- Tax aware advice on asset location and income and gift tax return reviews
- Estate plan reviews and recommendations
- Financial recordkeeping and document retention
- Expense management, including the establishment of internal controls, bill paying and comprehensive expense reporting
Objectivity & Alignment: New Choices for Families and Advisors
Read the transcript of GenSpring CEO, Mel Lagomasino discussing this topic at the 2007 CFA conference.
What is an ADV?
Form ADV is a two-part form that the SEC requires of investment advisers and encourages people to read, as do we. In Part 1, be sure to look at Item 5 (B.2 and E)... any registered representatives? Commissions? Also, glance at Item 8 (A.1)...any principal transactions? And frankly, if you have enough patience for it, Schedule F in Part 2 will spell out the conflicts of interest that are less obvious in Part 1.
Not All Advisors Are the Same
In this white paper, Mel Lagomasino, GenSpring's CEO, explains how to tell the difference between a wealth management firm that is selling investment products and one that is your advocate and advises solely on the merits.