In differing family circumstances, how best to deliver this advice can vary.
For some new clients, a ‘walk before you run’ starting point suits them best. We prepare a comprehensive advisory report that covers and integrates:
- Personal priorities
- Cash and debt management
- Income tax
- Risk management
Our process involves 2-3 meetings, if partnered, always with both parties, to gather information, present our report and recommendations, and to assist in implementing action steps.
A set dollar fee, ranging from $3,000 to $10,000, is discussed and agreed before proceeding.
Executive Wealth Management
Planning without action is a waste of time and money. Most new clients recognize this and see value in our ongoing advisory role. As your ongoing advisor, we expect to reduce administrative time and noise, present clear and current information that will aid prudent decision making, and from time to time present ideas you may not be aware of.
Our process starts with the same FULL PACKAGE plan preparation and continues with yearly tax return preparation, coordination of ongoing investments with quarterly reporting and at least annual update meetings.
The Doherty & Bryant fee is charged as a percentage of investment assets. Fees for investment management are charged separately. We research and recommend independent investment management firms and often succeed in negotiating reduced fees on your behalf. All fees savings are passed on to our clients.
Families who have created $15 to $50 million of Net Worth often face new financial issues and complexities, different planning opportunities and challenging family dynamics. Many wealthy families are also often surprised by the increase in time commitments wealth creates instead of the freedom first expected.
The Family Office concept originated with very wealthy families who hire a designate team of professionals to manage their personal wealth. This approach is complicated and expensive. Our ‘Multi-Family Office’ approach is similar in service intent but differs in that we coordinate a team of sub-advisory professionals, not employees.
This service incorporates all of the key features of a Family Office, including independent and objective financial counsel, independent and sophisticated investment management, integration of all financial issues, access to specialty professionals when needed, attention to family and charitable objectives, all with enhanced privacy and cost efficiency.
The Multi-Family Office service typically works best with family Net Worth in excess of $15 million. Annual fees are based on Net Worth and are discussed and agreed upfront.