Integrating Wealth, Lifestyle and Legacies
First Affiliated’s role in its work with clients is to provide integrated wealth management, preserve lifestyle and build legacies. We believe that we must obtain an intimate, comprehensive knowledge of your family’s lifestyle goals (which may include helping you define what in fact they are), family dynamics, financial resources, risks, and opportunities in order to properly "quarterback" your family’s efforts over the long term towards the attainment of those goals.
With your Family Office Director as the key connection, our team centralizes planning and communications with your advisors and ensures proactive, accountable and intimate client service. With your unique Family Prosperity Plan™ as a guide, we will create a service platform that is based on your needs, objectives and existing family resources drawing from the First Affiliated areas of service.
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Integrated Financial Planning
A comprehensive financial assessment is the first critical step in the building of your Family Prosperity Plan™. Such a document helps you evaluate your current position and your ability to achieve your objectives for the future. From there, we develop a strategic Financial Plan, which creates an orderly and well-defined road map to the achievement of your financial goals. It is a multi-faceted document that considers tax, investment, estate, risk management, cash flow, business and financial independence planning. Input and co-ordination from your professional advisors ensures the Financial Plan is of the highest caliber. Regular monitoring and updates allows the family and its advisor team to assess current strategies and remain proactive in the pursuit of the family’s goals and objectives.
Integrated Financial Planning services:
- Comprehensive Financial Assessment
- Strategic Financial Plan
- Cash Flow Mapping to Financial Independence Benchmarks
- Multi-Generational Wealth Transfer Modeling
- Integrated Tax Planning: Personal, Corporate and Estate
- Strategic Estate and Trust Planning
- Strategic Business Planning
- Net Wealth Accumulation Benchmarking and Monitoring
- Coordinated Input from Family Professional Advisors
Global Investment Management
The success of each Family Prosperity Plan™ depends on the productivity of client assets. We see our role as guardians of that wealth with the overriding objective of capital preservation, including protection from the effects of inflation and taxation. A suitable Investment Strategy is guided by the client’s strategic Financial Plan, cash needs, capital usage and risk tolerance. We believe success is assured when the Investment Strategy is customized to the family’s values and needs, is robust and disciplined, and free from potential bias. Accountability can only be achieved when results are viewed on a consolidated basis and measured against appropriate, independent benchmarks. Costs are reduced and potential returns enhanced by access to investment options not available in the “retail” environment.
Global Investment Management services:
- Investment Education
- Global & Customized, Risk Adjusted Strategic Asset Allocation
- Global & Customized Portfolio Design and Tax Management
- Portfolio Risk Sensitivity Analysis
- Documented Investment Policy Statement
- Manager Due Diligence
- Portfolio Implementation & Administration
- Customized & Consolidated Internal Rate of Return and/or Time Weighted Rate of Return Performance Reporting
- Market and Portfolio Analysis
- Regular meetings & Ongoing Communications
Family Lifestyle Management
A fundamental platform upon which your Family Prosperity Plan™ is built, involves reducing the burdens of day to day financial administration to ensure your family stays on track and focused on success. Our team works in conjunction with your family to support all levels of day-to-day wealth administration with an aim to facilitate time for you and your family to pursue other activities that truly matter to you.
Family Lifestyle Management services:
- Cash Flow Management, Bill Payments, Budgeting
- Accounting and Bookkeeping
- Co-ordination of Foreign Exchange and International Banking
- Record Keeping and Pertinent Document On-Line Secure Storage
- Real Estate Property Management
- Tax Preparation, Administration and Compliance
- Corporate and Trust Administration
- Medical Services Facilitation
- Travel Planning
- Mail Collection
- Home Office Management
- Liaison with Investment Institutions
- Family Office Value Reporting
Risk Management
First Affiliated offers our clients an unbiased assessment of their potential risks and wealth preservation needs. A proactive approach is used to deal with those risks in a cost and tax effective manner.
Risk Management services:
- Unbiased Insurance Needs Analysis: life, disability, health, home, travel, auto, business
- Policy Analysis and Due Diligence
- Asset Protection / Creditor Proofing
- Fiduciary Management
- Investment Strategy Mapping to Preservation of Required Capital Pools
- Advisor Due Diligence
- Financial Product Due Diligence
- Strategic Oversight and Quality Control of Advisor Recommendations
Family Philanthropy
A time comes in the development of your Family Prosperity Plan™ where philanthropy becomes the ultimate expression of financial freedom. The Family has achieved financial order and security, and is interested in expanding their legacy to the larger community. Strategic philanthropic planning is undertaken to ensure that your family’s gifts reflect your values, objectives and desires for change. Active involvement is encouraged to bring deeper meaning to the giving, to provide a platform for involving the younger generation in decision-making and to provide accountability for results. The First Affiliated Foundation provides a convenient, reduced cost, donor-directed platform for current and future (endowment) charitable giving.
Family Philanthropy services:
- Explore and Identify Family Philanthropic Values, Mission and Aspirations
- Financial Modeling to Determine Appropriate Funding Levels and Timing of Gifts
- Tax Analysis for Gifting Levels
- Creation of Strategic Family Philanthropic Plan
- Research and Establish Appropriate Funding Structures
- Foundation Management and Administration
- Charity Due Diligence
- Gift Performance Reporting
Strategic Wealth Succession
Succession for business owners and wealth creators involves strategic planning for the continued growth, development and potential transfer of the business or wealth to future generations. The realization of your Family Prosperity Plan™ depends upon a family unified in it’s values, mission and aspirations for both its financial and human resources. First Affiliated supports the creation of a Family Counsel to nurture financial literacy, leadership, entrepreneurialism and conflict resolution in the younger generation. From a foundation of stewardship, a truly robust family legacy can be created.
Strategic Wealth Succession services:
- Explore and Identify Multi-Generational Family Values, Mission and Aspirations
- Develop and Facilitate Family Counsel (where appropriate)
- Educate and Inspire through First Affiliated Academy, Newsletters, Workshops and Seminars
- Foster Financial Literacy through Financial Planning with Younger Family Members
- Model Stewardship through Youth Philanthropy
- Develop Strategic Legacy Succession Plan
- Plan Implementation & Monitoring
- Measurement and Celebration of Family Success