For high net worth (wealth in the range of $10m to $30M) and ultra-high net worth (wealth exceeding $30M) clients, we provide a boutique service in which we act as “overseer of the advisors” or “manager of the managers”. It has been our experience that clients with significant diversified investments, managed through several managers and professional advisors, often have overall financial lives or portfolios that suffer through a lack of oversight and co-ordination, and a preponderance of compartmentalization. They are most often very busy individuals with demanding professional and personal lives that make it difficult to devote the time necessary to manage a large, diverse and complex portfolio, or to gain the knowledge and experience to manage their portfolios.

High net worth investors should have a mix of private equity, hedge funds, real estate, and managed futures along with stocks, bonds and specialist mutual funds and exchange-traded funds. However, this almost always involves having separate managers (since these asset classes require different expertise) and these managers often act without regard to the overall tax or estate planning imperatives, or without knowledge, often intentionally, of the investment strategies and decisions of other managers. They also have a habit of “going off script” without the client understanding the risk of their actions, and introducing tracking errors, in that they act to impress instead of accepting that they are being measured against a goal being set for them rather than the performance of other managers. Additionally, their financial investments are only part of their overall wealth, and they need and seek other advice in relation to non-financial assets and decision-making.

As lead advisor, we –

  • Work directly with and for the client
  • Co-ordinate the functions of all professional advisors, tax accountants, estate planning attorneys, banks and money managers
  • Prepare financial plans, budgets, income and expenditure, and balance sheet statements
  • Provide input to the estate planning process and review estate plans
  • Develop financial plans and investment strategies
  • Review investment decisions and performance of investment managers, establishing benchmarks and setting limits on investment choices, account exposure and triggered capital gains
  • Allocate accumulated capital losses against which capital gains can be offset
  • Work with tax accountants to determine likely impact of investment strategy on tax liabilities and to structure investments to be tax efficient
  • Provide the client with general financial advice relating to investment and expenditure decisions being contemplated by the client
  • Prepare analysis and reports to enable client to make financial decisions and to understand the performance of the investment managers.