A comprehensive service for successful Australian families
We can simplify your complex financial affairs, we are there in case something should ever happen to you ... and we may even help you to sleep at night! Many people are now familiar with the concept of a Family Office, where an outside service provider coordinates investments, retirement, estate planning, trustee services, accounting and taxation and even bill paying on behalf of client families. However, this service often falls short of the needs of many families.
For some, the overall structure of business, investment and family entities, inter-relationships and dependencies has become too complex. Many advisors know a piece of the puzzle, but not the whole picture. The risk of a mismatch, an oversight or a mistake is very real and the responsibility remains with the client. Few clients have the time, skill or understanding to know what really needs to be done.
Others know their affairs are complex, but generally under control. However, sickness, accident and the passage of time can ultimately see control slip away and the responsibility will fall to others who are not equipped to understand or manage the structure. Moreover, not many advisors really understand the interplay between the family business, taxation and wealth on one hand ... and children, matrimony, inheritance and transition on the other.
Your Family CFO team pulls together the fragmented financial components of an otherwise complex family. They present a simplified picture but always focus on the long term agendas for risk, security, change and transition. They listen, they explain and they provide comfort and control so that you can sleep well at night. Our clients agree that the service is more involved than simply Family Office. It is peace of mind. It is everything they need in financial management. It really is a Financial Wife.
Understanding the family
All new clients commence their engagement with Fordham with a Family Plan. It usually requires the husband and wife to sit down with us to understand their respective views about money, work, lifestyle, children and the future.
It is a fun and often revealing process that helps define the future strategy for the family ... independently to the business and investment strategy which often already exist.
Knowing the big picture helps us interpret the physical and financial structures around the family. What works, what is redundant, what is needed. Is it tax effective and does it provide effective asset protection? How do multigenerational current and future matrimonial overlays impact? Does the current estate planning undo the effectiveness of the structure or could it present new tax problems? What are the risks should the unexpected happen?
Recommend and implement
We manage change. We ensure that all third parties understand their role and monitor their performance. We will monitor the tasks to be undertaken by the client ... after all, the best plans are only as good as their implemenation.
Inform and manage
We are there, now and into the future. As part of Perpetual Trustees, we have looked after families for over 120 years. Perpetual are known as one of Australia’s leading fiduciary, philanthropy and investment companies to successful Australian families.