As a Registered Investment Adviser (RIA), the firm provides sophisticated and meaningful solutions to help families of exceptional wealth preserve and grow their financial capital as well as their human, social and intellectual family capital. The solutions are designed to help clients structure their financial situation and plan for the successful transfer of wealth to the next generation.
At Legacy Family Office, our approach is defined by a stringent set of ethical principles and on a culture of SERVICE. Legacy Family Office client families enjoy a caring, personal relationship with the Family Office Executive and Founder. In addition, clients have direct access to the Family Office Coordinator who is the point of contact for information, requests and guidance.
Each family goes through a comprehensive wealth diagnostic process and a customized Client Service Plan is thoughtfully constructed annually. The plan implementation is monitored and overseen personally by the Family Office Executive and may include hand-selected strategic partners such as attorneys, accountants, asset managers, insurance professionals and financial planners, as appropriate.
Tamara Surratt, president and CEO of Legacy Family Office, will be a featured speaker at the Opal Family Office & Private WealthRead More
The loss of a spouse can be a devastating, life-changing event. For women, losing a spouse can happen surprisingly early. According to theRead More
Tamara Surratt, president and CEO of Legacy Family Office, will be a featured speaker at the Private Wealth Management Summit in PalmRead More
MFOs are structured to offer integrated, interdisciplinary services to ultra-high net worth individuals and families. MFOs have historically provided customized service levels and confidentiality not available from larger product-driven financial institutions.
The family office represents a center of influence and stability to help families with exceptional wealth ensure the preservation and growth of their financial assets and family heritage. In general, an MFO aggregates and focuses resources to facilitate a common interest in asset protection, cost control, financial education, family philanthropy and a host of other needs.
Investment Advisory Firms, Integrated Wealth Advisory Firms, and Multi-Family Offices are the three types of Financial Advisors that provide a complexity of services. Click below to view a graph of the services each type provides.
MFOs tend to have the following characteristics:
MFOs typically do not sell (traditional products that a family might typically encounter from a brokerage firm) and generally are not compensated for the products utilized by clients. MFOs usually follow a “service delivery model” holding themselves out as an objective provider of advice that places the interests of their clients first.
Breadth and Integration of Services
MFOs provide a wide array of services and typically oversee their clients’ entire financial universe. MFOs will have full information about their clients’ investments, tax situation, estate plan and family dynamics. With this information the MFO can assist in structuring and administering the clients’ financial universe in an optimal fashion.
Professionals with Diverse Skills and Deep Specialties
MFO professionals provide a wide array of advice and assistance to their clients. MFOs also have to be able to provide specialty knowledge on certain topics such as: income taxation, estate planning, and investments.
High Touch Screens
MFOs have high average account sizes and low client to employee ratios. Large account sizes combined with low client-to-employee ratios allows a great deal of focus and attention on each client family. Meetings with clients often occur many times a year.
MFOs typically work with an entire family – the patriarch/matriarch, their children and grandchildren. Planning encompasses the family’s goals which typically include passing wealth down to lower generations in a tax efficient manner. Children and grandchildren are clients and are counseled on investments, taxes, estate planning, and philanthropy from an early age. MFOs often coordinate and moderate family meetings for their client families.
MFOs do not typically provide all services in-house. It is common for some of the investment management to be outsourced to independent money managers. Custody and tax return preparation are also commonly outsourced.
Focus on Taxable Investor
Most MFOs have a myopic focus on taxable investors as the bulk of their client’s assets are subject to short and long term capital gains. This is unique to very high net worth families. Most investment research (academic and financial service industry) is geared toward the institutional investor and foundations (with very different tax concerns than individuals and families).
MFOs may have one or more of the following benefits:
1 Family Office Exchange, 2009. What is a Multi-Family Office (MFO)?
2 Wikipedia, 2009. Multi-family office.
We strive to make your life easier, both on a daily basis and particularly at a time of crisis. Your Legacy Wealth Connection (personal digital wealth management portal) provides a consolidated view of everything you own and everything you owe, updated daily.
All of your digital financial information is secure and protected, and is available to you wherever you are and on any device you choose. Interactive charts, detailed summaries and an extensive library of videos, articles and other resources are available to increase your financial knowledge.
The family is a dynamic entity composed of individuals with varying interests, abilities, needs and goals. Working with Legacy Family Office LLC, the family can remain cohesive through a framework that is designed to educate, encourage, empower and facilitate communication and understanding. By remaining focused on a clear financial mission, the family increases the likelihood of achieving financial success, both now and in the future. By building the four capital accounts3, – Human, Intellectual, Financial and Social capital – we endeavor to help develop the true wealth of the family.
Legacy Family Office LLC will help:
Human Capital Development:
Intellectual Capital Development:
Financial Capital Development:
Social Capital Development:
3 Lee Hausner and Douglas K. Freeman, 2009. The Legacy Family: The Definitive Guide to Creating a Successful Multigenerational Family.
Estate planning is a dynamic process. It involves not only you and your spouse but your family, other individuals and, in some cases, charitable organizations which you designate.
It also involves your assets (bank accounts, investments, real estate and personal property) and the various forms of ownership and title that those assets may take. Keep in mind that these decisions can have significant tax benefits and consequences for your beneficiaries and should be carefully coordinated.
Legacy Family Office LLC will provide:
Financial planning is the process of establishing personal and financial goals and creating a way to reach them. The ongoing process involves developing a plan and systematically implementing the plan in order to achieve your goals. The plan must be monitored and reviewed periodically so adjustments can be made, if necessary.
Legacy Family Office LLC will provide:
Legacy Family Office delivers the following services for client families:
Managing your personal and financial affairs can quickly become complicated. Let Legacy Family Office help simplify your life by administering your day-to-day household operations.
Risk management ensures that your goals will be met and your family will remain financially secure in the face of a life-changing event. Legacy Family Office will work with you to identify your potential insurance needs, continuously review your coverage and advise you of the adequacy of your protection. Since we coordinate all of your financial affairs, we can proactively offer suggestions to adjust your insurance coverage when your circumstances change.
Legacy Family Office LLC will provide:
Many affluent families believe that every individual has a responsibility not only to their families, but also to the community at large. The family’s response to this may include a Philanthropic Strategy.
Legacy Family Office, LLC helps affluent families:
Legacy Family Office, LLC
23160 Fashion Drive, Suite 227
Estero, Florida 33928