Family Wealth

  • Developing a strong business family – There’s already a lot to do in raising a family and maintaining
    the family from diapers to education, and education to starting out.  Along the way you have sports,
    social activities, religion, life changes, and more.  What most Parents forget, or maybe they run out of
    time, is to plan for the long-term financial success necessary for the next generation. It is prudent to
    design a plan in today’s complex world of Estate Tax, Investment management, and Technology.
  • Preparing to pass the baton – It isn’t just enough to provide for the family and build a successful
    business.  In the end you must capture the value you created by doing all you can not to lose the
    business value to undue taxes, excessive estate settlement fees, and worst of all family squabble.
  • Beyond advisory services – Unfortunately most advisory services fall well short of helping business
    owners.  Their services are typically designed for employed individuals who’s needs are less complex.
    Most advice is centered around investments and insurance.  As a business owner you need advice in
    three main areas: Business Development, Financial Alternatives, and Technology.  Today technology is
    the hub for managing, maintaining, and developing business and financial alternatives.  How you
    address the cost and performance of your systems and services is extremely important, for safety as well
    as success.
  • Managing Family Assets – Family assets become very complicated.  Some successful business
    ownership families operate under a Family Limited Partnership (FLP) or complex corporate structure in
    order to maintain control of taxes and estate issues.  Not all family members want to participate in the
    business but their ownership must still be properly maintained and accounted for.  Setting up a good
    methodology and leadership design requires time, effort, knowledge, and some skill.
  • Assessing Alternative Strategies – Business owners often have business investment needs beyond
    banking and investment accounts.  The more successful a family becomes, the more likely the need for
    alternatives will arise.  You may feel like investing in other small businesses, inventions, or other
    opportunities not listed on stock exchanges or covered by normal banking.  In these situations a good
    assessment from an experienced Consultant can be of great value!
  • Developing Business – As families grow and the next generation begins to engage in the productive
    working part of life, business development is essential.  Children often do not wish to be in the same
    business as their parents.  A good solution to this problem has been to add other lines of business which
    the next generation has more interest in.  Some families opt into franchise operations, or if the kids
    become high producing executives or professionals the family can allow space for their operations within
    the business structure, if they choose.  Again, this can raise complex issues requiring the skills of experts
    in various fields.
  • How Ecspex can help – We are dedicated to the full breadth and depth of our clients and their family’s
    needs.  It is our goal to help build success through the direction of multiple services, platforms, and
    professional team members.  First we understand your needs and goals, then we find the right mix of
    experts and services to put your plan of success in place.

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