Managing significant wealth is complicated. You may feel your wealth is a burden and that you don’t have the knowledge or framework to ensure you are making the best decisions for your family.
You might think the answer is to start your own family office. However, it is generally accepted that you need a net worth of $100 million or more to consider establishing a traditional family office to cover the expected running costs of between $1 million and $2 million per annum. What if you have significant wealth but not enough to afford a traditional family office? Starting a virtual family office could be the answer.
A virtual family office allows you to have much of the benefits of traditional family office, without the resulting costs. Our solutions are bespoke and personalised to your needs. We help you define your governance structure and process, and then coordinate your team of professionals to ensure you have a collaborative and seamless approach to managing your wealth. We can introduce unique investment solutions and make sure you have the right advisers at the table to support you.
1. Personalised: You are our focus. We build long term relationships with only a small number of clients. We know you well and have your interests top of mind. Our solutions are bespoke to you and your wealth, there are no cookie cutter answers.
2. Collaborative: We believe in the benefits of being inclusive and working closely and collaboratively with all your advisers, so you have a cohesive approach to your wealth. There are no silos or fiefdoms. We ensure you have the right people in the room, and everyone works together to help you achieve your goals.
3. Cost effective: Virtual family offices are cost effective for families with a net worth of $20 million or more. Depending on your need and the complexity of your wealth, running a virtual family office costs a fraction of a traditional family office.
4. Independent: We are fiercely independent to make sure your best interests are always top of mind. We are self-licenced directly with ASIC and independently owned by Shelley Marsh our founder. We do not receive any commissions from product providers or payments from other advisers. We are flat fee and only get paid by you. We minimise conflicts wherever possible to ensure that your interests are our central focus.
Family wealth is complicated and it’s not all plain sailing. Having the services of a virtual family office like Wealth Differently on your side will help release the burden, give you clarity around your decision making and free you to enjoy your wealth. If you would like to know more about creating your own virtual family office, please contact us here.
Kind regards,
Shelley Marsh
Outsourced Chief Investment Officer (OCIO) & Founder
Wealth Differently
General Advice Warning: This information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. It does not represent and is not intended to be personal advice. Because of this, you should consider whether the information is appropriate in light of your particular objectives, financial situation and needs. We strongly suggest that you seek professional financial advice before acting.
Wealth Differently Pty Ltd AFSL 547820.
