FAMILY OFFICE BENEFITS
A "Virtual" Family Office committed to helping everyone assume the responsibility to be better educated, better communicate, work together and collaborate in meeting the challenge of experiencing affluence, well-being; and, leaving a legacy of ‘give’n grow’ for future generations.
While few people can justify the expense of having a family-office, there are lessons everyone can learn from ‘wealthy families’. First, the core-concept of ‘family first’ is the hallmark symbol that there is no one responsible for you or your family affairs but you. Second, is the NxGen Wealth belief that wealth is more than just money. Your ‘total wealth’ includes a sense of Well Being that comes from relationships and a healthy body, mind and spirit; and, sufficient financial resources for your needs.
Family Office Benefits
A good family office thinks & plans beyond the present for the family, its investments and future generations. An authentic ‘family office’ experience is knowing that professionals are working exclusively for the family interests & not for another provider that compensates them to sell product, advice or services. The family members are secure in knowing they are getting the best from ‘family office’ staff who are transparent and accountable. A staff devoted to staging a quality-experience in terms of a ‘total’ wealth management experience including: investments, tax-legal counsel, family governance-relationships; and today, reputation and online-digital asset management including estate planning of online assets & social media policies for family members.
The NxGen Family Office
A "Virtual" Online-Mobile eFamily Office
Family Office Overview
The Family Office dates back to Roman times and here in the U.S. John D. Rockefeller’s being the most famous. While there is not a precise definition of services a family office provides, the stated money or assets a person needs to start one ranges between $100 million and closer to $1 billion for it to be worth the associated costs.
They don’t have to be purely financial in focus but can operate as a premium concierge service including vacation bookings to far-flung locales or even scheduling grooming appointments for the dog.
Ranging from simple (a single accountant) to complex (investments, auditing, legal services, tax preparation, compliance & concierge) services under ‘one roof’, the family and the family-business are the primary concerns.
The set-up costs of a family office are expensive. Estimates of annual costs are from $400,000 to a $100 million...depending upon ‘assets under management’ and associated overhead expense.
They don’t have to be purely financial in focus but can operate as a premium concierge service including vacation bookings to far-flung locales or even scheduling grooming appointments for the dog.
Ranging from simple (a single accountant) to complex (investments, auditing, legal services, tax preparation, compliance & concierge) services under ‘one roof’, the family and the family-business are the primary concerns.
The set-up costs of a family office are expensive. Estimates of annual costs are from $400,000 to a $100 million...depending upon ‘assets under management’ and associated overhead expense.
Uniquess of NxGen eFamily Office
Recent studies by U.S. Trust and Deloitte show that "Managing digital assets is now an essential part of the modern wealth management and planning”...and that..."Loss of 'Reputation' is the #1 Strategic Risk". Further, research from the ongoing Futurewealth Project undertaken by the research firm, Scorpio Partnership, & Standard Chartered Private Bank reveal that “the world's wealthy appreciate the value of innovation in wealth management and are users of the latest technology. They may be more likely to take technological risks and are quick to adopt today's leading edge digital tools”.
A Wealth Builder Tool For
Individuals, Families, Business Owners & Professional Advisors
For professional advisors The NxGen eFamily Office is a state-of-the-art business builder. Accordingly, Greg Johnson, a NxGen Wealth Advisor and Founder of NxGen Family Office states: “Given today's "Mobile Revolution", and social media giving rise to the concepts of "social-influence", monetization and "reputation capital", it is imperative for anyone in business to integrate mobile and social solutions into their marketing strategies and reputation-risk management. An effective mobile-social strategy is more engaging and less costly than traditional marketing methods; and, a well crafted system works 24/7!”
