Unlocking Investment Success: Benefits Of Hiring a Financial Advisor Dedicated To Family Office

Welcome to another piece in which we explore the topics that interest the international businessperson. Of all these topics, investments are some of the most complicated, both to understand and put into action. 

This is where we see the benefits of a financial advisor. They can be truly lifesavers as they can provide valuable insights, give advice on the most suitable vehicles, and assess results. Yet there's a service that goes beyond financial advising, and this is what we want to introduce you to today. When we mention words like family office, financial advisor, and so on, it’s important to comprehend what each means and how they can help.

Benefits Of a Financial Advisor

The benefits of hiring a financial advisor are many because the individual or the family will have an expert to help them pinpoint the best investment opportunities. Besides, they will manage, monitor, and change them if necessary.

They can do what otherwise may be a burden to you. A good financial advisor will relieve you of conducting research, studying the market's behavior, and following up with your investment results every day. Moreover, one of the benefits of hiring a financial advisor is that they know how different vehicles work.

Now, what happens when your family has a large structure of assets, brokerage accounts, companies, valuables, and so on? This is when a family office financial advisor can be the right answer.

Why Choose a Family Office Financial Advisor

Financial Advisor Vs Family Office

The first thing we need to understand is that these are not opposite concepts. Financial advising is the core of family office, but here the service is amplified to provide broader solutions.

What Is a Family Office 

A family office service is a 360° approach that will accompany you every step of the way. From mapping the family's assets to opening accounts and gearing specially tailored strategies, a family office financial advisor truly takes care of the family's wealth. Thus, it helps it grow safely and according to the family's goals.

Luckily, Mundo has connected with a family office financial advisor company that has been registered in the Republic of Panama since 2007. Being former bankers with plenty of expertise, their company is fully regulated and duly licensed to give the clients best-in-class services. 

Among the benefits of hiring a financial advisor, efficiency is key. At the end of the day, you want results, someone who can do the heavy lifting while you focus on your core business only. This is exactly what you'll get with Mundo’s family office financial advisor services.

Family Office: The origins

Family office dates back to the late 19th century. Names like Rockefeller enter the picture as, at the time, he was one of the wealthiest men in the United States. He owned different companies and was part of investment pools, actually, he was one of the owners of America's first billion-dollar company. 

Nevertheless, his affairs were a mess. He was isolated and, prone to charity as he was, he felt that everyone approached him only to obtain something from him or to propose a business. If managing wealth is difficult now with all the tools available, it was even worse in the turn of the 20th century, when travelling was both dangerous and expensive. 

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At the time, Rockefeller asked for the help of Frederick Gates, a Baptist minister. Gates was the forerunner of family offices, and he did great work. Back then, it wasn't about sitting by the computer but traveling across the country to Rockefeller's properties. He discovered from phantom mines to real estate scams with a dedication that can be compared to a detective's. It was a thorough task of revising documents, verifying records, interviewing people, and getting to know the workers. 

As a result, Gates ended up working at Rockefeller's main office in New York City. He managed to divest assets, reinvest, and find advantageous opportunities. In simple words, he restructured the tycoon’s fortune and helped it grow.

Benefits Of Hiring A Financial Advisor Specialized in Family Office With Mundo

Asset Mapping

Very much like Gates but with modern tools, our partners will analyze exactly what type of assets you have, where they are, and what their worth is. Families with large wealth may not be aware of everything they own or how it is structured. Thus, the benefits of a financial advisor include the possibility of understanding the state of things so that they can make the best plans and decisions.

Access To Exclusive Banking

Some banks won’t even open the doors for you if you're not an HNWI, and this is a pity because they are among the most reliable institutions in the world. This family office financial advisor company is constituted by former bankers who have the right connections. They can open personal or brokerage accounts in top-tier banks and take care of the pre-approval process for you.

Structure And Implementation

When the family's goals are decided, the expert designs a tailor-made strategy. Working with internal and external specialists, they implement trust and foundations, open bank accounts, and design succession planning structures. They use different jurisdictions to enhance the structure and leverage the advantages of each. 

Benefits Of a Financial Advisor Through Family Office: Your Interest Comes First

When assessing the drawbacks or benefits of a financial advisor, it's important to understand if they are independent. Mundo's family office partners don't work for specific banks or investment vehicles: they work for their clients. There is no conflict of interest because they are not linked with any investment company or plan. Therefore, they can recommend what truly works for the family in particular, along with the safest and most effective alternatives. 

Another advantage is that they don't use omnibus accounts, which can lead to asset loss and misuse. Through this family office financial advisor service, all your accounts will be under your own name.

Disclaimer: this article provides a general description of the family office services; however, the information may not be 100% accurate or complete. Accurate and updated information will be provided only through formal consultations. This article doesn't constitute financial or investment advice.

Financial Advisor Vs Family Office: One Same Strategy Enhanced

While a financial advisor is a professional who helps you with your investments, a family office offers exactly that, but takes it to higher levels. A family office service is about assessing your current situation, providing stellar solutions, combining a variety of factors, managing your operations, and giving you access to HNWI tools.

If you understand the benefits of hiring a financial advisor dedicated to family office, contact us, and we'll be happy to support you. 

Mundo is a publication focused on international business topics, and we are in contact with a variety of advisors, agents, lawyers, and experts across different jurisdictions and encompassing a variety of services. We invite you to browse around the website and read about what we can offer, then contact us, and we'll discuss your service of interest. 

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