Family Office Services

Our clients understand that we manage their money like it was our own and that we care for them like they were members of our family.

We understand that our client’s wealth is a composite of the total value they have created in the course of their lives through their business, family, community, spiritual connections and interactions.

Managing the total wealth and well-being of a client family, made up of multiple generations, is the job of our Family Office Services team.

Family Office Services are available to families with investment portfolios in excess of $15,000,000.

Family Members

Since our first day in 1998 we have viewed our clients as family members. That may be because so many of them had already been clients for many years at Paul’s predecessor practice. Much of that core clientele is still with us to this day.

We also understand that our client's wealth is a composite of the total value they have created in the course of their lives through their business, family, community and spiritual connections and interactions.

Managing the total wealth and well-being of a client family is the job of our Family Office Services team, our wealth management team and other key family advisors such as estate planning attorneys, CPA’s, real estate and insurance professionals.

5T Wealth, LLC has acted as the leader of such teams for current Family Office Clients.


SERVICES THAT OUR TEAMS HAVE PROVIDED TO CLIENTS INCLUDE:

  • Coordination and management of relations with all other professional advisors including attorneys, accountants, insurance agents, realtors and bankers.
     
  • Long term strategic financial and tax planning that includes periodic reviews and updates in order to measure progress and amend planning as life circumstances change. We do this planning independently, or depending on the client’s needs and direction, will team up with their accountant.
     
  • Estate planning that includes considerations for multiple generations to ensure that the accumulated wealth is kept in the family. 5T Wealth, LLC acts as a second set of eyes in working with experienced insurance specialists on behalf of clients, helping identify optimal risk and estate tax management strategies. Our clients sometimes have their own attorneys, but often accept the recommendation of 5T Wealth, LLC when it comes to selecting the best estate planning attorneys. We work as a team with the attorneys we select. The attorneys draft the estate plans. Once in place the estate plans are periodically reviewed by a team of family advisors that includes the estate planning attorneys, CPA’s and 5T Wealth, LLC. Plans are updated as life changes require.
     
  • Business valuation and succession planning, reviewing or implementing buy-sell agreements and key-person life policies. 5T Wealth, LLC recruits the best advisors and insurance professionals to work with in implementing these strategies.
  • Family Governance systems design, implementation and annual facilitation.
     
  • Insurance and risk management planning including property and casualty, life, health, disability, long term care, and umbrella liability. 5T Wealth, LLC does not sell insurance. We work for our client in establishing suitable amounts of insurance in these various areas and then bid out and negotiate for the best contracts for our clients. We also periodically review all coverage and premiums.
     
  • We have assisted in the creation and monitoring of family partnerships. Skilled attorneys create the partnerships. We work with the family members to make sure the partnerships work well and meet their goals.
     
  • 5T Wealth, LLC has provided direct trustee services to clients. We have also acted as advisors in the selection, oversight and monitoring of outside trustees.
     
  • We have provided guidance related to direct charitable giving or establishment of charitable trusts. If a family is interested in establishing a charitable trust or foundation 5T Wealth, LLC will assist in identifying attorneys and CPAs providing helpful advice without sharing fees or compensation.
     
  • Counseling on selection of private placement investment vehicles including real estate, private equity, venture capital, and purchasing businesses.
     
  • Investment portfolios are customized with the goal to meet each family’s unique risk, return and tax preferences using 5T Wealth, LLC's strategies and models.
  • Monthly progress reporting and quarterly investment performance reviews are provided designed to track investment progress relative to the client’s goals.
     
  • Bill paying and accounting services, including all check writing, credit and debit card management, preparation and delivery of a monthly general ledger, cash flow statement and a comprehensive balance sheet for all accounts and asset classes representing your total assets, liabilities and net worth.
     
  • Compilation of required data for annual tax preparation for personal, business, or private foundation accounts. Preparation of personal returns can be done internally and then sent to your trusted accountant for finalization and review as required.
     
  • Management of all legal, financial, tax, and personal documents in secure client accessible files and vault.
     
  • Private and mortgage banking coordinated with local or national banks.
     
  • Assistance in property management including appraisals, surveys, well testing and maintenance, engineered sewer testing and maintenance, landscaping, remodeling, market analysis, hiring of realtors, and negotiating real property sales.
     
  • Assisting and counseling the family through times of stress related to litigation.
     
  • Hiring domestic help and caretakers, including employment agreements, salary negotiation, and benefit structures.
     
  • Finding lost assets.

5T Wealth, LLC accepts no outside compensation or referral fees from any professionals or service providers we might engage to facilitate completion of these services for our clients. We are paid directly for our time by our clients. Our schedule of fees is available on request.