More Family – Less Office
- Clariata
- Sep 4, 2024
- 3 min read
Updated: Feb 14
Searches for Family Office ‘Must-Haves’ produces a long list of transactional and tactical activities. In its simplest form, it’s an organization of experts that give consistent advice across all disciplines based on your family’s (and maybe also your corporation’s) goals.
Getting a family office up and running typically involves various, time-consuming options like:
First, advisors spend significant time establishing a deep understanding of the personal and family values, personal and family goals, plus relevant corporate goals. They then work to fully uncover and define the opportunities and frustrations the family is facing.
Next, a team of professionals is assembled to help the family address their needs and opportunities.
Then, contractual and fiduciary agreements and strategies are put in place that enable the team to act on behalf of the family’s best interests.
Finally, an entire collection of tactical activities begin taking place – reporting, governing document creation and storage, investment strategies, tax overlay oversight, cash flow management, asset protection, and so on… All with the purpose of “securing the cash flow and capital [necessary] to achieve the financial objective of the current family members.” (From IP Private Wealth’s Checklist: 10 Things A Family Office Should Include)
This is a lot of OFFICE activity and very little FAMILY activity.
All this leaves us wondering…what’s happened to the FAMILY in the family office environment?
Why is so much time being spent dragging families through this time-consuming process of discovering their goals and needs when most families don’t know what these are or how to express them?
They struggle to communicate with each other and their advisors.
They also often have deep concerns and fears they are afraid to express.
Add to all this the fact that emotional and relational concerns are areas most financial or legal professionals are not equipped to handle and what do you have?
A BIG MESS.
This HUGE gap in the skill set most advisors have when it comes to these ‘softer,’ more emotional areas gets magnified as assets grow. Instead of the family office bringing unity and peace to the family, it often makes matters worse.
That’s why we created Clariata Wealth Activation™ Services for Family Offices.
Clariata is the only complete solution that instantly fills in this emotional intelligence gap – allowing any advisor to move from an information provider to a highly engaged, trusted partner.
The technology, tools, and tactics bundled in Clariata allow its users to gain 30 years of family management and legacy planning skills in as little as 30 days.
More importantly, Clariata’s proven methods help families create connection, peace, and unity. It makes each family member feel seen, heard, and understood – building deep trust – a key to driving loyalty and action.
Learn more about why HNW and UHNW clients prefer and recommend Clariata over all other solutions here.
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Want to know more about how Clariata can help you focus more on the family and less on the logistics?