While most financial institutions provide expertise around money matters, few can provide the completely personal services of a family office.
While most financial institutions provide expertise around money matters, few can provide the completely personal services of a family office—much less help someone with a longing for a llama.
Whether it helps clients navigate a career change, mitigate family quarrels or negotiate a lease for a new business, a family office does far more than just pay the bills.The Multifunctional Family Office “We take a holistic approach to your entire life,” said McCarthy. “We look at your financial balance sheet, your assets and your liabilities, but we get more involved with your life balance sheet. We talk about priceless things that matter to you—like your spouse, your kids, your grandkids, educating your kids and grandkids, your reputation and your health.”
Those goals can include things like legacy planning or teaching your kids to be good stewards of wealth.The history of Whittier Trust and its experience with more than 440 high-net-worth families informs the advisors as they deliver customized services. While multigenerational families are among its clients, Whittier also works with individuals and couples to handle the day-to-day minutia of owning real estate or any task they prefer to outsource.
Advisors, for instance, can look at the numbers to help someone decide if they should lease or buy a car, give them advice on business succession or discuss family governance.The holistic approach that family offices take helps clients not only build wealth—but also identify ways to spend less or generate income that contributes to the family’s success.
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