What is a Family Office?

A family office provides customized day-to-day management and administration of a family’s financial affairs. Just as no two families are the same, their needs are not the same. Service offerings often include investment, fiduciary, trust and estate management or oversight, tax compliance and planning, administrative services like bill payment and budgeting, management of philanthropic efforts, concierge services, and educating the next generation on the family’s wealth and legacy.

We utilize our in-house expertise and leverage our network of professionals to ensure that a family’s financial well-being is supported in an efficient and effective manner.

WHO WE SERVE

• High net worth individuals and families (typically between $10 million and $500 million net worth)
• Successful entrepreneurs whose time is better spent doing other things
• Those who have been provided these services by a trusted employee who is retiring soon

HOW WE CHARGE

Many providers of family office services charge based on the client’s net worth. At Geffen Mesher, we believe it is more reasonable to charge our family office clients a monthly flat fee for agreed-upon services, typically in the $1,000-$5,000 range, tailored to meet the family’s specific needs.

THE FOUR T’S

1. Tact, Timing, and Transparency

We build our services in order to produce the exact fit for which you’re searching, and we do so in a way that remains objective, time-sensitive, and open. Just as tailors work with the delicacy of fabric in order to create the final form, we remain responsive and respectful to the relationship between family members and their unique needs.

• Remaining respectful of the family dynamic
• Knowing our role (never overstepping boundaries)
• Being available to individual family members
• Being mindful of the delicacy of interfamily relationships
• Providing fast and accurate response to sudden needs, emergencies, etc.

2. Traditional Services, Modern Needs

Our family office team approaches our work in a way that is both systematic and personable. As any custom approach is built on creating something unique, we provide solutions that address your exact needs and wishes in the moment and that change with you and the members of your family.

• Mail processing
• Bill payment
• Cash management
• Household payroll and reporting
• Track company stock and stock options
• Document and records management
• Medical insurance claims
• Monitor charitable contributions
• Track and analyze family assets (including collectibles)

3. Tax and Accounting Support

In working with our family office group, you’ll also benefit from having a team of experienced tax planning professionals at your service as needed. Therefore, when the conversation moves beyond family office needs and extends into taxation, we’re ready to go there with you whether you’re working with our tax experts or others.

• Preparation of personal financial reports and statements
• Analysis and reporting
• Bookkeeping and accounting
• Monitor tax basis and fair market valuations

4. Trusted Advisor, Liaison, and Partner

With change comes new opportunities for families like yours. Working closely with you, we are prepared to take and lead important conversations when you need us to do so.

• Coordinate with an investment management team to track investments and manage tax efficiency
• Coordinate with legal counsel to establish and maintain charitable trusts and private foundations, including estate tax planning and compliance
• Strategic planning, goal setting, and leading/coordinating special projects