In many affluent families, one member of the family is often responsible for managing the money and investments. As they age, they gradually become concerned about how long they will be able to maintain this degree of guardianship and what would happen if they pre-decease their spouse.

If this sounds like you, read on…

About the Family

The father had been managing the family’s wealth of approximately $10 million for over two decades. Although he had done this well, there were investment options such as real estate and private debt that he could not access as an individual investor, and he was growing concerned about who would manage the wealth as he aged or if something happened to him. Other members of the family were also becoming worried about their father’s age and the reality that nobody else in the family knew how to effectively manage the wealth.

If he became ill, would the rest of the family be prepared to take the reins? Is he able to pass on the knowledge and responsibility of managing the family’s wealth in a planned manner? Is there a succession plan in place to ensure the transition of assets will be handled according to the family’s desires when the time comes?

These apprehensions prompted the father to search for a wealth management firm able to provide the same fiduciary responsibility and level of care that he would for his family over the long term.

 

HighView’s founding principles, processes, and transparency gave the father confidence that HighView was the right wealth management firm to entrust with his family’s wealth.”

Searching for a Trusted Investment Partner

As a seasoned investor, the father had the experience to ask in-depth questions about our investment processes including how we construct portfolios, how we select money managers, how those money managers determine the securities in their portfolios, and what our ongoing portfolio and manager monitoring processes were by both HighView and the family as a client.

Having managed his family’s wealth for so long, he was skeptical and needed to be certain that the wealth management firm he chose would provide the same levels of care and fiduciary responsibility that he had. HighView’s founding principles, processes, and transparency—from building goals-based portfolios to selecting the right third-party managers for each portfolio mandate and conducting quarterly and annual reviews—gave the father confidence that HighView was the right wealth management firm to entrust with their wealth.

 

Carrying Out a Careful and Comfortable Transition

Transitioning the family’s assets was a three-year process that occurred in stages for reasons of both comfort and tax mitigation of gains across multiple years.

Through active and ongoing communication, HighView developed a comprehensive goals-based portfolio structured for predictability and sustainability. An important part of this process was collaborating with the family’s network of professional advisors, including their accountant for tax planning purposes and their estate and trust lawyer to help the family update their wills and powers of attorneys, to ensure a suitable family wealth and succession plan was designed and implemented.

Today, the family feels at ease that their wealth is being sustainably managed not only because they transitioned to HighView, but also as a result of the ongoing oversight and governance provided through their stewardship council.

Preserving the Wealth and Achieving Peace of Mind

Before selecting HighView, the father’s biggest concern with hiring an advisory firm was their ability to make the family’s wealth truly sustainable.

Today, the family feels at ease that their wealth is being sustainably managed not only because they transitioned to HighView, but also as a result of the ongoing oversight and governance provided through their stewardship council, which includes us (the family’s fiduciary portfolio manager), their accountant, and other professionals. This structure allows all members of the family and their team of advisors to transparently understand how the family wealth is being managed in pursuit of their goals.

Schedule Your Discovery Session

  • Here's what you can expect at a complimentary discovery session with HighView:

    • We will take the time to understand the goals of your family and your future giving plans.
    • We will explore your approach to risk and your previous investment experience.
    • We will discuss how to want your various advisors involved and who you want arround the table.
See Beyond

Receive Market Commentary + Stewardship Insights.

  • This field is for validation purposes and should be left unchanged.