ABOUT US

Even though it’s a mouthful to say, Fortunate Family Office is the best way to describe our collaborative philosophy. A traditional family office is reserved for very wealthy families who can afford to hire a team of bookkeepers, accountants, financial analysts, real estate professionals, lawyers and financial planners to preserve and protect the family wealth. These professionals are retained to focus on that one family and make collaborative strategic decisions. Salaries, employee benefits, office space and other recurring costs associated with a full-time staff make a traditional family office cost prohibitive.

In comparison, the Fortunate Family Office takes the valuable team members a client already has in place and finds ways to use them more strategically. Where another professional is needed to fill a gap, Wade’s Fortunate Family Office is in place as a referral starting point for the client. His team of like-minded professionals are interviewed in advance and assimilated as key role players because of their ability to “play nice” and share information. Because these professionals serve other clients as well (in a fractional capacity), they are affordable to clients with a net worth below $10 million.

Typical clients who embrace this concept have made their money through a combination of smart financial decisions, business savvy, an inheritance or admirable savings behaviors. For whatever reason, the client finds that financial decisions are much more complex than they were in the past. They want a cross-disciplined team to digest their situation, provide an objective analysis and then offer improvement recommendations.

The Fortunate Family Office is best-suited for smart clients who want to be educated on the available options before having a compensation model forced upon them. At the point the client understands the appropriate available strategies to pursue their goals, the client chooses the compensation model that makes the most sense for them. The most common options are financial consulting fees billed and paid quarterly, investment advisory fees (sometimes called Assets Under Management fees), or commissions paid for placing insurance products or alternative, non-publicly traded investments. In some instances, accredited investors are able to choose a pay-for-performance fee triggered by investment performance.