What is a Family Office firm and how is this different from an investment/wealth management firm?
A Family Office firm like Andina takes a more comprehensive view of your needs than typical investment firms. These include helping clients to plan their family’s future and implement not only investment strategies, but estate and tax planning, determining the best time and approaches to sell significant assets (such as a family business), planning multi-generational wealth transfer, and facilitating helpful practices like coordinated family retreats that can ensure that wealth is a shared, enduring family blessing.
What are the advantages of a small specialized firm like Andina compared with larger national and global investment firms?
There are a variety of advantages that we would be happy to discuss with you. For example, unlike most large firms, we are interested in helping families that are still building wealth through their businesses and occupations and do not presently have large investable assets. This is the best time to craft and implement strategies to maximize clients’ long-term after-tax returns. We can also offer a wider range of investment strategies and managers than most institutions that, due to size, can only allocate to the very largest investment managers. Many of the best investment opportunities today are found in smaller, boutique firms. Finally, when you work with Andina, you receive a high touch coordination of wealth preservation and building strategies from an owner of the firm free from conflicts prevalent in many larger institutions.
Do you need to manage all of our assets?
Andina does not need to manage all of your assets in order to add significant value. It is essential, however, that we have an awareness of your complete financial picture in order to craft plans that complement your other assets in a total portfolio. Some families setting up their own family offices look to Andina to supply elements that would be difficult to obtain on their own.
Can I still work with my present tax and legal advisors?
Yes. But if we agree that other professionals with specialized skills are required to supplement the team, we would be happy to provide introductions.
How does Andina work with me to develop a planning and investment strategy that meets our needs?
Our first and highest priority is to clearly understand your goals and to obtain a complete awareness of your current situation. Client objectives drive planning strategy and establish the parameters for investment portfolios. For example, imminent significant events such as college for children and retirement help us establish liquidity needs inside an investment portfolio. Understanding the dynamics of your family relationships impacts our approach to estate planning and family governance. Identifying your ideal retirement lifestyle contributes to the development of a retirement distribution system. How well we know our clients is directly correlated with how well we plan for them.
Do you have special approaches for advising professional athletes, actors, performers and other highly compensated individuals with potentially short, high-income careers?
Yes, a person who pursues a career with a potentially shorter number of high income years requires specialized planning. We help educate these individuals about how to create and manage current budgets while creating long-term plans for financial independence. We often act as a buffer between our clients and outside influences that may throw these clients off track in reaching their true objectives.
Can you help me organize all my financial documents, and provide a clearer picture of my investments?
Yes. We develop a secure web portal for all interested clients. This portal consolidates client assets, liabilities, and investments whether managed by Andina or not. In addition, an electronic vault is provided to gather all important financial documents (deeds, trusts, tax returns, etc.) into one secure location. We can also arrange the payment of bills to simplify cash flow management.