How Efficiently is Your Wealth Managed?

April 07, 2017

Close your eyes and think about the structure of the business in which you work. What makes you successful is likely not the product you sell but the team of talent that surrounds you. You have specialists in each area of expertise (think C-Suite) working as one cohesive unit driving for long-term success of the organization. Each specialist has their role within the organization and is tasked with not only individual success but impacting the success of each of the other units.

Now think honestly about your personal finances. How do you control, preserve and grow your wealth? Is it driven with the precision that you drive your business? Do you have a team of talent working cohesively for the long-term success of your family or silos of salesmen (stock broker, insurance salesman, accountant, etc.) each with their own agendas? Unfortunately, many executives find themselves in a silo scenario, each working independent of each other which can cost not only in dollars, but also in lost opportunity, increased risk and most importantly wasted time.

Navigating today's financial landscape has become so complex that the coordination of wealth issues is truly a full time job. This is especially true of successful executives and their families. Tasks ranging from equity compensation management, concentrated positions, establishing and executing multifaceted investment strategies while also integrating specialists such as risk, tax and legal advisors all take a great deal of time, skill and energy. True wealth has the opportunity to create tremendous family value, not just financial, but unfortunately many of today’s most successful executives are forced to push their wealth management needs to the back burner for two reasons, time and access. They don’t have the time to research, evaluate and address each of their needs while it also may be true that they do not have the level of wealth to create their own Family Office (typically requiring over $300,000,000 net worth).

At Spurstone, we deliver Family Office solutions designed specifically for executives of publicly traded companies. By efficiently building our firm to work with multiple families (not just one like a traditional Family Office), we provide families access to the high level of talent and solutions they require while addressing the two major hurdles of time and access. We restore time to our clients’ busy lives by freeing them of the day to day demands of coordinating family wealth issues while doing so in an extremely cost effective manner.

Here’s an example of a new family that was introduced to our firm recently:

We were introduced to "Mark", a highly successful executive right here in Connecticut. Mark had a stockbroker who managed a portion of his assets, an accountant, a Will that was approximately four years old and he even executed a pre-nup prior to his recent marriage. Mark has been successful in his career and currently has a net worth exceeding $20mm. He has always had typical silo relationships with each of his advisors in which he has dealt with each independently and has been the driver of most interactions. With demanding work and home schedules, it has been difficult for Mark to get his arms around his wealth and the risks to his wealth and this was the reason for his introduction to our firm.

By bringing in our full team of talent to the table, we evaluated not just investment portfolios (as most financial planners have tried to do for him in the past), but went much further into his finances, his family and what makes them unique. Through our evaluations and strategies, we were able create over $2mm of estate tax savings, recognize and address a large estate tax liquidity issue, uncover and correct large liability coverage gaps, increase portfolio tax efficiency, restructure Mark’s equity compensation to substantially limit state income tax exposure and provide weekly wealth consolidated performance reporting that will allow him to better monitor and interact with his wealth over time. He now has a full team of talent working on his behalf, cohesively, to ensure his wealth is preserved, his risks are proactively addressed and his time is restored.

We exist to provide our clients with the best tools, technology and talent in order to preserve their wealth, restore their time and ensure their absolute privacy. If you believe there may be a better solution for you than working with traditional brokers and advisors who operate in their own “silo”, please request a private discussion with a member of our firm. This is a great opportunity for you to hear our story, what makes us unique and determine if we might be a great fit for your family.

I look forward to hearing from you soon.


Tim Golas
Spurstone Executive Wealth Solutions