Who Benefits from FBO Services?

Families of wealth have very unique issues generated by the management of wealth. They often lack consistent family management and accessible business representation and guidance. Typically issues are brought “piece meal” to professional advisors (CPAs, financial consultants, tax advisors, and business consultants). These professionals rarely communicate between each other, and the result is a fractionalized approach to solving family financial and business concerns, losing significant time, energy, and expense.

FBO provides a cohesive connection, allowing for a proactive rather than reactive approach for our families and their business enterprises. Our clients are on a fixed retainer, which allows access to our services without the concern for extra billing. Any individual or family with significant assets seeking to streamline their lives and provide added credibility to their business enterprises will benefit from the FBO model.

FBO Represents the Family Directly

A traditional, non-FBO, approach to legal representation is on an “as needed” basis. This type of representation tends to separate a family’s personal interests from an issue and leaves independent counsel to handle problems which often become unnecessarily complex or inflated. The family interests are removed from the decision making process.

FBO, under continuous interaction with the family, acts as the family’s representative and integrates into the center of all family matters and concerns. This creates consistency in decision-making and management.

FBO attends frequent family meetings. We personally receive and process family directives, needs, and priorities from senior family members. This allows FBO to manage complex family issues before they become problematic, guiding the family to a desired resolution.

FBO does not replace existing attorneys, accountants, investment advisors, or counselors of your family. At FBO, we become familiar with all matters involving your family and we evaluate your current team of advisors to ensure they are providing the necessary expertise. We will make recommendations for their handling through our highly credentialed network of professionals, and will ensure your family’s objectives and goals are met. Proper delegation and action toward resolution of a matter is FBO’s hallmark and focus.

What is the FBO Network?

One of FBO’s greatest assets is the network of specialized professionals who handle specific issues with expert precision. We ensure all family matters are handled by the most competent and accomplished individuals or firms in their field from attorneys, accountants, investment experts, estate planning firms, human resource specialists, and charitable giving specialists. Working together as a team, FBO maintains an ongoing connection between our client’s issues and our network of highly skilled professionals most capable of their resolution.

Who Handles my FBO Account?

Richard Watts, the founder and President of FBO, is involved in your family’s matters on an ongoing basis. As an FBO client, you will have frequent contact with Mr. Watts, his associates, and administrators. Richard’s families rely on him to oversee family operations and make decisions with them on a daily basis.

Each week, FBO holds an internal case management conference to discuss your family office’s matters. The issues are prioritized on a weekly basis to allow constant focus on the most serious and concerning issues.

How is FBO Paid for its Services?

FBO is retained with a predetermined annual fixed fee that is paid monthly. Continuous and frequent contact is essential and encouraged. We interact with our clients regularly. The FBO contract is a continuing agreement which may be concluded by the family or FBO at any time. FBO accepts the challenge of providing continuous value for your family.

We look forward to meeting with you and your family to discuss the benefits and services available, and more importantly, whether FBO is a good fit for your needs.

We Welcome Your Inquiry. Contact us today.