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Your Wealth, Well Managed®

Family CFO®

In the business world, the responsibility for managing the Business Plan usually rests with the Chief Financial Officer, or CFO. The CFO in turn reports to the Chief Executive Officer on all financial matters related to the business.

We created the Family CFO® to reflect the similarity of the role we play in the lives of our clients (who in this context are the CEOs), with the traditional CFO role. We provide ongoing assistance with the implementation, monitoring/reporting and evaluation of the strategies and tactics contained in the Integrated Plan. The ultimate objective is to ensure that the family’s financial goals are achieved and maintained, and that wealth is maximized by prudent, risk-adjusted growth and by minimizing expenses and tax. Each family’s situation is unique, but past examples of specific Family CFO® services include:

  • Periodic updates of the Integrated Plan (in response to positive and/or negative events)
  • Drafting Investment Policy Statements
  • Evaluating Investment performance (returns as well as risk)
  • Negotiating fees with investment managers
  • Significantly reducing investment management fees
  • Coordinating investment managers
  • Liaising with lawyers respecting the drafting/updating of estate planning documents
  • Establishing tax-effective registered and non-registered retirement plans, where appropriate
  • Optimizing existing insurance policies for type, funding and estate benefit (stewardship)
  • Tax optimization of investment portfolios
  • Assessing the lifestyle risk of a proposed transaction
  • Optimizing estate objectives regarding a family business
  • Referring accountants regarding tax information
  • Liaising with lawyers regarding drafting/funding of Shareholder Agreements, Family Trust Agreements, Partnerships and Limited Partnership Agreements
  • Establishing executive disability income protection arrangements

Our fee for the Family CFO® is typically a percentage of investment assets. In most cases, the amount of our fee together with third party investment management fees paid, is less than the amount of investment fees alone previously paid by clients.