UNDERSTAND ‘ your relationship to money’
The first step in any persons journey is to understand their own personal relationship to money and wealth. Not a cursory glance, but a real understanding of how they have been taught.
80% of parents believe their children learn all they know about money from time spent at school, whereas 90% of children believe whatever they know about money they learned from their parents.
Understanding ‘your’ genealogy of money and your relationship to it, will have a greater impact on your financial wealth and well being longer term than any other factor considering 87% of your choices are subconscious, while only 13% are conscience.
2. Inter generational protection
The trappings of success is often more aligned to keeping and protecting wealth rather than investing and growing it.
By using appropriate legal and qualified tax planning vehicles 643advisory assists wealthy families appropriately protect their wealth.
Simple yet effective inter generational wealth planning has been utilized for generations by wealthy private families to secure their success for decades to come.
3. Family Office Governance and oversight
It is our experience the most successful families put family relationships as a priority over money. This comes as the wealth is in ‘service’ to the family, not visa versa. This does not mean making poor financial decisions, but making sure family is kept in mind when making these decisions and not sacrificing one for the other.
Proper family Office governance oversight means financial, human and intellectual capital work collectively together instead of apart.
4. Patient Private Equity
Continued wealth is delivered through identifying investment opportunities with superior risk-adjusted returns which create either proprietary deal flow or collaborative solutions.
This is achieved with management teams who are interested in continuing to be meaningful owners and are invested in seeing the value of their company grow in small to mid-sized companies with strong EBITDA, demonstrating significant growth prospects, a meaningful cash flow profile, and the ability to differentiate their business model from that of its competition.
Patient Capital can then be deployed either in control or minority positions and invest through equity, preferred equity, subordinated debt, debt, and other creative structures.