MFOs may have one or more of the following benefits:
- Objective financial advice
- Creative solutions to financial issues
- Clearinghouse for financial, investment, tax and estate planning ideas
- Cross-fertilization of ideas resulting from solving issues for multiple families
- Services are typically “all you can eat” for asset based fee or flat retainer fee
- Advice from professional team with diverse backgrounds
- Coordination of other advisers
- Proactive advice – a function of low client to employee ratio and frequency of meetings
- Delivery of “best of breed” money managers, custody, insurance, loans, etc.
- Negotiated cost savings with other financial providers (e.g. investment management, custody, trading costs)
- Integration of client’s estate planning, income taxes, investments, philanthropic goals and family situation
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