Oxford, MS (PRWEB) November 19, 2013
In a recent Forbes column, Russ Alan Prince discusses the growth of Multi-Family Offices being fueled by some false claims. Addicus agrees with Prince, responding with their stance as a true MFO.
Addicus, a real multi-family office, responds to the recent column by Forbes contributor Russ Alan Prince.
The column, “The Multi-Family Office Gold Rush,” discusses the boom at which MFOs are appearing all over the map. This growth is fueled by many financial advisors and financial institutions labeling themselves as MFO or adopting some services to fit the MFO model. By definition, however, these advisors, institutions and banks are not fitting the bill as a legitimate multi-family office.
“I think there are many fakes out there, and we are not one of them,” says Drew Adams, Addicus Managing Partner. “I think this is similar to the term ‘financial planner’ and its evolution in the industry where many people who were not CFPs decided to start calling themselves 'Financial Planner' but weren’t providing anything different than they had previously."
“Most financial planners only do enough planning to highlight the need for an insurance or investment product and then the planning miraculously stops.”
What makes Addicus unique and fit the multi-family office model is its focus on planning. The products or investment services of a business will either make sense or not once the planning is complete. Most of Addicus’ successful clients who have family businesses with multiple family members involved have a CFO to coordinate their business/financial/legal affairs. However, often these business owners have a number of other assets – both paper and private business/real estate – with no CFO to coordinate these.
“This is where we serve, filling the gaps, uniting the advisors and ensuring opportunities aren’t missed or unnecessary mistakes made,” says Adams. “We have a supreme ability to identify issues, architect solutions that integrate with current and future planning, assemble and lead teams of resources to execute, and manage the solutions once implemented. That is a snippet of what a true MFO does.”
To learn more about Addicus and how a multi-family office can benefit your family business, please visit http://www.weareaddicus.com.
Addicus is a full service firm driven by economics, not finance. Our global perspective and approach often challenges conventional wisdom with amazing results. We specialize in providing services usually reserved for family offices of the world’s top earners providing our clients a boutique style approach with a personal touch. Addicus’ Private Wealth Development services start with a discovery phase by piecing together a full and thorough profile of one’s personal and business finances. Leading with your mission statement, Addicus designs and uniquely crafts a playbook to accomplish your goals and initiatives. Contact Addicus today and get started with a playbook of your own. Please visit http://www.weareaddicus.com.
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