The Real Wealth Management™ Office
The creation of The Real Wealth Management™ Office can be traced back to the family wealth office approach.
A traditional Family Wealth Office acts as the chief advisor to successful families, with a dedicated team of professionals who oversee and manage the complete financial affairs of client-families. They offer their clients a wide range of incredibly specialized and bespoke services.
The Family Wealth Office is renowned for its unbiased advice and the seamless coordination of specialized financial professionals, all dedicated to serving one or a select few families. This approach ensures that every aspect of a family’s financial affairs is expertly managed.
Traditionally, these offices catered exclusively to ultra-wealthy, multi-generational families whose substantial assets required full-time professional management to preserve and grow their wealth over generations.
This approach eventually evolved into the multi-family office model, where one firm manages the finances of multiple wealthy families. As the gap between the masses and the wealthy narrowed and financial professionals began to shift their focus to the mass and upper-middle class, The Real Wealth Management™ office was created.
The Real Wealth Management™ Office is an Integrated and Coordinated Approach to Wealth Management for all families. After all, no one builds wealth alone.
Many families have access to individual advisors in specific disciplines, such as tax, legal, insurance, and investments. However, there may be very little coordination between these professionals, which can result in a random mix of investments, strategies and services that may not meet the family’s overall objectives and values. This can also lead to discrepancies that present misalignment of family and financial goals, or more seriously resulting in negative tax consequences and disharmony within the family.
DeLauretis Wealth Management Inc.’s role as a Real Wealth Management™ office is to develop an integrated and coordinated wealth plan for family-clients. We identify areas requiring specific external expertise and bring those partnering-professionals into the wealth planning process as needed.
Typically, we work with our clients’ existing financial team, such as accountants, tax specialists and legal representatives, especially where a trusted relationship has existed for years. Conversely, if our clients do not have a trusted financial team in place that includes the multiple disciplines, we will introduce them to professionals from our network of external collaborating partners, who we believe can best meet their needs.
DeLauretis Wealth Management Inc.’s range and depth of experience in all key financial disciplines and our advocacy for the RWM™ process makes us uniquely positioned to lead aspiring families to achieving their full potential.
- RWM™ is a registered trademark of Knowledge Bureau, the founder of the Real Wealth Management™ Designation program, Practice Framework and Standards of Conduct.
