Family Office – What does it Offer You?
The term family office might be confusing for some. Many may believe it’s a corporation or business that’s primarily run by members of the same family. The truth is something far simpler and infinitely more complex. The Family Office is one person who is essentially responsible for managing the “Family.”
In this case, the family may be an actual family or one individual person. Not everyone needs a family office. This is something that many high net-worth people, though, do need.
Mark Rotstein, founder of EQ Partners, is different than many other who handle the responsibilities of the Family Office. He believes it’s important to first build a relationship with the family. Only then can he truly determine what it is the family wants and needs or how he can go about helping the family succeed in reaching their goals.
Key Elements of the Family Office with EQ Partners
Mark believes that in order to provide outstanding results to his clients there are certain things he must do. The first, is to keep his client list small. Mark doesn’t believe it’s possible to provide Family Office clients the access they require if he has a large client list. He intends to devote the necessary time and energy to each of his clients and can only do so if he only takes on a few clients at any given time.
Second, Mark believes in the importance of building long-term relationships with clients built on both mutual trust and respect. This creates loyalty on both sides and creates an atmosphere where clients can deal honestly with him while expecting (and receiving) the same in return from him.
Mark understands that families are interested in leaving a legacy for future generations. That requires maintaining certain levels of comfort and privilege. In order to provide peace of mind, Mark believes it’s important to help families create a budget that leaves primary assets in place while allowing the family to stay true to its philanthropy and desired lifestyle.
This is why he believes it’s so important to get to know the family. That allows him to work with the family to create goals for the future, vet their philanthropic choices, and educate the family about how their assets are managed and secured.
The Family Side of the Family Office
Mark loves working with families and offers many services specifically related to meeting their needs as life’s changes come along. This includes things like weddings, welcoming new babies, and saying goodbye to family members through divorce or death. He offers succession planning services so that the person to take over family business responsibilities is always prepared, and estate planning services as well – to secure the legacy you leave behind as well as philanthropic causes that are near and dear to your heart.
Mark Rotstein understands the importance of family. He takes his role as Family Office seriously, offering the discretion and attentiveness such a serious position deserves. If you are a high net-worth family that is seeking to secure your position for generations to come, Mark and EQ Partners can help.