MULTIPLE GENERATION CASE STUDY

Clearstead’s process simplifies complexities of family wealth

In some cases, engaging with the patriarch of large complex families can lead to the engagement with other family members.  This can happen when family members understand the comprehensive approach that Clearstead takes to consolidate service providers and simplify the reporting of families’ assets by family member and entity. This can especially be true when families have complex assets, such as alternatives or entities that have different ownership structures.

CLEARSTEAD’S SWEET SPOT IS DEALING WITH FAMILIES THAT ARE COMPLEX, GEOGRAPHICALLY DIVERSE, WITH BOTH COMMON AND INDIVIDUAL GOALS REQUIRING INFORMED OVERSIGHT AND GUIDANCE.

Clearstead can work with client’s estate attorneys to setup trusts for multiple generations and discuss the creation of cohesive plans to optimize management of family assets.

Clearstead is also able to review and create gifting plans for families that incorporate an asset allocation plan that is aligned with the liquidity needs of the family members.

When working with all members of a large family and understanding their individual needs Clearstead can create advantages that all family members can benefit from collectively and in contrast to everyone going their own separate way.

OUR SOLUTION

Clearstead is able to work with large complex families as a whole and with each member of a family separately. As is the case with most large families, different branches can have different goals, even with a cohesive investment plan. Clearstead can work with families on their individual divergence to adjust the aggressiveness of each families plan according to their situation.

Clearstead’s in-house research team is able to collaborate with our private client advisers to incorporate their understanding of complex estate structures with how to allocate investments to each bucket within a family. This strategy starts with planning, drilling down through each layer until reaching the natural culmination, investments, at the end. In between, a complete and thoughtful analysis has informed those investments.

For example, efficient estate structures that access every available advantage can often save far more in tax dollars than any investment plan would ever yield, so effective planning is crucial.

In some multigenerational families, Clearstead works with the most senior generation to determine the goals they have for the family wealth, and then devises a structure to meet those goals. Some want the money to serve as a safety net; others want to give their children and grandchildren free rein to tap these structures. The third generation may seek advice: how do I avoid running out of money? Can I buy a home? Start a business? Each family’s philosophy governs the multigenerational planning for how these assets may be used. Clearstead’s role is to listen to that philosophy, then implement it as efficiently as possible.

Find Your Clarity

We bring our clients objective financial leadership through our fee-only advisory model, which enables us to remain objective. We do not offer proprietary products and take no commissions from product sales: our only source of revenue is fees we receive for financial advice. True to our founding principles, we do the hard work: the day-to-day investment management integrated with organizational priorities and family aspirations.

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Clearstead is an institutional and private client advisory firm that is relentless in providing solutions so our clients can exceed their aspirations and build stronger legacies for their families, their communities, and themselves.

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