SkyOak’s expertise in both Wealth Management and Family Office Services allows us to provide exceptional customized financial solutions for Elite Athletes and Celebrities.

Free Future Income Analysis

 

You worked hard and – while your income may be remarkably high this moment – it is our job to have a plan in place should that income lessen or come to a complete stop.  Protecting and providing for you and your loved ones not only during your career but afterwards is our highest priority. Some of the Wealth Management services we provide are as follows:

  • Financial Goal Setting
  • Financial Independence Analysis
  • Current & Future Income Analysis
  • Risk Assessment
  • Retirement Plan Consolidation and/or Analysis.
  • Self-Directed IRA services
  • Strategic Asset Allocation
  • Selection and Management of Securities and Investments
  • Active Asset Management
  • Incorporating Insurance-based Solutions such as Annuities, Life Insurance & Long Term Care Insurance when appropriate
  • Monitoring of investment Portfolios & Overall Investment Allocation , Income, and Goals
  • Analysis & Implementation of Corporate Retirement Plans and other Employee Compensation Plans
  • Providing written Investment Policy Statements
  • Succession and Estate Planning

Although there is some overlap, our Family Office Services provides numerous extended benefits and services including:

Investment management services

Typically, this will be the main reason for setting up a family office, as it is central to ensuring wealth preservation. These services will include:

  • Evaluation of the overall financial situation
  • Determining the investment objectives and philosophy of the family
  • Determining risk profiles and investment horizons
  • Asset allocation — determining mix between capital market and non-capital market investing
  • Recommendation and management of suitable investments
  • Providing due diligence on investments and external managers
  • Supporting banking relationships
  • Managing liquidity for the family

Philanthropic management

An increasingly important part of the role of a family office is managing its philanthropic efforts. This will include the establishment and management of a foundation, and advice on donating to charitable causes. These services would typically involve:

  • Philanthropic planning
  • Assistance with establishment and administration of charitable institutions
  • Guidance in planning a donation strategy
  • Advice on technical and operational management of charities
  • Assistance in formation of grant-making foundations and trusts
  • Organizing charitable activities and related due diligence

Life management and budgeting

Some of these services are typically defined as “concierge” in nature, but they are broader in scope, inasmuch as they also include budgeting services. Services under this heading will include:

  • Club (golf, private, etc.) memberships
  • Management of holiday properties, private jets and yachts
  • Budget services, including wealth reviews, analysis of short- and medium-term liquidity requirements and long-term objectives strategy

Business and financial advisory

Beyond the asset management advisory, we also, as your family office, will assist in providing advisory services on financing and business promotion. These will include:

  • Debt review and management
  • Bridge financing
  • Structured financing
  • Private equity
  • Mergers and acquisitions
  • Business development

Estate and wealth transfer

As your family office, we will be involved in business succession and legacy planning along with your legal team, enabling the transfer of wealth to the next generation. These services will include:

  • Wealth protection, transfer analysis and planning related to management of all types of assets and income sources
  • Customized services for estate settlement and administration
  • Professional guidance on family governance
  • Professional guidance regarding wealth transfer to succeeding generations

Training and Education

Much of this revolves around the education of the next generation on issues such as wealth management and financial literacy, as well as wider economic matters. These services will include:

  • Organizing family meetings
  • Ensuring family education commitments
  • Coordination of generational education with outside advisers

Reporting and Record Keeping

The maintenance of records and ensuring there is a strong reporting culture is another core part of a family office’s services. Key to these services is:

  • Consolidating and reporting all family assets
  • Consolidating performance reporting
  • Benchmark analysis
  • Annual performance reporting
  • Maintaining an online reporting system
  • Provide tax reporting documents to tax advisor and/or CPA

Administrative services, or back-office services

These are essential to the smooth running of a family office. These services will include:

  • Assist with opening bank accounts and investment related accounts
  • Review new Investment documents
  • Referrals and management of other advisory firms and professionals

Succession planning

Ensuring a smooth succession and planning for future generations is integral to the long-term viability of your family. These services will include:

  • Assist with implementation of intergenerational estate transfer plans
  • Adoption of a family charter or constitution, specifically aiming to:
    • Formalize the agreed structure and mission of the family business
    • Define roles and responsibilities of family and non-family members
    • Develop policies and procedures in line with family values and goals
    • Determine process to resolve critical business-related family disputes