Wealth Management Consulting
Wealth management consulting attracts people from varied backgrounds and training. Unfortunately, many operate without a system and they fail to consider what is best for the family as well as the business and what the owner wants. We have found someone in the wealth management consulting field who not only knows how to plan well, but also writes about it so that other professionals can benefit from his experience and research. Here are some excerpts from Becoming a Wealth Transfer Specialist to give you a sense of just how complete and logical Karl Bareither's process is. FBR System, Inc.Enriching Families and Businesses for GenerationsFBR is Karl's acronym for family and business renewal, and that is exactly what his wealth management consulting plans accomplish. Mission StatementThe FBR System is founded on the principle that wealth is more than property. Specialists in serving high net-worth families, FBR utilizes a proven process with proprietary tools and trained specialists to create wealth transfer plans as unique as the client family's individual and collective needs. FBR System offers advisors two options: 1.FBR trains advisors to become wealth transfer specialists, or 2.They put advisors in touch with trained wealth transfer specialists who will work jointly with you, serving your clients. "How is FBR different from other wealth management consulting systems?"- Defines 'the client' as the entire family: Every family member participates in the development of the wealth transfer plan
- Uses a proven process that facilitates decision-making by giving voice to individual and collective concerns
- Employs proprietary tools to develop practicable, equitable, actionable plans
- Uses a true family-centered service model: By charging fees for service, avoids potential conflicts of interest inherent in product/transaction-centered practices
- Specializes in capital-intensive, privately-held businesses
- Defines wealth as more than property
Sidebar | | In this interview, we summarize the process... | | We recommend that you get Karl's e-book | |
Becoming a Wealth Transfer Specialist
| | to see how powerful this wealth management consulting process really is. |
Sidebar | "How will this wealth management consulting enhance my current practice/business?"- Amplifies your role as an advisor and expands your range of services
- Allows you to assume a unique role as trusted advisor to the entire family, evaluating both their emotional and financial needs
- Positions you to become an enduring resource to all family members
- Prepares you to manage complex wealth transitions
- Positions you to assist in implementation of new wealth transfer plan
“What’s in it for me?”- Benefit from use of a proven, successful model
- Access to proven proprietary tools including software to create report
- Support from network of FBR specialists and consultants
- Assistance in securing high net-worth clients
- Increased revenue potential
- Enhances and stabilizes revenues through fee-based service model
- Provides opportunities for increased sales of products and services
- Increases client retention through expanded services
- Expands client base due to involving multiple family members
- More successful practice
- Increases client satisfaction due to true service model
- Enjoy a more fulfilling and profitable practice by developing a relationship with clients’ children and/or grandchildren.
Benefits to Clients:- Secure wealth transfer while maximizing business profitability, minimizing IRS involvement, planning for smooth business succession, and avoiding economic disaster
- Wealth transfer plans as unique as the entire client-family, encompassing individual and collective needs
- Family satisfaction through shared and fair vision for the future
- Trusted, objective advice when facing the complexities inherent in business succession and wealth transfer.
- Minimize risk of family and wealth disintegration
- Financial and emotional security due to full family participation
The FBR philosophy of business wealth transfer can be summarized in these twelve principles:- It's a family affair, not just an owner's affair.
- It's a process, not just a transaction.
- It has an open agenda, not a closed and secretive plan.
- It asks questions, not just gives answers.
- It enhances the quality of family life through inclusion, not exclusion.
- It's a way to open family dialogue and communication, not closing discussion.
- It recognizes the greatest resources are people, not plant, equipment, and real estate.
- It deals with both "external" and "internal" matters, not one at the expense of the other.
- It looks ahead to a time for change, not remaining in the past.
- It seeks input from all clients’ advisors, not excluding anyone who may differ.
- It creates a family retreat with a Wealth Transfer Specialist, not a free-for-all finger-pointing argument.
- It promises a money-back guarantee if not totally satisfied, not a risky venture.
A word from Karl:"My legacy is to motivate, educate and train licensed wealth transfer specialists. I want to help advisors increase both their revenue through planning fees and increase product sales. If you agree that this approach makes sense for your practice, I urge you to take the next steps:" "If you believe in this approach but are reluctant to function as a trained Wealth Transfer Specialist yourself, consider outsourcing the WTS role to one of our trained specialists. Contact us via Don Schwerzler" "I look forward to hearing from you following your review and thank you for your consideration." Karl Bareither, CLU, Founder
Family Business Experts Understands
Family Values and Business Systems
Learn more about wealth management consulting
Please stay in touch and subscribe to our
Understanding Family Business e-zine.
Return from Wealth Management Consulting to
Family Succession Management
|
