Here are some common questions we get from people who are trying to select a firm, followed by our responses.
Financial planning is focused on specific, shorter-term goals and the financial strategies it will take to achieve them. Wealth management, alternatively, refers to the practice of growing and preserving your wealth over the long term, encompassing investment management, tax and estate planning, philanthropy, insurance, retirement, and intergenerational planning. At TwinFocus, we refer to that as our “total balance sheet approach.”
The main difference is the scope of services being provided to the family. Family offices provide a more comprehensive and personalized approach, managing not only the financial investments but also legal matters, tax issues, estate planning, philanthropy, and even personal services like household management and bill pay.
Managing your wealth and family legacy can be complicated and time consuming. TwinFocus simplifies the overwhelming, watches for blind spots, and takes care of the smallest details so that you can focus more on what matters most. With experts across a range of disciplines, we craft innovative solutions that meet your needs today and tomorrow.
When managed properly, wealth has the power to support the life and legacy you desire. Significant wealth brings significant complexity and responsibility. Developing a bespoke strategy with professional advisors who have extensive experience across the full spectrum of wealth planning helps you keep more of your assets and preserve them over generations.
The TwinFocus team looks after your family’s wealth and well-being with uncommon attention to detail. We offer the resources and expertise of a global investment house with the independence, customized solutions, and personal service of a boutique firm, including:
TwinFocus offers personalized service and customized solutions that address your specific wealth and well-being needs. We are experts across a wide range of disciplines, providing you with a 360-degree, total balance sheet approach. Unlike large financial institutions, which often require that their employees promote and sell proprietary products, we are not incentivized to offer a specific financial vehicle or service. Instead, as a fiduciary, we thoroughly review products from multiple sources and only recommend those that are best aligned with your unique financial objectives. Beyond that, we serve as a life concierge helping you navigate life’s opportunities and challenges, from family dynamics to international moves or even to finding an apartment for your child or insurance for your pet!
As your assets grow, so too does the complexity of managing your full financial life. Look for firms with experts across a range of disciplines— investment management, tax and estate planning, philanthropy, insurance, retirement, and intergenerational planning—who work collaboratively and can provide you with what we like to call a total balance sheet approach. Most importantly, a positive wealth management experience is based on relationships. Find a firm that makes you feel comfortable, that listens to your concerns and that you can trust to always place your interests above theirs. Also look for a partner who’s fees and incentives align with yours as well.
A fiduciary is someone who manages money or assets on behalf of another party and is obligated, by law, to act in the best interest of that client. As a fiduciary, TwinFocus will always put you and your family first.
Even substantial wealth faces risks: taxation, overspending, and misguided investment decisions, among them. Working with trusted professionals who consider your total balance sheet can help you protect and preserve your wealth over the long term. At TwinFocus, we manage risk across your full financial life, not just across investment opportunities and portfolios.
Taxes can be one of the biggest drags on your portfolio and overall net worth. Tax-efficient investing involves selecting strategies and investment vehicles that mitigate your tax liability. This could include tax-loss harvesting, donor-advised funds, and thoughtful timing of distributions from company equity and retirement plans. One of the benefits of working with TwinFocus is that we consider tax strategies in every part of your balance sheet so you can keep more of what you earn and gain.
Tax-loss harvesting is a strategy designed to help lower your overall tax liability by offsetting capital gains with capital losses. It involves selling an underperforming investment, using the loss to reduce your taxable capital gains, and then reinvesting the proceeds from the sale to buy a different investment. This strategy can offset up to $3,000 in ordinary income per year. It does have limitations and restrictions, however. As with any tax strategy, it’s best to consult with a tax advisor to see if it’s right for your portfolio.
TwinFocus works with clients who have significant assets, whether that’s from selling a business, inheriting generational wealth, or anything in between. We are ideally positioned to support global ultra-high-net-worth investors, entrepreneurs, their families, professional investors, and select institutions looking to preserve, enhance, and transfer wealth across multiple generations.
Family is who we are, and how we treat our clients and colleagues. We offer personalized, hands-on support throughout our relationship, and are sincerely driven to craft innovative solutions that meet your needs today and tomorrow.