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If you’re reading this blog, our guess is that you’ve probably been quite successful at building or accumulating assets. However, the way you built those assets was probably not from traditional investing and tax-know how.

You likely hired a financial advisor, CPA, and possibly an attorney along the course of your wealth-building journey. We’re assuming these separately-hired professionals rarely – if ever – talk to each other and they each make decisions in a silo. At the same time, these professionals may be out on the golf course generating new business while someone else makes decisions about your account.

The Problem: The Financial Industry is Broken

Your CPA and attorney are trying to manage your life by the books with compliance and legal requirements’ top of mind and a cookie cutter approach as the standard. Your financial advisor has placed you in the same mutual fund set that he puts those who have a fraction of the wealth that you do, and went back to putting the green.

That’s when you realized you need to upgrade your financial team.  

Your separately-hired professionals’ lack of communication is costing you money – in inefficiencies, lost opportunities, and extra fees. You might as well take your money and light it on fire!

Yet, if you’re like most people, you’ve made investments over time, took each decision as it came, and pieced together a plan that has always been good enough – for now. However, the holes in that plan are where money is leaking out – and it’s leaking right into the hands of the IRS, financial institutions, and poor managers. 

Our guess is that if you had employees treating your company in a similarly reckless fashion you’d fire them, right?

So how is your personal wealth team any different? It isn’t.

If you’ve decided you need help with managing your increasingly complex operation, you’ve begun to ask your contacts about advisors or checked out a website or two. Maybe you’ve found someone who is a friend of your buddy, or an old fraternity brother, or a cousin to your step-uncle. They quoted you a low fee, and they promised an easy sign-on process. You’re almost bought in, but since you’re smarter than most you keep looking for answers.

The problem is that the financial industry is broken. The fee structure for most advisors makes it impossible for them to give non-biased advice because they charge a percentage of the assets that they control. Unfortunately, to run a good non-biased Family Office (where the investment, insurance, tax, and estate planning staff are solely employed by you) costs upwards of $1M per year. So, to them, you’re a financial misfit. You are in between the Rockefellers and the Average Joe, and they don’t know where to put you.

So, you ask yourself, why does it have to be so hard? All you wanted to do was match your increasing amounts of available cash to investment opportunities with a good return, and not get swindled by the bank or Uncle Sam. 

To us, that seems somewhat backwards.

The Solution: A Family Office

As a solution, if you want to be a good steward of your wealth, we recommend utilizing what we call a Fractional Family Office. This is the secret behind the most successful families and businesses. A family office is a group of fiduciaries who work together to find innovative solutions for your financial life. These solutions cannot be seen when looking at only one piece of the picture. A family office’s carefully-produced strategy turns your hard-earned money into tax-efficient, wealth generating assets.

That’s why we created Ark Financial. We offer a simple way to get the counsel you deserve for yourself and your business with proactive advice on any strategy, move, or decision that affects your bottom line. And we bring along a variety of experts to help us. The years we have spent accumulating knowledge, lobbying Congress on tax issues, and solving problems for clients cannot be replicated. Contact us today to set up a free consultation and see what opportunities we can offer your wealth!

Jeff Socha

Jeff Socha is a Senior Advisor and Founding Partner at Ark Financial. Jeff’s specialization in business and personal financial planning is in his family’s roots. Jeff has extensive experience developing intricate financial solutions for business owners and executives across several industries.