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family office general wealth structuring Sep 04, 2021

Financial Planning for private wealth has been around for some decades now and has certainly done a lot of good: people started to treat their personal finances with more care, applying a systematic approach and the concentrated knowledge of trained advisors.

It always starts with a wealth balance sheet – a good financial hygiene for everybody as it forces you to look at your status quo once a year. Shortcomings in that balance sheet as well as personal aims and needs help to define a goal for the size and structure your wealth should have in the future. And the journey from status quo to that goal allows your to identify a strategy for investment.

Adding a solid cash flow planning including your life expenses and income flows from investments or salary-kind of income complements the balance sheet to an integrated financial plan - like it is done in corporations. Why shouldn’t you plan your private wealth just as professionally way as your entrepreneurial activities?

Unfortunately, financial planning often became a standardized practice, doing the whole exercise even for smaller or less complex wealth, thus overdoing it at times. And for substantial wealth it often showed irrelevant dimensions, e.g. pension planning or insurance issues that big wealth often does not have to care about.

BeeWyzer takes the balance sheet approach to the next level, focusing not only on corporate and private wealth, but on human capital, social capital and family value also. It just makes sense in a complex family wealth setting. We have tools that cut financials simple, so everybody can create a balance sheet, define needs and goals and design a strategy accordingly. It is a simple Strategic Asset Allocation for the years to come, no complex maths is needed or a web-based calculator does the job for you. In our experience this gives a helpful orientation for wealth structuring – sufficient in many situations. But if the complexity is higher – you can and should bring in a financial planner for the fine-tuning.

Such advisers could also work for you on questions that may come up on the way. For example, on cost controlling, when you are not sure and need a second check. This may be money well spent: In our video on controlling, we tell the story of a very wealthy person that had invested in real estate development. When a new advisor with some financial planning background checked the real estate finance of the development, he noticed the calculation method applied by the bank was not the one laid down in the contract. Guess who’s benefit it was! Within a few weeks EUR 100.000,-- were paid back to the client. So, controlling makes sense – and sometimes also pays more than the money spent on a financial planner.


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