Family Office
An elevated approach to achieving your goals
At GenCrest, we utilize the concept of family office services to help simplify each client’s complex financial life. We offer a high level of care and concierge service to help provide wealthy families with order, clarity and confidence.
Comprehensive services built around you.
In addition to managing and overseeing your family’s wealth through investments, tax planning, and estate planning — we take a holistic approach that addresses your family’s unique needs and goals. Our concierge service helps guide you to opportunities to enhance your quality of life while striving to protect and grow your family’s legacy.
The key to achieving your objectives is understanding what matters most to your entire family.
Our family office model offers access to:
- Our entire hub of services and adviser-led team of industry professionals, including accountants, estate and tax attorneys, insurance specialists, and more
- Tax advisory and preparation services
- Family-inclusive appointments for family members and heirs
- Concierge services designed to enrich your lifestyle, from philanthropy planning to quality-of-life enhancements to career counseling and other personalized guidance.
Frequently Asked Questions
There are many challenges to growing or maintaining wealth from generation to generation that reach well beyond investment strategies alone. Along with financial, tax and estate planning, family office services take a holistic approach to help fulfill a family’s shared legacy and lifestyle goals. At GenCrest, our team works with every family member to help ensure the preservation of wealth and values for future generations and to enrich the family culture and quality of life.
Quite simply, most high-worth families struggle to maintain their wealth beyond two generations. A study by J.P. Morgan Private Bank found that only 54 of the 400 1982 Forbes Wealthiest Americans were still on the list by 2003. Overall, 85% of America’s wealthiest individuals had dissipated their wealth, largely because of poor financial management.1
1”Beating the Odds.” J.P Morgan Private Bank. https://www.bbrief.co.za/content/uploads/2018/06/Beating-the-Odds-and-Staying-Wealthy.pdf [Accessed 13 February 2025]
Family capital refers to the three different forms of family wealth: human capital, which are the family members themselves; intellectual capital, referring to the knowledge, skills, values, and dreams of those members; and financial capital, the physical and financial assets that the family owns.
Remember that human and intellectual capital are much more important to your family’s happiness, comfort, and long-term success. Financial capital offers the means to enrich and secure opportunities to elevate them.
While it would be easy to point to investment strategies, tax and estate planning as vital pieces to preserving wealth, we see the key as something much more fundamental. Our experience suggests that successful multi-generational families need a shared sense of purpose, grounded in a long-term view of the family’s future.
It is vital to discuss as a family the values and priorities of the family as a whole, including a mission statement that puts a shared purpose and direction into words. This gives focus to family wealth that transcends a single generation, setting forth pathways for fulfilling goals for the future.