Family Office Experience

The Family Office Experience at Odyssey Wealth Design

Odyssey Wealth Design recognizes that your financial well-being extends far beyond just your investments. That is why we’ve created a special Family Office Experience to serve you more completely. By taking the time to build a relationship with you and your family, we are able to help you make the best decisions in all aspects of your financial life. We collaborate with professionals from other disciplines to provide you with the scale of planning, advice, and resources that other practices simply can’t provide. Our extensive network of trusted advisors all work together to help you accomplish your financial goals.

Odyssey’s Family Office Experience is a unique service we are able to offer in the marketplace. Historically, family offices have been reserved only for extremely high net-worth clients and come with a significant expense. However, we are now bringing a similar experience to Odyssey at a much lower cost. We are able to deliver this experience because our team is well trained in the art of designing and coordinating comprehensive financial plans, building relationships with excellent professionals of other disciplines, and by leveraging technology. Hence we have transformed our role from investment managers to full-scale financial coordinators.

The benefits of this level of planning for our clients versus a less comprehensive and coordinated approach can be significant financially as well as emotionally through a sense of security.

Some of the core services as a part of this experience include:

Financial Modeling / Cash Flow Planning:

• Devise a comprehensive financial plan designed to ensure your cash flow is optimized
• Identify the best ways to use your future cash flow––whether you are close to (or in) retirement, or accumulating resources and growing your wealth
• Develop a custom-designed financial model in which we input your assets, liabilities, taxes, and cash flow to project your situation five, ten, 20+ years into the future
• Use this model to identify potential changes in your financial future based on some “what if”scenarios and adjustments, such as:
• What is the financial impact of retiring in one year? Three years?
• How much in assets will I have in ten years if I spend $x/year going forward?
• How will my cash flow decisions impact my taxes?
• What would the financial impact be of changing my investment strategy?
• When will I achieve Financial Independence?

Tax Strategies:

• Simplify the complex tax-code and suggest multiple strategies designed to minimize your tax-burden
• Work closely with your CPA or tax-professional (or introduce you to one we trust) to ensure they know everything about your financial life––your goals for the future, family situation, cash-flow projections
• Implement the optimal tax strategies available
• Use our in-house CPAs and tax attorneys to review your situation from a tax perspective and provide feedback
• Continue to provide critical coordination over time that can result in significant savings and increased financial value

Investment Planning:

• Provide a comprehensive financial plan that gives you a high-level understanding from a risk/return perspective of how to invest your assets and various accounts in accordance with your goals
• Help you implement this high-level design with specific investments––such as stocks, bonds, mutual funds, and ETFs
• Leverage our experienced in-house investment professionals––CFAs, CFPs, AAMs––to identify the right strategies and investments for you
• Identify the right investment firms among our many trusted partners to handle your trades and transactions, rebalancing, and asset allocation adjustments of your portfolio, and provide them with parameters to work under
• Monitor on an ongoing basis the quality of our partner investment firms to ensure that you are receiving the best strategic advice and the optimal risk-adjusted return
• Determine the appropriate times to change the high-level strategy based on your long-term plan

Business Benefits and Succession Planning:

• Help you identify how to best leverage your business––often your most valuable asset––towards your personal financial and life goals
• Evaluate the pros and cons of various benefits available through your business––such as health and life insurance, 401K and other defined contribution plans, defined benefit pension plans, etc.
• Identify competitive strategies to compensate and retain your key employees and executives 
• Coordinate with experts in each of these areas to identify the simplest and most effective implementation strategies
• Determine what you need to generate from the sale of your business to meet your personal financial goals
• Communicate with internal and external succession planning experts––such as business brokers, law firms, and tax planning firms––to leverage the best resources and connections, and implement the right strategy for you

* Learn more about our business planning resources here BII Brochure

Estate Planning:

• Walk you through our estate planning process to identify what you want to accomplish from a high-level perspective
• Understand your financial, personal, and family situations––both now and projections for the future––to help you think through your options to develop a strategy that you are comfortable with
• Meet with you and a well-matched estate planning attorney to communicate your goals and make sure the high-level strategy gets put into action
• Review initial document drafts to ensure that nothing is missing, everything is in order, and the process is carried out correctly
• Ensure after the documents are drafted that the rest of your estate planning––such as beneficiaries and titling––is accurate

Executive Compensation and Benefits Planning:

• Review all the benefits, stock options, ESOP’s, qualified and non-qualified plans, etc. you have available
• With your comprehensive plan in-mind, identify which of these to utilize and how to maximize them towards your goals