NORTHWOOD'S APPROACH

Below are three examples of family situations that we commonly work with. Click on each one to find out more about our capabilities:

1. Sudden wealth: A recent sale of a business has left this family struggling to deal with the complexities of their new wealth

2. Complex affairs: A second generation wealthy family is challenged to effectively manage all the details of an increasingly complex set of family businesses

3. Time challenged: A busy and successful executive needs help managing the wealth that she and her family are accumulating, as she doesn’t have the time to devote to it

SUDDEN WEALTH

“Now we have lots of money, but we don’t really have a clear idea of what to do with it. We would like to have a coherent strategy in place and make sure it is actually implemented.”

The client
Peter and Mary Hall have always lived quite modestly, but now they have sold their business for $50 million. Unaccustomed to such wealth, they have limited knowledge about investments and are unsure how to proceed. Used to managing a business, rather than the proceeds of a large sale, they know they must protect their newfound wealth, invest it wisely and save on their taxes as well. The family is small, just Peter and Mary in their fifties and their two children in their early twenties.

The Northwood approach

A comprehensive review of the family’s financial situation as well as their goals and objectives

Tax planning and income splitting opportunities with their two children and the use of a family trust

A review of charitable goals and a resulting structure that is efficient and easy for the Halls to manage
An investment management approach that allows the Halls to be comfortable and confident, including a mix of investments that will meet their long term goals, and introduction to private equity opportunities
Financial and wealth management for the children

The result
The Hall family is secure in the knowledge all of their affairs are being managed through one team dedicated to their needs. In addition to helping them manage their finances, Northwood also advised the Halls as they built several family cottages, consulted with them on the children’s education and set up comprehensive insurance structures to protect their wealth in future years.

“We now feel secure that our money is being managed expertly and that we’re getting the right advice to help us to educate our children about the wealth they will inherit one day and how to be wise stewards of that legacy.”

“True family wealth encompasses financial resources but also includes family harmony, physical well-being, a broader sense of legacy and reputation, integrity, spiritual growth, intellectual capital and the personal happiness of each family member.”

Mark Haynes Daniell, Founder and Chairman, The Cuscaden Group, ‘Strategy for the Wealthy Family'

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