How Today's VFO Operates
At the center of a Virtual Family Office is the client family or individual, supported directly by the VFO Wealth Manager who coordinates the efforts of other financial professionals on behalf of the family. The VFO Wealth Manager delivers high-end investment management products and services. He or she then draws on the skills and expertise of a broad array of specialists to deliver advanced planning products and services that go beyond investing—such as asset management, strategic tax planning and more.
The specialists who are part of a Virtual Family Office “fill in the gaps” by providing the expertise the coordinator does not personally possess. This is an important point, because no one professional—not even the smartest investor or tax attorney on the planet—will have all the knowledge and connections needed to serve the complex needs of affluent families. The people involved in family offices accept that fact. Instead of trying to be jacks-of-all-trades, these professionals do what they do extremely well—and then they collaborate with other specialists who are true experts in their specific area of financial and lifestyle management.