More than a decade ago, turnkey asset management platforms upended the wealth management industry. A new company is trying to do something similar by making it easier for advisors and firms to offer ultra-high-net-worth investors family-office services.
The Family Office Resource Group (FORG) announced its launch earlier this week. According to a press release, the company has an expansive suite of tailored solutions that advisors can white label for their own use. This includes offerings dedicated to CFO and accounting services, business legacy planning, risk management, philanthropy and family governance.
FORG founder and CEO Brian Weiner told DWN that the company also has elevated cybersecurity expertise. He says that’s necessary because UHNW investors tend to have more acute concerns in this area than other client demographics.
“UHNW clients generally have more liquid and hard assets to protect as compared to the average retail investor,” he said via email. “They generally have many more entities with multiple ID numbers, with ties to different jurisdictions. Lastly, they tend to use more than one advisor, such that their private information is sitting on multiple servers that make it much more vulnerable and accessible to hacking or sabotage from bad actors.”
4100FS, a private equity firm focused on financial services companies, has provided FORG a growth equity investment. The size of the investment was not disclosed. One of 4100FS’ principals, Daniel Bryant, serves as FORG’s executive chairman.
Weiner has 25 years of family office experience. Over that time, he’s held a number of executive positions with firms, most recently at ExCel Global Family Office as founder and CEO.
“Ultra-high-net-worth clients expect a high level of service and face unique challenges, but experts with the vast experience and skills to satisfy this unique demographic and help them overcome the challenges they face are few and far between,” Weiner said in a release. “FORG fills this huge void in the marketplace, with wealth management professionals now able to provide the types of value-added services these clients expect and demand.”
