With two decades of financial planning experience behind him, Paul Vorstadt holds responsibilities with Dundee Goodman Private Wealth as vice president and portfolio manager. Paul Vorstadt and his team emphasize quality investment, insurance, and estate planning services, within a financial advisory business model that is quickly evolving.
Having weathered boom and bust economic cycles, ultra-high-net-worth families are struggling with a dizzying array of services offered by diverse investment managers, trustees, attorneys, custodians, accountants, and insurance advisers. This reflects an increasing complexity in the investment choices available, as well as the legal and tax ramifications of each investment. Family offices have evolved to ensure that the full range of investment activities undertaken are both appropriate for and integrated within the family’s core objectives and values.
The new model offered is distinct from a traditional bundled model, in which products and services carried charges, and advice was provided at no cost. The new model is unbundled in that the advisor is longer on the “sell” side, but offers consulting not connected to the sale of specific investments. Wealthy clients are increasingly willing to pay a premium for advice that is objective and untainted by “sell side” considerations.
Having weathered boom and bust economic cycles, ultra-high-net-worth families are struggling with a dizzying array of services offered by diverse investment managers, trustees, attorneys, custodians, accountants, and insurance advisers. This reflects an increasing complexity in the investment choices available, as well as the legal and tax ramifications of each investment. Family offices have evolved to ensure that the full range of investment activities undertaken are both appropriate for and integrated within the family’s core objectives and values.
The new model offered is distinct from a traditional bundled model, in which products and services carried charges, and advice was provided at no cost. The new model is unbundled in that the advisor is longer on the “sell” side, but offers consulting not connected to the sale of specific investments. Wealthy clients are increasingly willing to pay a premium for advice that is objective and untainted by “sell side” considerations.