When wealthy families are looking for a partner to manage generational wealth, they can choose to work with a large wirehouse firm or opt for a more personalized experience with an independent Registered Investment Advisor (RIA). When we founded Alpine Hill Advisors as a boutique wealth advisory, we understood that high-net-worth individuals and families have complex needs. Therefore, they require an advisor’s complete and undivided attention.
It was an easy decision for us to structure ourselves as an RIA. Exceptional clients require durable, impervious relationships to withstand any test. This is especially true today with the challenges of inflation, a down stock market and rising interest rates. With the ability to preserve wealth facing such uncertainty in 2023, the case for independent and unbiased advice has never been stronger.
To manage risk in a volatile environment, the client/advisor relationship must become more interdependent than ever before. It requires closer interaction and discussion about more than investments. A large firm focused entirely on money management risks being caught flat-footed at a time when being nimble is required. Current volatility requires reassessing everything from portfolios, estates, taxes, private banking and even lifestyle goals if necessary.
Sustaining family wealth is never easy, regardless of market conditions. Statistics show that enterprising families’ ability to sustain their wealth and legacy beyond the next generation is greatly diminished in the second and especially third generations.1 The attention given by a boutique firm may offer the best opportunity to defy these challenging odds.
Team-based Wealth Management: Attention to detail
Boutiques like ours are entrepreneurial by nature. They bring a philosophy and work ethic that mirrors the family enterprise, tapping into the same best practices and processes that created their family wealth in the first place. The interdependent relationship offers direct accountability and constant review of every aspect of the plan.
Client access to critical resources
Small but powerful firms can provide meticulous governance of all the necessary resources for success. Simply put, we may function as your point person for managing other important relationships like attorneys and accountants. The result is a cohesive strategy to help protect your family’s wealth and best interests in all areas including risk management, taxes and legal safeguards.
An RIA offers a comprehensive collection of knowledge
Inspired by a shared vision for sustaining a family’s wealth, legacy and lifestyle, a boutique allows for rapid adaptation to volatile economic, social and even technological conditions. Well-managed multi-generational wealth is an endeavor requiring highly skilled expertise. It can provide an advantage in building resilience, managing opportunities and avoiding excessive risk.
As we begin a new year, the ‘business of the family’ will require attentive best practices from an independent and closely held firm that understands the priorities of families:
• What are your family’s most important goals in 2023?
• Are there areas of risk that may need attention?
• What are the priorities of the family enterprise: businesses, philanthropy, legacy?
• Have the goals and governance of the family’s leadership been established?
Our industry is fast-paced and requires a relentless commitment to high standards of trust, service and broad financial acumen. At Alpine Hill Advisors, we have been fortunate to be trusted advisors for exceptional families throughout our careers. Our success has come through providing clients with a refreshing alternative to a mega firm that may have conflicting priorities.
As we leave the challenges of 2022 behind us, families of wealth will face new threats and opportunities in the new year. It will require them to seek safety, security, access and attention to detail from their advisor relationships – perhaps more than ever. At Alpine Hill Advisors, we rely on our foundational pillars of professionalism, expertise, objectivity and most importantly, transparency for our clients and their families.
If you would like to discuss the benefits of working with our boutique RIA or would like to comment on any aspect of this article, I would love to hear from you.
Thank you for reading
President and Founding Partner
Alpine Hill Advisors
Brandon Pacilio is President of Alpine Hill Advisors, a Westport, CT Registered Investment Advisor firm. If you would like to contact the author, please e-mail him at email@example.com or call 203-429-0406.
1 Entrepreneur Post, April 13, 2023
The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor Alpine Hill Advisors LLC (“Alpine Hill”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Alpine Hill and its representatives are properly licensed or exempt from licensure. Please visit our website https://alpinehilladvisors.com for important disclosures.