Billionaires have long had access to dedicated family offices that coordinate every part of their financial lives. Families with tens of millions rather than billions, though, have historically had fewer options built specifically for them. Michael Gold, founder and CEO of Gold Family Wealth, has built his Westport, Connecticut practice around exactly that gap, serving households with 20 million to 150 million dollars in net worth.
Michael Gold describes his approach as bringing human first, family office style service down to a segment that usually gets treated like an afterthought by firms focused on either the mass affluent market or billionaire clients. His model relies on a network of specialists engaged on a fractional basis rather than a large in house staff, which he says lets families access deep expertise without paying for a full team they do not need.
Customization as a Baseline
Nearly all advisors, about 98 percent, now say new high net worth portfolios include some degree of customization, a sign that tailored planning has become a basic expectation rather than a luxury add on. Michael Gold Westport argues that for families in his target range, customization alone still is not enough without a coordinated view across investments, estate planning, family governance and other specialists a family already has in place.
He points to services that go beyond traditional financial planning, including protections against cybersecurity threats, personal safety planning and structuring wealth so multiple future generations can benefit from it. Gold says families in the 20 million to 150 million dollar range are dealing with many of the same coordination problems billionaires face, just without the budget billionaires have to solve them. By combining a fractional specialist network with what he calls clarity, coordination and governance traditionally reserved for the world’s most sophisticated families, Gold’s Westport firm is betting that this underserved middle segment will keep growing as more wealth changes hands over the next two decades. Refer to this article for more information.
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