In the evolving landscape of wealth management, two New York-based firms have made waves by entering the family office space with innovative approaches aimed at addressing the unique needs of ultra-high-net-worth clients. As industry competition grows, the demand for personalized, efficient, and transparent services has never been higher. This article delves into how LinePoint Partners and Five Eleven Partners are redefining the family office model, offering distinctive services to both clients and advisors.
LinePoint Partners’ Affiliation Model
A New Approach to Advisor Transition
LinePoint Partners, under the leadership of CEO Robertino Coury and President and CIO Andrew Sternlight, introduces a unique affiliation model designed to support advisors transitioning away from traditional wirehouses and private banks. This model is particularly appealing for executives managing single-family offices. One of LinePoint’s standout features is its policy allowing advisors to retain up to 100 percent of their advisory fees while maintaining control over their client relationships and brand identity. This level of autonomy is unprecedented in the industry, reflecting a significant shift towards empowering individual advisors.
Further, this innovative model is grounded in the legacy of Robert J. Coury, the founders’ father, who envisioned a wealth management system that prioritizes client needs. LinePoint aims to enhance services for single-family offices by focusing on improving tax efficiency and reducing operational costs. Their initiative not only offers financial benefits but also promises significant time savings for advisors who are often bogged down by administrative tasks. This frees up invaluable time for advisors, allowing them to focus more on strategic planning and client engagements.
Supporting Growth and Sustainability
An essential aspect of LinePoint Partners’ model is its emphasis on transparency and operational expertise. The firm encourages advisors to leverage its sophisticated infrastructure to offer higher quality services to their clients. By providing comprehensive back-office support, LinePoint ensures that advisors can concentrate on their core responsibilities without worrying about the operational intricacies of running a family office. This dual focus on support and autonomy enables advisors to scale their operations sustainably.
The firm also places significant importance on sustainability and long-term client relationships. Unlike traditional wealth management institutions that prioritize rapid growth, LinePoint’s strategy is rooted in establishing strong, lasting partnerships with both clients and advisors. This approach not only fosters trust but also ensures that the services provided remain aligned with the clients’ evolving needs. By focusing on sustainable growth, LinePoint is making a compelling case for its innovative approach to family office management.
Five Eleven Partners’ Integrated Wealth Experience
Comprehensive Wealth Management
Five Eleven Partners, founded by Andrew Crofton and Scott Essex, is taking a different yet equally impactful approach to the family office model. The firm offers an integrated wealth management experience that encompasses investment advisory, tax, and estate planning, alongside concierge-style family office administration. With Chief Investment Officer Gil Calderon overseeing investments and Chief Wealth Strategist Keith Feinberg leading wealth planning, Five Eleven establishes a comprehensive and holistic service model that caters to all aspects of wealth management.
This integrated approach stands in stark contrast to the trend of firm growth through mergers and acquisitions. By resisting the pressures of rapid corporate expansion, Five Eleven maintains a client-centric philosophy that prioritizes personalized service. The firm’s commitment to intimate client relationships and bespoke service offerings is evident in its strategic decisions. By growing intentionally alongside select families, Five Eleven ensures every client’s unique needs and preferences are met with the utmost attention and care.
Personalized and Client-Centric Service
The founders of Five Eleven Partners are particularly keen on delivering a boutique experience that is tailored to individual client needs. This level of personalization and closely-knitted service is something that larger firms, with their focus on scale and efficiency, often fail to offer. Five Eleven’s model is built on the premise that slower, more deliberate growth allows for deeper client relationships and more effective wealth strategies. The firm’s dedication to each client’s specific goals manifests in its tailored financial plans and proactive service model.
Moreover, this client-centric approach is reinforced through regular, transparent communication and an unwavering commitment to providing exceptional service. By avoiding the pitfalls of rapid, merger-driven expansion, Five Eleven can focus on delivering value-adding services that address the holistic needs of its clients. From tax efficiency and estate planning to day-to-day family office management, the firm prides itself on being a one-stop solution for ultra-high-net-worth individuals seeking comprehensive and individualized financial management.
A Balanced Approach in Wealth Management
Meeting Evolving Client Needs
Both LinePoint Partners and Five Eleven Partners are addressing critical gaps in traditional wealth management by offering solutions that are more aligned with the evolving needs of ultra-high-net-worth clients. LinePoint’s emphasis on transparency, control, and operational efficiency, combined with Five Eleven’s integrated and personalized services, reflects broader industry trends. Clients today are demanding more tailored services that prioritize their unique circumstances over the generalized solutions offered by many traditional firms.
This shift towards a more client-focused approach indicates a deeper transformation within the wealth management sector. Clients are not just looking for advisors; they are seeking partners who understand their goals, values, and aspirations. Both LinePoint and Five Eleven are effectively responding to this demand by rethinking and redesigning the family office experience, making it more adaptable, efficient, and client-oriented. This blend of innovation and personal touch is what sets these firms apart in a highly competitive market.
The Future of Family Office Services
In the ever-changing world of wealth management, two firms based in New York have made significant strides by venturing into the family office sector with innovative strategies that cater to the distinct needs of ultra-high-net-worth clients. As competition within the industry intensifies, there is an unprecedented demand for customized, effective, and transparent services. This article explores how LinePoint Partners and Five Eleven Partners are transforming the family office model, bringing unique services to both clients and advisors. Their approach seeks to set new standards by integrating personalized solutions with the highest degree of efficiency and transparency, ultimately redefining industry expectations and practices. These firms underscore the importance of adapting to clients’ individual circumstances, ensuring that each family’s wealth is managed to match their specific goals and values. In doing so, they hope to create enduring relationships and offer a level of service that stands out in an increasingly crowded and competitive market.
