The Family Office provides a complete, seamless and integrated financial service for high net wealth Clients who ask the questions: “Who is going to manage my financial affairs when I am no longer involved?” “How do I educate and prepare the next generation?” “How do I protect and grow my capital for generations to come?” The successful transfer of wealth across generations and the prudent ongoing management thereof is a major issue facing many families in Australia and internationally. Our Family Office services are most beneficial for Clients with investable assets of $10m or more.
Family Office Operations
To ensure that the interests of the Family on an inter-generational basis are taken care of, we obtain a thorough understanding of the family as a whole and its individual members. We focus on family involvement, education and guidance by assisting with the decision making of the next generation who will inherit by sharing our specialized wealth knowledge. The BMF Family Office becomes the Client’s financial centre of excellence providing the management, administration, reporting, advice, education and compliance for their wealth – completely and seamlessly. Some of our families are self-directed in their investment decisions while others are advised by BMF. All Clients are allocated an Executive Director with whom a long-standing, trusting relationship is developed and nurtured over the years. Clients have a secondary relationship with at least one other director as a support to the relationship. The benefits for our Clients are trust, commitment, continuity, economies of scale, efficiencies, expertise, experience, execution and dedication.
Reporting and administration
Since we act as the family’s financial office, we therefore act as the “custodian” of the assets of the family thereby keeping everything within one centre. (NB: Assets are always held directly by our clients). We administer the portfolio across all aspects from completing paperwork to making daily payments. The principal client remains involved and approves all transactions. Our reporting system enables us to generate detailed reports showing the listing of all assets, asset allocation, transactions and performance. We report to the Family or to the Family Principal as often as they need or wish.
Key Client Contacts Within Wealth Management & Family Office
Barry Mendel is the Founder and Executive Chairman of BMF Wealth and associated companies. He is highly respected as a business, taxation and strategic advisor and has acted on behalf of prominent individuals and companies, both locally and internationally. He is a Member of the Institute of Chartered Accountants in Australia and is also a registered CPA.
Barry has considerable expertise and experience in Corporate Structuring, Taxation and Valuation Methodologies, as well as Litigation Support. He specializes in Asset Management and Wealth Creation Strategies and is qualified in ASIC’s prescribed training for Financial Planning Professionals.
Jill is the CEO of BMF Asset Management and BMF International Asset Management. She brings over 35 years’ experience in running Family Offices including global wealth management, financial structuring, portfolio administration and reporting, succession and estate planning. Jill heads up the Wealth Management, Family Office and Succession Planning and brings an in-depth knowledge of Local and International investments to our Clients’ portfolios. Jill is a member of the Institute of Chartered Accountants in Australia, a Member of the Australian Institute of Company Directors and a Justice of the Peace.
Justin specialises in providing in-depth financial analysis and research across all asset classes and global markets. He has 14 years of experience advising institutional, ultra-high and high net worth clients in Geneva, London, Los Angeles, Singapore and Sydney. Justin assists with managing our ultra high net worth client portfolios from a global perspective. Justin is fluent in French. Justin is a CFA® charterholder and is qualified in financial planning training as prescribed by ASIC.
Brad specialises in global portfolio management, investment analysis and family office services. He joined the BMF Wealth team in 2011 for two years before embarking to New York. Brad spent 3 years in New York where he worked as a Private Wealth Advisor with Morgan Stanley Private Wealth Management’s ‘Team Global’. Prior to his start at BMF, he was at PwC in their Private Clients Tax team serving High Net Worth families. Brad has a Bachelor of Commerce from UNSW and is a member of the Institute of Chartered Accountants Australia. He is qualified with ASIC’s prescribed training for Financial Planning Professionals in Australia.