Threshold Group launches new wealth management offering designed for private families in the $5-50 million wealth bracketOctober 4, 2012
GIG HARBOR, WA / PHILADELPHIA, PA – After more than a decade of serving large, multi- generation families, Threshold Group is bundling a set of investment advisory and financial planning services specifically for individual families whose wealth ranges from $5 million to $50 million. The new service offering, called Threshold Wealth Management, is designed for private individuals and families who want robust, personalized investment advice and financial planning without the complete array of additional family office services.
Threshold’s wealth management offering is a direct outgrowth of the firm’s broader family office service program. The wealth management service model is based on household-level services often provided as part of a broader family office client relationship. At the core are services that focus on investment advice, financial planning and, in some cases, legacy or succession planning for wealth owners entering a new phase of life. The simplified service offering will not encompass customized office administrative services, bill-paying, family retreats or complex consulting assignments related to family governance, all of which are part of the firm’s family office services.
“This offering focuses on three essentials: investment needs, strategic financial planning for taxable individuals and a deeply dedicated one-on-one advisory relationship,” said Dan Geary, Managing Director and business leader for Threshold Wealth Management. “The depth of the service relationship and our personalized approach will be delivered across all of our client service models. The difference comes down to matching scope of services precisely to a family’s needs and priorities.”
Geary said the new wealth management offering will be “right-sized” for families who have created significant wealth, and yet need something simpler than a full-on family office model.
“Our wealth management service starts with a thorough understanding of the whole client and their hopes, dreams and fears. We listen and seek to understand what keeps them up at night and what they want to accomplish in life and beyond,” said Geary. “We tie this knowledge together with their investment strategy in a “goals-based” approach that tracks success against their plan. Clients want to know if they are on the right track ‒ we help them answer that question.
Threshold’s wealth management clients will benefit from the same rigorous investment research and portfolio management expertise provided to larger, more complex service relationships. “Our manager research and our perspective on the capital markets are equally integral to the advice we provide, regardless of whether a client owns three investment accounts or 35 accounts spread across a dozen entities,” said Geary. “We are scaling our services so that our thinking and our personalized approach is accessible and affordable for both large families and individual households.”
Threshold’s introduction of wealth management services is the third step in the firm’s recent move toward enhanced segmentation of services based on specific client needs. Earlier this year, the firm introduced Threshold Foundation Services, a distinct investment advisory capability designed for private family foundations. This service was introduced last March as a separate offering to serve families who have philanthropic non-profits operating independently from a family’s personal and taxable wealth. A key component of the offering is a dedicated focus to mission-related investing and the ability to align traditional investment strategy with philanthropic mission and social/environmental impact.
Threshold’s original service model, called Family Office Services, remains the centerpiece of the firm’s brand. It provides full-service family office capabilities to multi-generational families who want to enjoy the advantages of pooling service needs and resources across multiple households without the burden of creating and operating their own family office.
“Our goal is to provide one common Threshold service experience based on an intimate understanding of family needs and dynamics, and deliver it in a way that fits the priorities and characteristics of each family client,” said Ed Lazar, President of Threshold Group. “Our services are now segmented to be competitive and accessible across the full family wealth market, and at the core we have a consistent and straight-forward mission of helping families to grow, thrive and make a difference.”
Threshold Group / www.thresholdgroup.com / leads a select yet diverse group of families through the opportunities and challenges of family wealth. Our wealth advisory services provide a solid foundation necessary for a family to grow, thrive, and give back, not just for a lifetime, but for generations. We ask tough, compelling questions to inspire family leaders and their next generation to define and achieve success on their own terms. Along the way, we find that every family provides new chances to learn and grow, and we put each experience to work for our community of clients. Founded as a family office in 1999, Threshold today guides private family investments of $2.7 billion1 and serves a client base of more than 50 families and family foundations across the United States. Threshold employs 38 associates in four offices in Gig Harbor, WA; Philadelphia, PA; Portland, OR; and Seattle, WA. The family-owned firm was founded members of the Russell family, who created Frank Russell Company (now Russell Investments), a global investment leader best known for the Russell stock indices and wide range of independently researched investment products and services. Threshold Group is a Registered Investment Advisor.
1Data based on assets under advisement as of 6/30/2012.