Recently, as our world has gotten more chaotic, time seems nowhere to be found, our families have multiple generations in them and as professionals try to provide added services to their clients - you might have heard of a new type of service called "Family or Lifestyle Management". Even one of the larger financial institutions now has an entire division dedicated to life management.
Typically Family Management irms provide personalized lifestyle solutions to discriminating clients who value their independence. Solutions usually focus on a client's needs in the areas of health, home, property management, daily living administration, coordination of professional services, and if I ever needed - care. Firms form strategic partnerships to provide services they themselves don’t provide directly.
Clients who need these services vary, basically however, for some reason, these clients need assistance managing their daily lives. Examples of clients include:
- Clients who are just plain busy or travel extensively
- Clients in some type of transition
- Clients of professionals in need of less expensive non-professional related planning and services
- Clients with multiple generation families possibly with members advancing in years
- Older clients separated by distance from families or loved ones
- Older individual and couple clients without families
Professional practices, organizations and other businesses secure family management firms for a number of reasons:
Examples of business client who secure family/lifestyle management services:
- Attorneys - Estate Planning and Elder Law Attorneys
- Wealth Managers/Financial Advisors/Certified Financial Planners
- Family Offices
- Medical Practices/Concierge Medical Practices
- Rehabilitation Centers
- Homecare Agencies
- Not-for-Profits/Fundraising-Development Offices
Summary: For clients, family management firms offer one comprehensive resource for all their daily living needs at a very reason monthly rate. For professionals family management firms can be an outsourced or in-house relationship manager. They can orchestrate all aspects of your best client’s needs while protecting the interest of the professional services you provide - at a much more cost-effective rate that allows professionals and organizations to focus on their core services.