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CHICAGO, July 11, 2019 (GLOBE NEWSWIRE) -- Bespoke: The Private Family Advocate announced today that it is now offering private families and private family offices the Bespoke Second Look, which offers an objective second opinion of how well a private family is being served. In many cases, while well-intentioned, a family has simply out-grown its advisor and needs a change, just like the family and its needs have changed.
Bespoke Second Look is designed to help ensure that all aspects of a family’s requirements have been adequately addressed before they make the major decision to move or upgrade their relationship. Bespoke conducts a 12-point review that covers all aspects of family wealth, from investments, security, family governance, health advocacy, private travel, technology, and more.
WHY A SECOND LOOK MAKES SENSE
“This is likely one of the most critical life decisions you and your family will make - one that directly affects your livelihood for decades if not generations to come,” says Thomas R. Livergood, founder of Bespoke. “Taking an objective look at your current or proposed situation regarding an organization who is to be entrusted as your family wealth advisor only makes sense.”
According to the 2018 U.S Trust Insights on Wealth and Worth study, “only 16% of ultra-high-net worth households surveyed are effectively utilizing the services of their financial advisor.” Furthermore, that same study indicates that “fewer than half of the wealthy have clearly identified a purpose for the use of their wealth or taken deliberate steps to use wealth as intended.” This closely corresponds with a metrics supplied by Alliance Research, which indicates that only 1 in 7 families with a net worth in excess of $30 million is currently being served by a family wealth firm.
WHO WE ARE
Private families entrust Bespoke to be their advocate in finding a best-fit match of top-tier family wealth firms. We are the only national resource whose sole business is to unite families with best-in-class firms, drawing from an innovative, unsurpassed process and a suite of pre-vetted organizations. Bespoke empowers families with education, choices, time savings, and peace of mind. Bespoke’s only source of revenue is from its private family clients. Therefore, there is no financial consideration paid to Bespoke from any other source.
ABOUT OUR FOUNDER & OUR ROOTS
Bespoke was first announced in 2016 by Thomas R. Livergood, who also founded The Family Wealth Alliance. The Alliance is considered one of the most authoritative, independent research and consulting firms in the family wealth industry today. The knowledge base and processes now used by Bespoke evolved from 25 ground-breaking studies conducted by Alliance Research, which has chronicled best-in-class firms via the firm’s inquiry and consulting – all of which commenced over 16 years ago. In 2005, The Alliance released the first-ever Multifamily Office Standards, which stands today as the industry benchmark.
A 35+ year veteran of the financial services industry, Tom was raised in a third-generation family business that was founded in 1937 and sold in the 1970’s. He began his career with involvement in the creation of the practice and standards of financial planning in the 1980’s as a founding member of the national Board of Directors of the Financial Planning Association. In the 1990’s as a private banker at the Harris Trust & Savings Bank, he saw what his own family went through via a number of M&A transactions, which led to many forming their family offices. More recently, he has served the family office and family wealth industry, first at Family Office Exchange in the early 2000’s before founding The Alliance in 2003.
FIND OUT MORE ABOUT BESPOKE
We invite you to visit our website: www.BespokeAdvocate.com. This just-released version includes several updated resources: Our Self-Assessment Tool, which gives one a real-time score in measuring a family member’s Readiness and Suitability for Bespoke. Our new site also includes three complimentary, educational videos produced by our founder, and we share five case studies of families who have utilized the objective services of Bespoke.
YOUR FAMILY DESERVES THE BEST
For family members and trusted advisors who work with them, we invite you to contact us at info@BespokeAdvocate.com to find out more about the Bespoke Second Look.
Contact: Kati Jendraszak, Chief of Staff