A new firm called the Family Office Resource Group (FORG) has launched to help wealth management professionals and firms attract and retain ultra-high-net-worth (UHNW) clients. FORG offers various services that RIAs typically lack, such as outsourced CFO and accounting services, business legacy planning, concierge services, family governance, and cybersecurity support. FORG CEO Brian Weiner said these services are essential as trillions of dollars are set to transfer to the next generation over the next decade.
“Our industry needs a different approach,” Weiner said. Wealth management service professionals, attorneys, financial advisors, and CPAs need and want to flip the script. And to do so requires additional resources and expertise.”
Weiner said FORG aims to reach advisors and firms managing clients with significant assets.
While these firms may offer some essential services for UHNW planning, they often lack the specialized expertise and infrastructure to deliver a comprehensive solution. FORG’s products are white-labeled, enabling advisors to present the services as their own. Weiner argued that firms and advisors working with UHNW clientele need these services to stay competitive.
“If they don’t differentiate and strengthen their relationships with their clients through their service offerings, they risk losing those clients to other firms,” he said. Weiner brings 25 years of experience in family office consulting and financial services.
Helping RIAs serve UHNW clients
The FORG leadership team includes 20 executives and has offices in several major U.S. cities. Daniel Bryant, executive chairman of FORG, echoed Weiner’s sentiments. He highlighted that UHNW investors often have needs that go beyond traditional RIA services.
Up until now, many advisors didn’t have the resources, time, or expertise to address such priorities, leaving an opening for wirehouse-based private banks and independent family offices,” Bryant said. FORG’s solution delivers a “turnkey suite of scalable services” that allows wealth management professionals to deepen their existing capabilities and resources. The platform is well-suited for wealth managers working with successful individuals, family businesses, and families looking to access value-added services.
“Ultra-high-net-worth clients expect a high level of service and face unique challenges, but experts with the vast experience and skills to satisfy this unique demographic are few and far between,” said Weiner. FORG aims to fill this void in the marketplace. Private equity firm 4100FS is backing the company with an investment of an undisclosed amount.
As part of its core offerings, FORG will perform due diligence on unique investment opportunities that cater to UHNW investors, including a variety of alternative products. FORG will disrupt the wealth management industry by empowering wealth management professionals and service providers with solutions that differentiate their practices and allow them to deliver a first-class experience to clients,” Weiner said. Bryant, who is a principal at 4100FS and previously founded and led Sheridan Road Financial, said, “In a nod to our firm’s name, we are seeking to forge close collaborations with firms and advisors to help them deliver the type of comprehensive solutions ultra-high-net-worth clients don’t just want but demand.”
