"We are fiercely independent"

WEALTH MANAGEMENT & FAMILY OFFICE

Building and Protecting Wealth

Our Wealth Management and Family Office business helps aspiring and high net wealth Clients and their families create and preserve their wealth even through periods of extreme volatility.

 

Our independently owned companies, BMF Asset Management Pty Limited and BMF International Asset Management Pty Limited each hold their own Australian Financial Services License which allows us to provide unfettered advice.

 

We have strong International relationships with some of the world’s major financial institutions which enable us to execute investment strategies globally. In making investment recommendations we align

our interests with those of our Clients by investing first or alongside them.

 

We take a collaborative approach to ensure Clients retain control of their investments and the direction of their overall strategy.

 

Our approach to managing our Clients’ wealth is with a deep sense of diligence, responsibility, conservatism, transparency and caution as we aim to protect and grow our clients’ interests.

 

Our Clients deal mainly at Director level and meet with at least one of our Wealth Management directors on a quarterly basis.

OUR SERVICES

Wealth Management

+ Wealth Preservation and Creation Strategies

These strategies vary depending on whether our clients are in the wealth preservation stage or wealth creation stage. Irrespective, our priority remains to protect your wealth.

Our strategies entail the initial 3 steps for managing your money:

  1. Consultation with you to understand your needs and your financial and personal situation, and to analyse your tolerance for risk.
  2. Preparation of a Statement of Advice containing our recommendations consistent with our understanding from the consultation. Where it is relevant and with your permission, we work with the other business units of the Group, BMF Chartered Accountants and Tax Advisers and BMF Tax Legal to optimize your tax situation and to ensure that we properly address asset protection and estate planning.
  3. Presentation and discussion of the Statement of Advice with you.
+ Execution of investment strategies

Once the strategic direction has been set, we execute and implement our advice which entails the next three steps:

  1. Establishing the necessary structures to hold your investments. Once again, we may work with the other businesses in our Group when implementing the structures.
  2. Purchasing and/or selling Australian and international direct shares, listed and unlisted managed funds, direct and listed property, bonds and cash as proposed in our advice.
  3. Ongoing reviews (at least quarterly, usually more often) which is the most crucial process to ensure that the strategy remains current with your situation, goals and needs. The portfolio is rebalanced to realign with the asset allocation parameters and changing market conditions and to take profits.
+ Asset allocation strategies

Part of our strategic advice which is core to the preservation of our clients’ wealth and management of risk is diversification across asset classes, countries and currencies. Due to our broad capability and experience across the globe, we can diversify our clients’ wealth across the various classes of assets, countries and currencies:

  • Asset classes cover:
    – Maintenance of corporate registers
    – Cash
    – Fixed income securities like bonds, convertibles and “hybrids”
    – Property
    – Equities
    – Managed Funds
  • Countries:
    – We can purchase securities across all asset classes on most   major stock exchanges around the world.
    – We can also invest directly for our clients in unlisted assets in   most well regulated jurisdictions.
  • Currencies:
    – Key to a diversified asset base is a spread of currencies.
    – We purchase for our clients investments that are denominated   in multiple currencies across the asset spectrum.
    – These investments can be held in Australia or overseas.
+ Domestic Private Banking Assistance

Standing independent as your adviser, we are able to open accounts for you with Australia’s major Banks. We can assess which Bank is the most suitable for you in terms of deposit rates, service levels and product offerings. These relationships also enable our clients to participate in new securities issues or listings that are mainly open to Private Banking clients only. They also enable clients to access borrowings for personal or business use.

+ International Private Banking Assistance

We have developed relationships with some of the world’s major international private banks. We ensure compliance at all levels. This enables us and our clients to:

  • Garner research, ideas and innovative financial products around the globe.
  • Operate overseas bank accounts.
  • Have assets held or custodised in highly regulated jurisdictions like Switzerland, the United Kingdom and Singapore.
  • Purchase and sell securities on all major exchanges around the world that are not available in Australia.
+ Treasury services

Since we have relationships and scale with the major Australian banks, we have the knowledge of what the best call and term deposit rates are.

 

Many of our clients outsource the management of their cash to us to ensure that their funds are spread appropriately to manage counter-party risk and placed with the most competitive and strongest institutions.

 

Our advice entails investing for the optimal term which is determined by the client’s need for liquid cash, investment opportunities and our view on future interest rates.

 

All accounts and deposits are held directly in our clients’ entities.

+ Property Investment

We consider property as an important asset class, and therefore source direct residential investment units for our clients as well as directly held (ie. not listed) commercial properties both in Australia and around the world across the industrial, retail and office sectors.

+ Estate planning assistance

Since we develop a detailed and thorough understanding of our clients’ financial and personal affairs, this knowledge and the information that we hold becomes the source for preparing our clients’ wills and estate plans.

 

We often work closely with the Accounting and Tax, and Tax Legal pillars of our Group to ensure that tax is properly considered across all jurisdictions where assets are held. This team approach generates the optimal outcome for the client when the solicitor drafts the will.

+ Asset protection assistance

As with estate planning, we approach the matter of asset protection similarly whereby our clients’ assets are protected against potential future claims arising from their businesses, professions, and potentially estranged family members.

+ Research

We have multiple research sources available both in Australia and around the globe to support our independent recommendations and advice to our clients. Our many counter-party relationships provide us with fresh insights. Our clients, who represent a broad spectrum, are a rich source of “on-the-ground” knowledge into the industries in which they operate.

+ Charitable Foundations

We advise, manage and administer portfolios of charitable foundations to ensure the objectives are met, particularly regarding the need for income to fund the beneficial charities whilst conservatively preserving the capital base.

Family Office

+ Purpose of the Family Office

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.

+ Workings of the Family Office

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. The integration within the BMF Group ensures that structuring, tax, compliance and accounting are always considered when embarking on an investment strategy. 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. 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.