Does a PWFO provide Financial Advice?
A PWFO will give financial advice to clients so they can make decisions around money matters, and personal finances.
A Private Wealth and Family Officer is not an investment manager and does not make investment decisions. Appointed and paid by the client on a retainer basis, Private Wealth and Family Officers are responsible for financial strategic planning.
They select, validate, and monitor banks, asset managers, and other service providers to ensure that the client’s objectives are achieved, but more importantly, they never make investment decisions.
A Private Wealth and Family Office Practitioner assists clients in all the latter’s wealth matters from an accounting, controlling, and risk management perspective. He does this in a systematic and organized manner. He will document, note, and account for each decision.
The mission of the PWFO Association is to become:
To become the standard-bearer for the creation and protection of wealth for all private citizens and families.
Through our courses, you will learn why investment managers must be controlled independently by PWFO.