Virtual Family Office

The Eureka Chairman Office assists families and fiduciaries in overcoming the stewardship challenges of establishing a virtual family office. A Virtual Family Office (VFO) is a collaborative team of professionals who work together to provide a comprehensive wealth management experience, supported by well-defined governance, structure, and processes. The Eureka Chairman Office has countless years of experience working closely with clients' trusted advisors to build these virtual teams. In this context, "virtual" means that advisory roles are coordinated across multiple firms by dedicated professionals.

The size and structure of a virtual family office can vary based on individual opinions. However, based on our experience, we have found that the VFO model is most effective for estates ranging from USD 20 million to 250 million. There are several advantages to this model. It allows for outsourcing of specialized staff and dedicated partners, who can be called upon as needed, minimizing monthly overhead costs while maintaining necessary resources for the family.

Another advantage is what we refer to as the compound strategy effect. Many single family offices can become isolated and biased without exposure to external perspectives. Advisors may become complacent. In contrast, a VFO team that serves multiple families benefits from shared strategies and ideas. Solutions developed for one family can be applied and shared with others in similar situations, leveraging a broader pool of strategies. The Eureka Chairman Office can assist in structuring and implementing this process using modern technology and transparent pricing.

... a VFO team that serves multiple families benefits from shared strategies and ideas. Solutions developed for one family can be applied and shared with others in similar situations, leveraging a broader pool of strategies.

In summary, a Virtual Family Office encompasses a family's existing network of professional advisors. The success of a VFO largely depends on the team's commitment to shared values and disciplines, such as transparency, collaboration, communication, authenticity, humility, and accountability. The Eureka Chairman Office is uniquely positioned to offer a value-driven strategy to families and fiduciaries who prioritize unbiased guidance.

Here's what we expect from ourselves:

1. We collaborate closely with your trusted advisors to build the virtual family office team.
   
   
2. Our team has a proven track record and the necessary resources and experience to provide objective advice in constructing these teams.
   
   
3. We are impartial when it comes to selecting, interviewing, and hiring outside professionals.