Meristem has the privilege of serving families in more than 20 states and in multiple countries. Wherever your life takes you or your family we will strive to be there with the resources you need to keep your financial life running smoothly.
Our clients have placed in excess of $2 billion in assets under our supervision.
Our conversation begins with you and your story. We then assist you in envisioning how your family will find the appropriate relationship with Meristem. We consider each family unique, however, many share similar fact patterns and service needs.
You may recognize similarities to your family situation in the scenarios below.
We’ve built our wealth beyond what we care to manage alone.
This scenario finds individuals or couples in midlife with substantial and growing privately held business assets or real estate. This situation may also describe a public company executive with concentrated wealth from options and restricted stock. They realize their wealth is substantial and that they lack a clear plan for liquidity, investing and a growing need for sophisticated estate planning.
It is typical at this stage of wealth for this individual or couple to have significant demands on their time from business, family and community involvement. They want and desire a relationship to help them with an efficient process to advise, educate and serve their family. Coordinating their advice model and establishing the right team of advice partners is going to shift the planning burden away from them to Meristem. We create a process for them which gives them peace of mind.
We have had a recent milestone in our lives which requires a new level of advice.
This scenario often finds Meristem involved with a family which has had a recent major life event. It may be financial, such as the sale of the family business or a departure from corporate life. The milestone may be more personal in nature such as an inheritance, a change in health or the results of a divorce. The assets are often very substantial and for many the first opportunity to have really meaningful liquid assets to invest and plan around.
It is often typical during these milestones to find the family seeking to add to their advice team or to substantially elevate the role of the family wealth manager. They are looking for experienced partners to help them understand and execute on the possibilities and responsibilities their new set of facts demands of them. The investment portfolio often takes on new meaning and roles as it shifts from concentration to diversification while providing both growth and income. Forecasting future income streams and balance sheet growth takes on new meaning.
It is not unusual to see the balance sheet become more complexwith new residential real estate and a host of liquid and illiquid investments. This lends itself to additional resources spent on risk management, monitoring and reporting on assets. Tax advice and compliance may change significantly during and after these life events.
The family often has adult children and grandchildren who may now factor into more gift and estate planning discussions. Family education and communication become more important than ever before. Finally, the attainment of certain financial milestones often leads to an increased level of philanthropy and the need for more advice and administration.
We desire to share our legacy with our family and the community.
This scenario is often the culmination of a lifetime of achievement both personally and financially. We often find our clients in this place in their lives. While they remain desirous of future prosperity they also have turned an eye towards the preservation of assets for future generations.
The individual or family in this scenario now has an added focus on developing the future generation of family members. Educational funding, gifts to trust and wealth transfer become critical to tax efficiently, passing assets and values onto the next generation. Preparing family members for gifts and assets placed in trust requires a new level of communication and education. It is often at this stage of the relationship when adult children seek more independent professional advice of their own from Meristem.
A lifetime of community involvement, passion for the arts or education, and a desire to give back often lead to a step up in committed charitable giving while alive or upon death. Families explore private foundations, donor advised funds, and other charitable planning techniques to accomplish their objectives.
Family meetings continue to play a significant role as the patriarchs share their values and important topics such as health care directives, estate plans and charitable intent. Meristem often assumes more day to day involvement with these clients in managing the administrative details in their financial lives, freeing the family to enjoy other pursuits. Families at this point view creating succession within the family and their wealth as critical.