The Trusted Circle of Wagons

The suite of professionals, or what Bruce likes to call them, The Circle of Wagons.

The Circle of Wagons Definition: to gather a group of people together to protect them from being attacked.

Back in the day of wagons, animals and Indians, they moved wagons during the day in single file. When night approached, they formed a circle to provide cover from attack. Other research also suggests it was to control their livestock rather than for defensive purposes.

But how does this relate to the suite of professionals and Family Office?

They’re an essential group that works together. And in this case, to ensure the Family Office is as strong, compliant, and supportive as possible while keeping the family’s best interests at heart. Think of them like Death and Taxes – they’re inevitable, and the circle of wagons is there to protect what’s important and keep the family’s values at the core. Let’s redefine it as: To gather a group of people who unite for a common purpose.

From what I’ve learned throughout my experience, I think it’s important for us to work together without fear of ownership of the client or what role we play. It’s great to have access to specialist knowledge when we need it, and it’s great to have someone else hold us accountable besides ourselves or our family values. In this circle of trusted wagons, we can retain and build a history that goes beyond just the present moment.

In the Family Office, it’s important to have a clear understanding of who and why things were done in the past. This helps us gain a deeper understanding and knowledge of how your family has accumulated its wealth and what the future should look like. I believe that having a trusted circle of wagons is key to success. By “trusted,” I mean that the individuals in your circle should be reliable and trustworthy, either trusted by your family or have established trusted relationships with the professionals already being used. When you have a trusted circle of wagons, you create a safe space to find cooperative solutions that benefit the whole family. It’s important to know each member of the circle and have confidence that each member has the other’s back. In short, trust is essential not only between the family and each advisor but also within the circle between each advisor and each other.

Understanding the value of everyone in the trusted circle is incredibly important for the success and prosperity of the family for generations to come. We love working with teams of people who we trust and respect. The Family Office helps with all the services and professionals needed, ensuring great collaboration towards the goals and purposes of The Family Office. This way, our clients can look at the big picture and have more time to pursue their passions and interests outside of the administrative and operational tasks.

If you need to talk to someone about Family Office, please contact me.