On a daily basis we speak with professionals who work with clients who are seeking an extra helping hand when it comes to organising their finances. Often it is where an individual’s spouse has taken care of the finances and life admin and then the spouse becomes unable to continue to undertake this role, whether it be because of dementia, death, divorce or just an inability due to old age.
Family offices are traditionally investment-led, private wealth management advisory firms that assist ultra-high-net-worth individuals and families. They differ from pure wealth management firms in that they offer a holistic service to manage “the business” of the individual or family.
This week we have had the joy in celebrating our first birthday. This is a very exciting time for us at Otium Partners as we have achieved a lot and have a lot more to achieve. We have worked extremely hard over the past 12 months building a business that has the mission to save our clients time, the one thing you cannot create more of.
Families are being urged to consider the financial impact of their loved ones being diagnosed with dementia.
According to the charity Alzheimer’s Society, about 850,000 people in Britain have the condition, with a new diagnosis made every three minutes. This can obviously have a massive effect on a person’s finances and their ability to deal with these effectively.
One thing that we’ve found extremely interesting when researching and launching the lifestyle management (also known as concierge) arm of our business is how much society’s attitude has changed to the DIY approach.
The term ‘Debt Advisory’ is used by a variety of professionals and businesses, however many individuals still don’t really know what it is. This is because each profession tends to take a different stance on its’ definition of Debt Advisory as a service.
Starting a new year usually means a time for resolutions. Resolutions that we don’t always all stick to.
This year, why not start the new year thinking about your work-life-balance. After all the cherished memories and time spent with loved ones over the festive period, there is no time like the present to reflect on your priorities and decide if the value of time is more important to you than material goods.
The saying “You can’t buy happiness” is frequently thrown around, as if it’s the impossible. However, according to a study by the Harvard Business School, this is not exactly true. A group of researchers have found that paying for services that save time, can bring greater feelings of life satisfaction than buying material goods.