An Overview of Vogel Consulting’s Customized Reporting Service

Vogel Consulting has been multi-family office designed to serve multiple families from the outset, as opposed to the familiar pattern of a single family office opening its doors to other families. Vogel Consulting has over 20 years of experience managing nearly $3 billion in assets and providing outstanding services including private investment, taxation and accounting, estate planning, and customized reporting.

Vogel Consulting’s customized reporting service comprises consolidated investment reporting, tax reporting, and estate diagrams. The company delivers electronic or paper reports on a monthly or quarterly basis to families. The reports are available in a graphic format for a more concise and interactive presentation or a narrative form for detailed reading.

With consolidated investment reporting, families can compare their portfolio performance with weighted benchmarks in the industry. The reporting also includes family asset allocation information that provides insight into the family’s portfolio in terms of growth, protection, inflation, and liquidity.

The firm's ability to provide accurate tax estimates is one of the reasons why Vogel Consulting is ahead of the curve. Anticipating taxable income and scheduling tax payments is necessary for a family that owns several businesses and manage diverse assets. Tax reporting helps the family fulfill its regulatory responsibilities and control cash flow at the same time.

The estate diagrams integrate personal financial statements to provide a complete representation of the family’s estate. Estate diagrams give family members the opportunity to monitor how their assets shift in value as markets change and strategically transfer assets when necessary.

The Significance of Multi-Family Office in Estate Planning

Vogel Consulting is a successful, multi-family office that specializes in cash flow and lifestyle management, customized reporting, and financial planning. Vogel Consulting offers advanced estate planning services, which include customized estate diagrams, gifting guidelines, charitable records administration, and foundation establishment.

Estate planning requires a tremendous amount of work by professionals who understand their role individually and holistically. Instead of hiring a separate accountant, attorney, business consultant, and an insurance agent, a high-net-worth individual or family can avoid all the bureaucracy involved in the estate planning process by going with a multi-family office. 

From drafting estate documents to calculating estate taxes and creating a financial model, working with a multi-family office that provides end-to-end estate planning services is a better choice compared to individual specialists. The wealth advisors from a multi-family office have the advantage of customizing an estate diagram that takes into account the family’s history, assets, financial capacity, and investments. They are also in an ideal position to communicate the estate beneficiary designations during family meetings.

A Summary of Quarter 2 of 2018

For over two decades Vogel Consulting has been offering wealth management services to family offices across the country. Recently, Vogel Consulting published a report discussing the market’s performance in the second quarter of 2018. Here are a few details:

-Equities
US equity indices were high at the close of the quarter despite suffering a few tumbles along the way. NASDAQ hit record highs, so did the Russell 2000 index. These gains were attributed to the good performance of tech and small cap stocks. 

Across the Atlantic, European equity markets were weak and Japanese markets exhibited the same softness seen in the first quarter. Emerging market equities were down during the period, hurt by trade tensions and a strong dollar.

-Fixed income
Bond returns in the United States were negative because of rising yields born from the anticipation of a tighter monetary policy. 

-Monetary policy
The US Federal Reserve raised interest rates 0.25 percent. The Fed forecasted further rate hikes in the future. In Europe, the European Central Bank stated it would stop buying bonds by year-end. 

-Overall economy
The US economy showed positive growth buoyed by the well-performing service and manufacturing sectors, and an improving labor market. Retail sales and housing starts remained up.

Considerations for Multigenerational Wealth Planning

Wealth management firm Vogel Consulting provides reliable financial planning advice backed by nearly 25 years of experience. Recognized for its estate and tax planning services by Family Office Review Magazine, Vogel Consulting caters to multigenerational families seeking to protect their assets and navigate wealth transfers.

High-net-worth families often have complex financial planning needs when making decisions regarding generational wealth transfer. Under the guidance of an experienced, knowledgeable wealth manager, individuals can consider several asset transfer options that reduce tax burdens and streamline the decision-making process. 

For example, life insurance policies and various types of trusts are proven ways to maintain asset value throughout the wealth transfer process.

In order to make sound financial decisions, it is crucial that the family identifies its predominant values and financial goals. For example, families that prioritize education can work with financial advisors to set up multigenerational college funds or an endowment gift to a university that has contributed to the family’s legacy. 

Every generation brings more family members into consideration. Financial advisors can help larger families establish an appropriate governance model. In some families, assets may be divided into subsets managed by different family branches. Families also may opt to create a council led by older members who are tasked with decision-making.

Estate Plans Should Be Monitored and Reviewed Periodically

For nearly 25 years, Vogel Consulting has offered wealth management solutions to clients across the United States. Vogel Consulting leverages unique service platforms to offer value in the areas of business accounting, investment consulting, and estate planning and monitoring.

Once drafted, an estate plan should be monitored and reviewed to keep it up to date with changes in either the client’s financial position or the environment, both of which can affect the outcome of the plan.

When reviewing an estate plan, considerations include changes in the number of beneficiaries, the capacity of the beneficiaries to handle an inheritance, and changes in values of the client’s assets. Other important considerations involve changes in the capacity of designated trustees to carry out their duties and new estate tax laws that will affect the estate’s overall tax liability.

Here is an example to put things into perspective: Juliet created an estate plan with her financial planner in 2015, in which she bequeathed 50 percent of her estate to her children and the rest to her foundation. Over the course of her life, her personal assets will either increase or decrease in value. Either shift will affect the outcome of final disbursements. She will want to review the plan periodically to balance the disbursements to beneficiaries.

What if a beneficiary passes on or the foundation loses a major donor, and hence needs more funding? Both of these will prompt a review of the estate plan to determine if it will still create the desired outcome, which is to ensure the financial security of both her children and the foundation.

Overall, there are several occurrences that can alter Juliet’s financial position or affect the capacity of her beneficiaries. This is why a periodic review of her estate plan is necessary.

Introduction to Vogel Consulting