Farther, a leader in intelligent wealth management, has officially launched Farther Family Office (FFO), a specialized service designed for ultra-high-net-worth (UHNW) families. This new offering aims to simplify and enhance the complexities of managing wealth across generations by leveraging advanced technology and a client-centric advisory model.
Key Takeaways
- Farther Family Office (FFO) is a new bespoke offering for ultra-high-net-worth families.
- It utilizes native AI infrastructure to provide seamless, client-focused wealth management.
- Benjamin Seidenstein, formerly of Goldman Sachs, will lead FFO as Global Head.
- FFO emphasizes a fee-only fiduciary approach, prioritizing client interests.
- The service offers comprehensive coordination of a family’s entire financial life.
- It provides access to a broad range of investment opportunities, including niche strategies.
- FFO aims to ensure multi-generational continuity and financial literacy for heirs.
A New Era for Generational Wealth Management
Farther Family Office is built from the ground up to address the intricate needs of families with substantial, multi-generational wealth. Unlike traditional institutions that often integrate technology as an afterthought, FFO’s foundation is built on native AI, designed to eliminate the friction points commonly associated with wealth management. This approach ensures that services are delivered efficiently and purely in the best interests of the clients.
Leadership and Vision
Leading this new venture is Benjamin Seidenstein, CFA, who joins as Global Head of FFO. Seidenstein brings a wealth of experience from his tenure at Goldman Sachs, where he managed over $1.5 billion in client assets and established a rapidly growing private wealth practice. "Private banking is overdue for a new model – one centered around the clients’ needs, not the institution’s," stated Seidenstein. "Farther Family Office meets that need by combining a technology-first foundation with a bespoke advisory model to deliver truly customized solutions and elite service for generational wealth management."
Comprehensive Services Offered
FFO provides UHNW families with the benefits of a dedicated family office without the associated operational burdens. Key features of the service include:
- Uncompromised Client Service: As a fee-only fiduciary, FFO operates without product allegiances or institutional bureaucracy, focusing solely on delivering the optimal solutions for each client.
- Whole-Life Wealth Coordination: FFO acts as a single point of contact, coordinating investments, tax, estate planning, lending, and other financial aspects of a family’s life, proactively addressing needs.
- Open Architecture Investment Access: Clients gain access to a diverse investment universe, including specialized strategies and alternative investments tailored to their unique goals and values.
- Multi-Generational Continuity: Leveraging Farther’s Intelligent Wealth Platform, FFO offers a unified view of a family’s financial picture across generations, equipping future heirs with the knowledge and tools to manage their inheritance.
Strategic Positioning in South Florida
South Florida, particularly Miami, has become a significant hub for UHNW individuals and families, driven by wealth migration from other major financial centers. Farther Family Office is strategically positioned to serve this growing demographic. While FFO serves clients nationwide, Benjamin Seidenstein’s base in Miami places the firm at the heart of this dynamic financial landscape. Taylor Matthews, CEO and Co-Founder of Farther, commented, "The most successful families in the world deserve a wealth management experience as sophisticated as their financial lives. Ben is one of the most respected advisors in the industry, and together we’re building something that’s never existed before: a true family office experience, powered by Farther’s Intelligent Wealth Platform."
Founded in 2019, Farther currently manages over $15 billion in assets and supports advisors across the country, recognized for its high advisor satisfaction rates.