Six Levels of Wealth
Regardless of whether your net worth is $1 million or $100 million, you can’t manage your wealth alone. If you’re serious about making money and keeping it … both during your lifetime and for generations to come … then our program is right for you.
Founding attorney Paul Deloughery has worked with affluent individuals and multi-generational families since 2004. Over that time, he has seen patterns in the particular needs that people have, depending on their level of wealth. That’s why we’ve designed our program based on the following six levels of wealth that families must progress through. This allows us to help you need now and guide you to the next level.
Structuring our program this way allows us to provide you with the solutions you need based on your particular challenges and concerns. It also allows us to surround you with other people in similar situations so you can feel supported and learn from one another.
Keep reading to identify which level you are at.
SFO
$100 million +
At this level of wealth, it begins to be financially viable for a family to bring the management of the family’s wealth in house. This is called a Single-Family Office (SFO). The family office invests the family’s money, manages all of the family’s assets, and disburses payments to family members as required. The SFO may also provide personal services such as managing household staff and making travel arrangements.
Other services typically handled by the SFO include property management, day-to-day accounting and payroll activities, and management of legal affairs. Family Offices often provide family management services, which includes family governance, financial and investment education, philanthropy coordination, and succession planning.
MFO
$50 million - $100 million
At $50 million of investable assets, a family qualifies for Multi-Family Office services.
A multi-family office (MFO) is an independent organization that supports multiple families to manage their entire wealth. Multi-family offices typically provide the same services as an SFO. However, the MFO is less expensive to a family than having an SFO because many families (perhaps up to 50) are sharing the cost of the services.
Some multi-family offices offer personal services such as managing household staff and making travel arrangements. Because the customized services offered by a multi-family office can be costly, clients of a multi-family office typically have a net worth in excess of $50 million.
A multi-family office (MFO) is a commercial enterprise established to meet the investment, estate planning and, in some cases, the lifestyle and tax service needs of affluent families.
Lean MFO
$30 million - $50 million
At $30 million in net worth, a family qualifies for MFOs that offer less robust service than is offered with $50 million in net worth. Payroll is the largest expense for an MFO. Services that end up reduced or omitted at this level include coaching the next generations. As a result, families in this category are still very susceptible to the “Shirtsleeves to Shirtsleeves in Three Generations” tendency among financially successful families.
For this reason, we offer supplemental coaching and other resources for these families.
Major issues for families in this category are (1) preparing the heirs to inherit significant wealth, and (2) creating positive and effective procedures for maintaining healthy communication between the generations.
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Preparing
$10 million - $30 million
The majority of families at this level of wealth do not maintain their success beyond two or three generations.
For that reason, our program provides hands on help to prepare the heirs. We also actively help establishing systems and procedures of communication for the family. Informal communication is not predictable. With proper outside support, a family in this wealth bracket can greatly increase its likelihood of long-term success.
That’s why you will be assigned a Chief Executive Officer, a Chief Operating Officer and a Chief Investment Officer and/or Chief Financial Officer. The Chief Investment Officer’s role is largely risk management, but also helping keep you on course with your investments. The Chief Financial Officer watches the numbers and keeps you and your family financially on course.
The quality of your decisions is proportional to your ability to hold conflicting ideas in your brain at the same time. And your team of advisors will help you be aware of all the risks and opportunities that no single person can see alone.
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Building
$5 million - $10 million
At this level, a person feels psychologically a little more secure. You’ve made your first million. You kept it. And you’ve grown it.
But here’s the thing. If you thought there wasn’t much to help you get to $5 million, you’re really left to fend for yourself now. The “secret” to continuing to grow financially is to treat your family like a business.
That’s why at this stage, we assign both a Chief Executive Officer and Chief Operating Officer to you. The Chief Executive Officer helps you set your goals, create a plan for reaching those goals, and holds you accountable. He or she is more “high level” and can help you see the big picture and the next steps.
Your Chief Operating Officer will help you get control of the details. He or she is all about implementing systems and processes that keep you on track to reach your goals, while also making your life easier. The Chief Operating Officer is not afraid to roll up his or her sleeves and get into the details. By joining at this level, you can start to relax and enjoy life knowing that the details are being handled.
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Protecting
$1 million - $5 million
We call this stage “Protecting” because the typical person in this wealth bracket is very concerned about not back-tracking. And it’s perfectly natural to feel that way. After all, there are lots of books and programs and coaches on how to make your first million dollars. But after that, you are left on your own. That could explain why there are roughly 8.3 million millionaires in the U.S. … but only 1.4 million people with a net worth of $5 million or more. In other words, only 17% of people who reach $1 million in net worth then go on to get $5 million.
Think about it. How many books have you seen entitled How to Make It to $5 million? Exactly zero. That’s how many.
And here’s a secret for you: Getting to $5 million and beyond does not require extra intelligence. But it does require that you do things differently than what you are probably doing now. One main difference is to run your family’s finances like a business.
That’s why we assign a Chief Executive Officer to you. You’ll meet with your Chief Executive Officer two or three times per month. He or she will show you the next steps, help you formulate a plan, and hold you accountable for taking action. Plus, we will bring in other professionals as needed to address your specific needs.
You won’t get this kind of assistance from anyone else. Not your accountant. Not your attorney. Not your financial planner. And most likely not your friends and family (unless they are already worth $5 million or more).
Your Chief Executive Officer will also help you avoid many costly mistakes, and most likely will save you money in the long run. For example, there may be a way for you to deduct our fees from your taxes.
Learn how to join the 17% of people who grow their wealth to the next level.
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Helping people just like you navigate the Six Levels of Wealth is why we founded Sudden Wealth Protection Law.
Here’s how we do it:
Request your
Strategy Session
We’ll send you a
detailed plan
Rest assured knowing that your loved one’s wishes were properly carried
To learn more, get the first third of founding attorney Paul Deloughery’s book. His book goes into his struggles with receiving a large inheritance for which he was unprepared.
With our help, you can stop exposing yourself to legal liability for doing things improperly, and instead feel proud of how you helped ensure your loved one’s wishes were carried out.
