The Legacy Forum™ 's Radical New Era of The Family People Office™
The Impact of The Family People Office™ (FPO™) on Wealth Management
The Launch of The Family People Office™: A Transformative Moment
The introduction of The Family People Office™ (FPO™) by The Legacy Forum™ marks a pivotal turning point in the evolution of Wealth Management and Family Office services. This groundbreaking initiative is fundamentally reshaping the industry, bringing about a radical redefinition of what it means to manage and preserve family wealth. In an era often characterized by the use of bold language, the FPO™ truly embodies terms such as “cutting-edge” and “disruptive paradigm,” signifying a shift whose time has indisputably arrived—particularly as The Great Wealth Transfer comes into focus.
The Great Wealth Transfer: A Defining Context
The Great Wealth Transfer, estimated at an astonishing $124 trillion, is poised to unfold over the next two decades. This significant transition will see wealth moving from the Baby Boomer generation to the Next Generations, with $16 trillion specifically being transferred to Ultra-High-Net-Worth (UHNW) individuals and families. The scale and speed of this transfer represent an unprecedented moment in the history of Wealth, demanding innovative strategies and structures to navigate the complexities involved.
A New Era of Wealth Management
This monumental shift is already underway, signaling profound changes in how wealth is protected, invested, deployed, and philanthropic endeavors are approached. The introduction of the Family People Office™ (FPO™) is both timely and necessary, as it responds directly to the evolving needs of families during this period of massive transformation. By placing people at the center of the wealth management equation, The Legacy Forum™ is setting a new standard for the industry and guiding families toward long-term success in an ever-changing financial landscape.
The Modern Era of The Family Office Began in 1882
A Brief History of Family Offices
The Family Office concept has changed significantly. J.D. Rockefeller started the modern Single-Family Office in 1882, soon followed by families like the Carnegies and Vanderbilts. These offices focused on legal, accounting, and investment services to maintain family wealth. In the 1970s, Private Banks launched Multi-Family Offices (MFOs), letting several families access professional management while meeting individual needs. By the 1990s, new technology led to Virtual Family Offices (VFOs) and Outsourced Family Offices (OFOs), offering flexible services for different wealth levels and making family office expertise more widely available.
A New Era: The Legacy Forum™ Model
In 2025, The Legacy Forum™ introduced a groundbreaking approach to family wealth management with the launch of a proprietary and innovative model. The Family 'FINANCIAL' Office™ (FFO™) was established to specifically serve the financial interests of families, continuing and expanding the tradition of focusing on: legal compliance, asset management, accounting, investment management, succession planning, risk management, family governance, financial education, philanthropy and concierge lifestyle services.
Building upon this foundation, The Legacy Forum™ unveiled a new model: The Family 'PEOPLE' Office™ (FPO™). This approach views the family, and individual family members themselves, as the primary assets. The FPO™ model assesses: individual family members talents, clarifies values, faith, virtues and character traits, monitors well-being, identifies relationship strengths, and integrates the historical personal legacies of family members so as to offer a holistic framework that complements financial management and supports the long-term strength, health and Family Legacy..
The new model, The Family - PEOPLE - Office (FPO™) completes and defines the concept of Total Wealth Management or the Total Family Office™ (TFO™).
The Purpose of the Total Family Office™ is to Manage, Grow and Protect Family Wealth, both Financial and Human.
There is a Problem to Solve
"From shirtsleeves to shirtsleeves in three generations"
In December 2017, Jan Berger, in Camden Wealth, talked about how the “Curse” of great wealth can manifested itself,
“According to a 2019 survey of High and Ultra High Net Worth Families, 71 percent of respondents admitted they are aware of or were directly affected by a family member’s struggle with mental health or addiction. 84 percent said they are concerned about potential damage to the family’s reputation. Without exception, all expressed concern about the destructive potential of bad decisions fueled by substance abuse.”
70% of wealthy families lose their wealth by the second generation. A further 90% will lose it by the 3rd generation and only 5% will endure to the 4th generation.
No Culture or Generation is Exempt
Italy, “From stalls to stars to stalls”.
Spain, "He who doesn’t have it, does it, and who has it, misuses it”.
Holland, "From clogs to clogs in three generations".
Germany, "The first generation creates the wealth; the second maintains it; the third studies the history of art and the fourth degenerates.
Japan, "The third generation ruins the house".
China, "Wealth does not last three generations
“Wealth can be a curse and, in most cases it is, if you drill down on it, wealth is a curse in terms of marriage, children, and things of that nature"
David Green, the multi-billionaire founder of Hobby Lobby
Family People Office Meets The Family Financial Office
The Legacy Forum™ believes that the success and survival of a Family Office is totally and intricately dependent on the life, health, strength, faith, values and virtues of the families they serve.
The Attempt to Face The Great Wealth Transfer
The most recent work of Family Offices and Wealth Managers has been focused on finding answers to the great opportunities and challenges presented by The Great Wealth Transfer. They have sought to find new and innovative answers to: improve family governance, succession planning, intergenerational communication, more comprehensive and engaging financial education for family members, using words like “Holistic” and "Well-Being" and clarifying Family Mission. These are all positive attempts. They are all important issues which The Legacy Forum™ with our knowledge of and relationship with family members can partner on and make great and positive moves forward.
The Problem Cannot Be Solved Alone
The problem is the well-defined Fiduciary constraints that Family Offices and Wealth Managers have. They know they are bound by their professional ethics to stay in their lane. The reality is Family Offices can only do half the work that UHNW individuals and families need for essential survival, well-being and success. They simply they cannot solve the problem alone.
"We spent decades accumulating financial capital, only to realize belatedly that we had neglected investing in our family capital. The sustainability of the former is ultimately determined by the latter". (Wealth Manager Unidentified)
When The Legacy Forum's Family Office™ (FPO™ ) and The Family Financial Office (FFO™) co-operate, Total Family Wealth Management™ can be achieved. What the lifespan of the Family Office ultimately mirrors the life and success of the family. We can change that together. Starting a conversation early is often a wise choice as this Great Wealth Transfer is not your average change.
A Critical Equation
At The Legacy Forum™, we believe that if Human Capital is not seen as co-equal or of greater value than the management of Financial Wealth, the entire system — you and your family — are at significant risk and your future becomes fundamentally unstable. The Family Office's mission must be driven by the mission to serve and enable the family to not only thrive but with the mission to build lives that will endure for generations. Remember, “Family” precedes “Office”.
Financial Portfolio > Human Capital Portfolio =
High Risk of Erosion due to Human Capital Disintegration and Fracturing
Human Capital Portfolio > Financial Portfolio =
Potential for Total Wealth Management, Thriving Families and Enduring Legacy
"What is true is this. As goes the family, so goes the Family Office."
Mark R Demos, Co-Founder The Legacy Forum™
The Foundation of Enduring Legacy
The Importance of Faith, Values, and Virtues in Legacy Building
At The Legacy Forum™, the assets of faith and beliefs, values, and virtues are considered invaluable to both individual and family legacy. Through extensive experience, The Legacy Forum™ has consistently observed that when wealth is separated from these foundational principles, it often becomes unstable or, in the worst scenarios, even destructive. Conversely, when faith, values, and virtues are deeply integrated into the management and distribution of wealth, they serve to strengthen the impact of that wealth, helping to build a lasting legacy that endures for future generations.
Integrating Ancient Wisdom and Modern Science
The Legacy Forum™ employs a holistic approach that combines ancient wisdom with modern, science-based methodologies to understand and assess Human Capital. By utilizing both traditional insights and contemporary research, the organization is able to chart a strategic course that fosters strength, stability, and success for families.
Building and Monitoring Human Capital
The Legacy Forum™ is committed to helping clients develop their Human Capital Portfolio™, offering ongoing assessment and strategic guidance to build and maintain this vital asset. The organization continuously monitors the wellbeing of each family, providing support and partnership throughout every stage of the journey. By walking alongside families, The Legacy Forum™ ensures that faith, values, and virtues remain central to the legacy-building process.
"The greatest legacy one can pass on to one’s children and grandchildren is not money or other material things accumulated in one’s life, but rather a legacy of character and faith."
— Billy Graham
