In a recent Financial Advisor Success podcast episode, Christi Van Rite, Founder of White River Consultants, discusses how her firm specializes in providing administrative family office services to ultra-high-net-worth families. After nearly a decade as a traditional financial advisor, Christi identified a critical gap in the industry—many high-net-worth families needed more than just investment management; they needed hands-on support for the day-to-day logistics of managing their wealth.
White River Consultants delivers services such as personal bookkeeping, payroll for household staff, property management, and bill pay. They also assist with coordinating various advisors—such as CPAs, estate planners, and insurance brokers—ensuring everyone is aligned and working towards the family’s goals.
Key Services Explained:
- Bookkeeping & Bill Pay: White River helps families keep track of their financial health by managing their household expenses, providing detailed reports, and ensuring that everything from mortgage payments to utilities is handled seamlessly.
- Payroll Services: For families employing household staff such as nannies, housekeepers, and landscapers, White River manages payroll to ensure compliance with employment laws and timely payments.
- Property Management: Christi and her team also handle personal property management for families with multiple homes. From coordinating maintenance to overseeing renovations, White River ensures that the family’s estates are well cared for.
- Project Management: The firm steps in to assist with large purchases, like acquiring a private aircraft or overseeing construction projects, ensuring everything runs smoothly and stays within budget.
Christi also highlights how important it is for her team to serve as a neutral party in managing these aspects of the family’s life, allowing other advisors to focus on their core responsibilities like investment management or estate planning. White River operates behind the scenes, coordinating between all parties and ensuring that no financial detail slips through the cracks.
Why Administrative Family Office Services Matter
High-net-worth families often face unique challenges that require more than investment oversight. As families grow in wealth and complexity, the day-to-day management of their affairs—across multiple homes, staff, and financial obligations—becomes overwhelming. Christi’s firm bridges that gap, providing comprehensive administrative services that ensure families can focus on enjoying their lives while having peace of mind that their finances are expertly managed.
Christi also emphasizes privacy, security, and transparency. By using a cloud-based system where families retain ownership of all their data, her firm ensures a seamless transition should families ever need to switch service providers. This allows clients to maintain control over their personal financial information, which is critical for privacy-conscious high-net-worth individuals.
A Growing Niche in Wealth Management
Christi’s transition from traditional financial advising to building an administrative family office service reflects a growing trend in the financial industry. High-net-worth families are increasingly seeking customized, concierge-like services that allow them to focus on their lifestyle, while a trusted team manages the intricate details of their financial lives.
If you’re interested in learning more about how administrative family office services can complement wealth management, improve client relationships, and deliver exceptional value to high-net-worth families, listen to the full episode by clicking the button below:
