Once you have completed the Discovery phase, you will have received and approved a conceptual rendering of proposed changes and restructuring to your family wealth enterprise (FWE). During the Project Engineering phase, your team will work to build out the detailed steps, sequencing, dependencies, and other critical factors. We will also vet the plan with your advisory team and outside specialists, ensuring all parties have the pertinent facts and details with which to deliver the most informed advice and feedback. This process is vital as it solidifies our recommendations, rallies the team, and ensures everyone is aware of their role and timelines as we prepare for implementation. 

To ensure each of the objectives of your FWE is considered, we develop a detailed project plan with the necessary steps, sequencing, interdependencies, parties responsible, timelines, and budgets. This will provide visibility to the full team and hold all parties accountable when your plan is ultimately executed. We will also source and engage any needed third-party experts, such as CPAs, attorneys, and specialized advisors to assist our team in implementing your plan. 

We will also seek counsel and feedback from your existing advisory team who will be instrumental in the crafting of the implementation plan but may not necessarily be in control of the steps, documents, or tasks. This can sometimes cause a little consternation among the incumbent advisors as they are used to having more control and likely personally implementing various planning and tax work for you. The intent is not to marginalize your long-time advisors, but rather to develop and ultimately implement a cohesive plan that doesn’t require your personal involvement at every step.   

While the engineering phase does not require a large time commitment from you, please be prepared to answer any questions should they arise. After 60 days of finalizing the detailed project plan for your FWE and ensuring each step and process is accounted for, we will conduct a quality assurance review of calculations, detailed steps and recommendations. Once we are confident your plan is complete and accurate, we will deliver: 

Additionally, we will meet to ensure all parties are aligned. In this final Project Engineering meeting, we will: 

• Review the initial plan and compare it to what we intend to implement 
• Discuss any modifications, clarify the rationale for the changes, and ensure you understand 
• Confirm client approval of the plan  
• Propose a Phase III Implementation Statement of Work (SOW) 

Once your plan and SOW have been finalized and approved, we will kick off Phase III: Implementation.