CEO Amy Egtvet talks with Jules Cechony, Director of Family Office Services, about the day-to-day work behind the service – what we handle, the point at which someone’s financial life is complicated enough to need it, and why the result clients describe most often is relief.
Amy: Many people have heard the term “family office,” but aren’t exactly sure what it means. How would you describe Family Office Services?
Jules: At its simplest, a family office is a third party that helps manage the financial, administrative, and sometimes personal details of a family’s life. That can mean things like bill pay, cash flow, working with their other advisors, estate and tax planning coordination, philanthropy, property management, you name it. At WE Trust, we really focus on the day-to-day financial details, keeping clients informed and making sure things keep moving.
Amy: Who is the ideal client for Family Office? Are these services only for ultra-high-net-worth families?
Jules: Not necessarily. Our ideal client is really someone; a person, couple, or family member, whose financial life has gotten complicated enough that they need more support than traditional wealth management provides. They may be high net worth, but that’s not always the case. What matters most is that they’re willing to work with us in a close financial relationship. We see a lot, including spending and family dynamics, and we approach all of that with complete discretion.
Amy: What are some of the most common reasons people reach out to WE Trust for Family Office Services?
Jules: A lot of the time, they – or their advisor – realize they’re just having trouble keeping up with all the day-to-day details. Maybe it’s a younger person whose wealth and financial life are growing faster than they can keep up with, or an older person who has accumulated wealth over many years and now wants someone to help keep an eye on things. And sometimes people can’t quite put their finger on what they need—they just know that having some help would give them peace of mind.
Amy: What are some of the day-to-day responsibilities you handle for clients that they may not even realize can be delegated?
Jules: We do a lot of the things that people don’t necessarily think of as something they can hand off. We pay bills, reconcile accounts, track cash flow, and look for things that don’t look quite right—like unusual charges or potential fraud. We might help manage a project at a client’s home, coordinate maintenance on a vacation property, or help arrange household or caregiving support.
Amy: Many people work with a financial advisor. How is Family Office different from wealth management?
Jules: We don’t provide investment advice. We’re much more focused on the day-to-day financial details, cash flow, tracking, reconciling accounts, and making sure everything is accurate. We’re often looking at those little details that help inform the bigger conversations and decisions the client is having with their financial advisor.
Amy: People often tell us they feel overwhelmed by the administrative side of managing their financial lives. How does Family Office help reduce that stress?
Jules: I think of it as cognitive offloading. There is just so much coming at all of us these days. When you know someone else is watching the financial details and taking care of those recurring tasks, you don’t have to keep all of that in your head. It frees you up to focus on the things you actually want to be doing.
Amy: Can you share an example of a situation where Family Office Services made a significant difference for a client?
Jules: We had a client come to us in her early 80s after her husband passed away. She had never paid a bill herself and really didn’t know how much money she had or where it was held. But she wanted to learn.
We worked alongside her and her advisors as she navigated probate, got a better understanding of her finances, connected with a CPA and investment advisor, and really found her independence. It was wonderful to watch her gain that confidence.
Amy: Our Family Office Services are highly customized. How do you determine what each client needs?
Jules: We start with listening, and honestly, we never really stop. We work with the client to figure out what’s working, what’s causing headaches, and where we can be most helpful. There isn’t a one-size-fits-all approach. We have best practices and ways we typically do things, but every client is different, so we stay flexible.
Amy: What surprises clients the most after they begin working with you?
Jules: I think it’s the relief. People may come to us thinking they just need help paying bills or getting organized, and then they realize how helpful it is to have someone consistently looking at their financial details.
They’re often especially surprised by how much we can help with things like organizing tax information and getting everything their advisors need in one place. Once they don’t have to worry about those details anymore, they really feel the difference.
Amy: People sometimes hesitate to ask for help because they think they “should” be able to manage everything themselves. What would you say to someone who’s feeling that way?
Jules: I tell people that hiring us allows them to spend their time doing the things they’re good at and actually want to do. I think we need to replace the word should with could. You could do all of this yourself; but you don’t necessarily have to.
Amy: If someone is curious about Family Office Services but isn’t sure they’re ready, what’s the best first step?
Jules: Just reach out and have a conversation with us. There’s no pressure to engage. The last thing we want is to take on someone who isn’t a good fit or where we can’t really help. We want to be candid about that, and the first conversation is a good way for both sides to figure that out.
Amy: What do you enjoy most about working with Family Office clients?
Jules: I love being in a place of trust with our clients. It’s really an honor. And I also love that I learn something new almost every day, probably at least ten new things!
Amy: If you could wave a magic wand and eliminate one financial headache for everyone, what would it be?
Jules: Banking! Banks don’t always understand what we do or how to work with us on behalf of a shared client. I wish I could wave a magic wand and educate bankers about our role so they would work with us instead of creating roadblocks.
As people’s financial lives become more complicated, I think we’re going to see more delegation to third parties like WE Trust. It would be great if the banking world caught up with that and recognized how we can work together.
Amy: If readers remember just one thing about WE Trust’s Family Office Services after reading this interview, what would you want it to be?
Jules: We’re here to help!