Title: Beatrice Advisors: Revolutionizing Wealth Management for the Next Generation
Introduction:
Christina Lewis, the founder of Beatrice Advisors, has embarked on a mission to transform the traditional landscape of wealth management. Drawing from her personal experiences as a young inheritor, she aims to create a multifamily office that embraces diversity, education, and accessibility. With an estimated $84 trillion expected to be passed down to younger generations in the next 30 years, Beatrice Advisors seeks to empower inheritors and provide them with the necessary tools to navigate their newfound wealth.
The Importance of Education and Accessibility:
Recognizing that many young inheritors lack experience in managing wealth, Lewis stresses the significance of education and accessibility. Beatrice Advisors will prioritize these aspects by providing a holistic approach to managing family assets. In addition to financial considerations, the firm will also consider a family’s values, skills, and life paths. By offering a more inclusive perspective and empowering clients through education, Beatrice aims to create healthier, wealthier, and happier families.
Embracing Diversity and Technology:
To cater to the tech-focused younger generations, Beatrice Advisors has developed a high-tech dashboard that offers families a unified view of their portfolio and assets. By combining advanced technology with personalized advice, the firm ensures that clients have real-time access to their financial information while maintaining control over their investment decisions. Furthermore, Beatrice Advisors aims to welcome a diverse range of clients in terms of race, ethnicity, and gender, promoting inclusivity within the wealth management industry.
Multifamily Offices: A Unique Approach:
Beatrice Advisors represents a new breed of wealth management firms known as multifamily offices. These offices combine the personalized approach of a single-family office with the shared costs and resources of an investment firm. In addition to investment management, multifamily offices also handle taxes, trusts, family governance, philanthropy, and legal issues. As more ultra-wealthy families turn to multifamily offices for generational wealth transitions, Beatrice Advisors aims to leverage its expertise in family wealth dynamics and governance.
Christina Lewis: A Personal Journey:
Christina Lewis’ journey in investing began at a young age when she helped her father manage his stock portfolio. After his passing, she continued to work with wealth managers, but frequently faced challenges due to acquisitions and changing relationship managers. Frustrated by the lack of personalized attention, Lewis established her own family office, BFO21, where she gained valuable experience in managing her wealth. Beatrice Advisors will share resources and expertise with BFO21, ensuring that clients benefit from a wealth of knowledge.
Customized Tax Structures and Expertise:
Meredith Bowen, President and Chief Investment Officer of Beatrice Advisors, emphasizes the firm’s commitment to tax efficiency and custom tax structures. By creating an investment infrastructure tailored to individual taxpayers’ needs, Beatrice Advisors aims to optimize wealth preservation. The firm will primarily target clients with net worth ranging from $25 million to $300 million but will also provide value to larger families seeking comprehensive wealth management solutions.
Driving Philanthropic Impact:
In addition to her work in wealth management, Christina Lewis is an active philanthropist. She founded All Star Code, an organization that equips young men of color with web and coding skills, and co-founded Giving Gap (formerly Give Blck), a searchable database of vetted Black-founded nonprofits. Lewis’s commitment to diversity and inclusion extends beyond her professional endeavors, as she serves as vice chair of the Reginald F. Lewis Foundation.
Conclusion:
Beatrice Advisors represents a paradigm shift in the world of wealth management. Through its commitment to education, accessibility, diversity, and technology, the firm aims to empower the next generation of inheritors. By embracing a holistic approach to managing family assets and providing personalized advice, Beatrice Advisors sets itself apart in an industry traditionally characterized by exclusivity. With Christina Lewis at the helm, the firm is poised to make a significant impact, helping more families achieve long-term financial success while creating a more inclusive and prosperous society.
