Professional Documents
Culture Documents
Founded in 1982, Paul Comstock Partners is a fee-only, private, independent, wealth advisory
firm. We provide high net worth individuals, families, private fiduciaries, private and public exempt
organizations with leadership designed to maximize the economic and non-economic benefits of their
financial capital.
Our Clients
Individuals and Foundations with investment assets of $10 million or greater, desiring financial and
investment management planning.
Wealthy Families, Individuals and Private Fiduciaries with investment assets of $20 million or
greater, faced with complex wealth management, transfer and administrative issues.
Private and Public Tax-Exempt Organizations with investment assets of $20 million or greater, with
an intricate financial structure and complex implementation and administrative issues.
Family Offices with assets of $50 million or greater, managing multifaceted organizations,
partnerships, and private companies involving family and internal professional staff.
Objective Advice
One of the foundations of our strategic planning and investment advisory services is our diligent
attention in guarding our objectivity. Our firm is privately owned and is not under the control of any
parent organization or shareholders interested in selling investment products. Consulting revenue is
our only revenue. We work on a fee-only basis and refuse to accept commissions from any service
providers. We do not originate investments. This freedom from the conflicts of interest that are so
prevalent with many providers of investment advisory services allows our clients to have the comfort
of knowing that our recommendations are based exclusively on what we believe to be in their best
interest.
Family Wealth
It’s not only about the money… it’s about people.
Family wealth management is complex. It requires experience and sensitivity for the people
involved. This fundamental philosophy means that people are always our primary focus. We at
Comstock are in the business of serving individuals, families, family offices, and their philanthropic
entities with financial and investment advisory leadership through an organizational process that
engages them in a positive experience. Our clients always remain in charge.
High Net Worth families often face critical issues associated with wealth. These issues may
include: incomplete data, conflicts of interest, overspending, unrealistic return expectations, inefficient
organizational structure, and successor leadership. If not properly addressed, any one critical issue
could jeopardize the family wealth.
Areas of Focus
Critical issues to the family’s wealth can be organized
into four primary areas. When a critical issue occurs in
Investments one area, it generally impacts the other three. While
Wealth Transfer activity in each of these areas should be coordinated,
too often the family’s legal, tax, and other advisors are
not provided an opportunity to participate in developing
Cash Flow integrated solutions.
People
Management
Through our unique “Getting to the Beginning” process,
realistic desired outcomes and the barriers to achieving
them are identified. Key to the long-term success of
managing each of the areas is the development of a
thoughtful strategic plan. Risks to the family wealth are
dealt with and mitigated within this plan. The venue for
this effort is the family financial organization overseen by
an informed and trained governance structure made up
of designated family members.
Wealth Transfer Our Role: Working with the FAC, we provide support in developing realistic
distribution objectives that have a high probability of sustainability. Once a distribution
plan is developed, we assist in preparing beneficiaries for their future roles and
responsibilities. Working as a member of the professional advisory council, we provide
guidance in the development of the family “money” business organization, including
current and successor leadership identification and training. Our role includes assisting
families in communicating and implementing their plans through family meetings; one-
on-one coaching; and our specialized quarterly, semiannual, or annual wealth reports.
Our Role: We provide present and forward cash flow modeling utilizing our proprietary
Monte Carlo investment return analysis and various portfolio distribution scenarios. All
modeling includes projections based on wealth transfer events, both current and those
driven by mortality. We give leadership in modeling future family organization structures
to provide the FAC, staff, and family members with realistic long-term budget planning.
While the creator of the wealth is very savvy in business operations, he or she often
lacks the resources to conduct successful due diligence when investing outside his or
her expertise. Many people turn to national banking, insurance, or brokerage firms with
consulting teams to fulfill that process. The challenge with this approach is the inherent
conflict these organizations have regarding product recommendations and an
Investments unwillingness to analyze their compatibility with the separate business holdings of the
investor.
Our Role: Successful investing must control risk and deliver adequate returns for
forward planning, consumption needs, tax liabilities, and inflation protection. We are
engaged to provide active investment analytics and advice to construct and implement
an investment program that incorporates the business acumen of the client and the
existing portfolio of assets. We seek enhanced returns through each avenue available
while focusing on risk reduction.
Our Role: We provide a strategic, as well as tactical, organizational leadership for the family to
deal with individual and collective issues they face. Critical to the success of such leadership is
reaching consensus of the shareholders/stakeholders/beneficiaries for the goals to be achieved.
We provide leadership over the strategic plan for a positive forward change when required. In
"Riches either serve or govern the meeting the relationship and communication needs of families, we provide access to the very
possessor.” -- Horace
best specialists in any required area.
www.paulcomstockpartners.com