The Private Office Health Check
The high-level version of the Total wealth assessment.
Meet the Hartleys (fictional)
Margaret was widowed eight months ago. The family business was sold in 2024, leaving about $82m across eight structures: five companies, a family trust, a unit trust and a super fund. Her private bank wants the portfolio reinvested within 60 days, and she does not know who now holds the family trust’s appointor role.
- MargaretAge 58
Widowed eight months ago (Richard). Sole director of all five companies.
- JamesAge 31
Commercial lawyer, married to Priya, one child.
- SophieAge 27
Ceramic artist, irregular income.
- TomAge 19
Engineering student.
The Private Office Health Check
What it is
A two-hour structured review across ten areas, from records and control roles to cyber, family governance and the next generation. Each area is rated green (in place), amber (partly in place, or depends on one person) or red (missing or at risk), with a light Family Balance Sheet alongside. It is the high-level version of the Total wealth assessment, and the work carries across if the family goes further.
- A one-page scorecard across ten areas
- The three highest risks, and who would fix each one
- A clear flag where the family’s total costs look high
- A sense of how we work, before any larger commitment
How it works
Gather
A short list of documents and a two-hour meeting.
Review
Ten areas, each with a few direct questions.
Rate
Green, amber or red, against evidence.
Report
One page and the three highest risks.
A worked example, using the Hartley family
The Hartley scorecard
Illustrative sample- 1. Records and reportingAMBER
- 2. Control rolesRED
- 3. Estate documentsRED
- 4. AdvisersAMBER
- 5. Investment governanceRED
- 6. Liquidity and cash flowAMBER
- 7. Insurance and riskAMBER
- 8. Cyber and privacyAMBER
- 9. Family governanceRED
- 10. Next generationRED
The family trust’s appointor role has no named successor, and the trust sits above a unit trust and two companies.
Margaret’s 2015 will still names Richard as executor.
No Investment Policy Statement, with the bank pressing to reinvest.
The Hartley family is fictional and all figures are illustrative. This material is general information only and is not personal financial, tax or legal advice.
Where it’s usedSee it
WEALTH PICTURENot used at this stage.
Solve it
HEALTH CHECKThe high-level version of the Total wealth assessment.
Run it
PRIVATE OFFICEIts findings carry straight into the Private Office.