Why Family Offices Need to Strategically Outsource

Russ Alan Prince
Russ Alan Prince

I consistently find great value in the writings of Russ Alan Prince, a founder and the Executive Director of Private Wealth magazine and author of the Serious Money column on Forbes.com. In this Forbes.com post, he explores why single-family offices may benefit from strategically outsourcing certain functions.

Archival Property Solutions, LLC is a prime example of a firm that offers a specialized service beyond the scope of a typical family office’s core competency. The dynamic that Russ Alan Prince describes in the article below is equally applicable, if not more so, to multi-family offices. We look forward to working with a variety of family offices to enhance their effectiveness and make them look that much better in the eyes of their very demanding clients.

SINGLE-FAMILY OFFICES EMBRACE STRATEGIC OUTSOURCING
by Russ Alan Prince

Single-family offices are often expensive propositions. They’re generally very much boutique operations employing high-caliber experts in the service of the very wealthy.

The costs of running a family office have always been a consideration, but have become even more scrutinized since 2008. According to Steffianna Claiden, founder and editor-in-chief of Family Office Review, “Both families with existing offices of some kind and families new to having an office have deduced that doing everything themselves can all too easily become a massively expensive headache. Hence the rise of “strategic outsourcing”—the trick is figuring out which functions make sense to keep at home and which to farm out. The second challenge is finding and evaluating suitable providers and then choosing the right one. Land mine city, doing all of that.”

Another leading authority in the field, Linda Mack, president of Mack International, LLC, explains, “Family offices are increasingly looking at how to best provide the highest level quality services to their family clients on a cost effective basis. This includes a comprehensive review of strategic outsource alternatives. An increasing number of them are ascribing to the view that if a strategic outsource provider can provide the service in question at a higher level of quality and excellence than we can in-house, can provide it at a better price, and can provide it without conflict and with transparency, it makes sense to strongly consider that alternative to best serve the family’s needs and objectives.”

“We’re seeing smart family members taking a hard look at the expenses attached to running their family offices,” explains Richard Flynn, principal at Rothstein Kass, “At the same time, the very wealthy have become clearer and more precise on just what expertise they need in various circumstances.” Combining these two considerations, the family offices creating the best solutions for the ultra-wealthy are the ones:

1. Identifying and concentrating on their high-impact core capabilities, and
2. Strategically outsourcing non-core capabilities, while
3. Maintaining diligent oversight on the professionals delivering the non-core capabilities.

These three organizational competences can prove problematic. The ability to determine and justify core versus non-core capabilities is often fairly difficult for many wealthy families. Big picture, the following equation conceptually captures the factors that need to be evaluated in determining whether to outsource capabilities:

(Frequency + Criticality) – (Cost + Exclusivity) = Determination

• Frequency is the likely amount of usage by the family office for the expertise.
• Criticality is the importance of the expertise to the family office.
• Cost is the differential expense of the expertise depending on whether it’s in-house or outsourced.
• Exclusivity is the level of requisite proprietary access to the expertise.
• Determination whether to bring the expertise in-house or not.

Another complication is that being able to adroitly select professionals to outsource is fraught with the potential for disaster. This is a function of decreased control thereby making sourcing independent professionals a very important process.

Strategic outsourcing, in effect, is an extremely powerful and ubiquitous trend in the family office universe. The issue is to engage in strategic outsourcing wisely. The answer is often extensive and ongoing diagnostic assessments coupled with the structural flexibility to adjust quickly.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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Claim Time Is the Wrong Time

house-floodedIt’s not surprising that so many high-net-worth individuals are underinsured. They live such complicated lives that updating their personal insurance coverage to reflect a growing asset base can be low on their list of priorities. Unfortunately, that increased exposure leaves them vulnerable when underinsured assets are lost, stolen, damaged or destroyed.

A client’s financial assets are valued by investment managers every day as a matter of course, but the client’s non-financial assets, which may be displayed or stored in various locations, are not as easily valued.

When valuable assets are underinsured and not well documented, the owner’s financial risk can be substantial. In the wake of calamitous events, a family’s shock and grief is often compounded with regret at not having documented their possessions prior to the loss through photo images, digital copies of purchase receipts, current appraisals, and descriptions of condition, location, provenance and other details. Furnishing an insurance provider with a detailed list of affected property as promptly as possible after a loss can go a long way toward increasing the efficiency and reducing the stress of the claim filing process.

Unless insurance providers are diligent about reviewing and updating coverage at regular intervals, they can fail to direct clients to specialized policies designed for the unique needs of upscale owners. Lacking a thorough inventory of tangible property with current valuations, even Family Offices can’t effectively manage their client’s protection needs.

Archival Property Solutions can help by documenting and cataloging a client’s tangible assets—and traveling to distant locations to do so if need be. The resulting digital catalog can help ensure that the client is provided with the right type and amount of insurance coverage. Claim time is the wrong time to discover that coverage is unsuitable.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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The Case of the Culpable Collector

honus-wagner-baseball-card
A mint condition T206 Honus Wagner baseball card was sold for $2.8 million in 2011

A colleague recently told me about a client who had an extensive and expensive collection of curios. He had rather sheepishly turned to her for help in documenting and cataloging it after his wife had insisted he do so. The client’s wife told him, “If you’re going to complicate our lives with your collection to this extent, you better get all the facts organized and detail a plan for me or the kids to follow in case it falls to us to untangle all of it.”

It’s a fair point and one that every serious collector should consider. Tomorrow is promised to no one. If the collector were to absent-mindedly step in front of a bus, his wife and kids would be left to literally pick up the pieces of his cherished collectibles. Chances are they wouldn’t know what the collection was worth, who to trust to appraise it or how to go about selling it.

Amassing a valuable collection of any type carries with it the responsibility of documenting it for the sake of the loved ones you may suddenly leave behind. Absent advance planning, every situation involving valuable assets can or will become someone else’s problem in due time.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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Preserving a Cherished Family Legacy

deskNed and Nancy were thrilled to receive a rare Louis XV style Bureau Du Roi Cylinder Desk on their wedding day from Nancy’s parents. Thirty-two years later, their daughter Samantha was moved to tears when her parents presented this family treasure to her on her own wedding day. Samantha and John’s daughter, now a teenager, is dreaming of her own wedding some day and looking forward to being the beneficiary of a longstanding family tradition—the passing between generations of this cherished family heirloom.

Given that John and Samantha’s luxurious oceanfront home is vulnerable to severe weather, the couple made a point of documenting this exceptional Louis XV desk with photo images and scans of its compelling provenance, measurements and other metrics. They have done what they could to safeguard their home against destructive events, but should this valuable desk be damaged or destroyed they are comforted by the fact that a detailed documentation record of this important piece of family history, complete with audio recollections and descriptions from previous owners, will be preserved on Archival Property Solutions’ secure website for future generations to enjoy.

Cataloging their Louis XV desk in this manner and updating the record with regular value appraisals will help the family maintain suitable insurance coverage. In the event an insurance claim needs to be made, they can rest assured that the recovery process will proceed smoothly.

While the names and details of this story have been changed, these benefits are available to every client of Archival Property Solutions. Documenting a client’s tangible assets results in a catalog of valuable information that can serve as a useful and time-saving resource for Family Office activities and a wide range of services including estate planning, tax strategy, insurance evaluation, wealth management and personal- and business-related legal work.

As evidenced by the above story, creating a digital catalog is also an emotionally rewarding way to record and preserve a family’s history. Family gatherings, celebrations and traditions can be revisited by scrolling through visual reminders of past and present family treasures, homes and special collections prized more for their sentimental value than financial worth. At a moment’s notice, all this and more can be recalled and enjoyed visually and verbally through connected devices alone or with family members in distant locations.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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Separation Anxiety

framed-picassoAffluent individuals tend to display or store high-value possessions in various locations. Many of these treasures—from works of art to memorabilia to personal items—are one-of-a-kind pieces whose emotional value matches or surpasses their financial worth. Such objects are irreplaceable should they be damaged or lost due to fire, calamity, vandalism or theft. If these items are part of a larger collection, their loss may dramatically reduce the value of the now-incomplete set.

When these possessions are located far from the owner’s watchful eye, the risk of damage or loss can increase substantially; even implementing best-practice security measures may fail to fully protect them. Physical separation also denies the owner direct enjoyment of these cherished items until the next visit can be arranged.

Thoroughly and professionally documenting and digitally cataloging these assets keeps owners in visual touch with their prized possessions, which enhances their enjoyment of ownership and provides a greater degree of peace and contentment. What’s more, should an item be lost, damaged or destroyed, furnishing the insurance provider with a detailed list of affected property as promptly as possible can increase the efficiency and reduce the stress of the claim filing process.

Ultimately, retaining Archival Property Solutions to document and catalog these treasured possessions allows high-net-worth owners to better manage the emotional, logistical and financial complexities associated with substantial wealth.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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Know What You Own

businessman-on-phoneAs an individual’s affluence increases, so too do the quantity, diversity and value of their possessions. This predictable pattern drives home the urgency of four important words: Know What You Own!

Why is knowing what you own—and documenting and cataloging it—important? A secure online catalog of tangible assets with client-controlled access enables owners to collaborate with professional advisors and family members across the table or around the world, adding significant value to applications as diverse as:

Insurance Evaluation
Documenting valuable assets—through photo images, digital copies of purchase receipts, current appraisals, and descriptions of condition, location, provenance, and other details—ensures that owners are provided with the right type and amount of insurance coverage. Claim time is the wrong time to discover that coverage is unsuitable.

Insurance Claim Filing Efficiency
Furnishing the insurance provider with a detailed list of affected property as promptly as possible after insured assets are lost, stolen, damaged or destroyed can increase the efficiency and reduce the stress of the claim filing process.

Estate Planning
Producing a complete digital catalog of tangible assets can add clarity and efficiency to the estate planning process and cultivate harmony among family members.

Legal Planning
Detailed documentation of tangible assets can play a crucial role in personal and business legal matters ranging from prenuptial agreement planning to property division in divorce settlements to general business planning.

Tax Planning
The quality of any tax planning service is dependent on the quality of information provided to the tax planner. Documenting, and cataloging tangible assets thoroughly and accurately may provide immediate tax advantages and/or prevent serious tax issues from surfacing in the future.

Wealth Management
A thorough and accurate digital catalog of tangible personal and business assets allows high-net-worth owners to face the future in full command of important details associated with their wealth.

Disaster Recovery
A digital catalog should contain the information an owner needs for ready use in disaster recovery. Detailed pre-loss documentation of treasured possessions greatly improves the odds that each item can be accurately claimed, each structure rebuilt, each setting restored, and each bit of family history preserved.

Property Management
When the features and associated facts of real estate structures are captured, recorded, and hosted on an encrypted, secure website, an owner can maximize property values by remotely and efficiently managing all the details involved with ownership.

Fine Art and Collectibles
Fine art and valuable collections such as classic cars, wine, coins, and stamps, are often a reflection of the passions and priorities of the owner—reason enough to document these assets to make certain that they are suitably insured to support replacement or adequate compensation in the event of an insurable loss. If items are lost to burglary, their recovery, as well as the perpetrator’s prosecution, may directly depend on the images and special markings that the victim can provide to law enforcement.

Philanthropy Planning
All philanthropic planning and donation-related communications require accurate facts and valuations. Cataloging special collections and other items that are earmarked for donation is an efficient and cost-effective way to correspond with prospective donation recipients.

Valuable Documents and Data
Important documents and confidential data—including legal agreements concerning specific items, intentions and values—should be backed up in case originals are lost, damaged, or destroyed. This digital library can also serve as a virtual living will by providing family members with critical data in the event of a loved one’s serious illness, disabling accident, memory decline, or death.

Virtual Tour Enjoyment
Documenting and cataloging tangible assets won’t just help with insurance claims and coverage, it’s also an emotionally rewarding way to record and preserve a family’s history. Family gatherings, celebrations and traditions can be revisited by scrolling through visual reminders of past and present family treasures, homes and special collections prized more for their sentimental value than financial worth. At a moment’s notice, all this and more can be recalled and enjoyed visually and verbally through connected devices alone or with family members in distant locations.

For optimal results, thoroughly documenting and cataloging tangible assets is best left to experts. Archival Property Solutions has broad experience with property categories and asset classes, and the network reach to refer owners to experienced appraisers and other uniquely qualified professionals when appropriate. You can rely on us to perform the tiresome and grueling work of gathering and organizing the necessary data and images, and privately displaying the resulting information catalog securely online.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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The Winds of Change

house-on-life-raftIn the article, How to Manage the Winds of Change for High Net Worth Clients,” Jerry Hourihan, executive vice president and chief marketing officer for American International Group’s Personal Lines in the United States and Canada, notes that the number and severity of extreme weather events and other calamities are on the rise. This heightened activity, Hourihan says, points to some startling trends:

• Atlantic-named storms in the month of June have nearly doubled since 1995.
Cal Fire reports 3,719 fires and 63,701 acres burned from January 1 through July 13, 2013, compared to 2,597 fires with 33,412 acres burned for the same time period in 2012.
• The 2011 earthquake in Virginia triggered landslides at distances four times farther—and over an area twenty times larger—than previous research would have indicated.
• More than 20 percent of flood insurance claims come from areas mapped outside high-risk areas.

Unfortunately, adds Hourihan, those with the most to protect often are not aware of their exposures. Even in the face of an uncontrollable storm or natural disaster, a significant number of claims can be prevented (or their severity lessened) through proactive risk management.

Click here to read the rest of Hourihan’s article in Insurance Journal.

We agree wholeheartedly with Hourihan’s call for proactive risk management. Documenting and cataloging tangible assets before a catastrophic storm, flood or fire inflicts substantial damage or losses will ensure that the road to recovery is smoother, more orderly and less emotionally and financially taxing.

Which assets should be cataloged? Owners may first think of assets such as fine art, valuable collections, jewelry, gems, antiques and luxury items. But it’s also important to document residential structures, their landscapes, and their daily use contents, including amenities, furniture, décor, fixtures, finishes, and other architectural details. It is also wise to include digital scans of confidential documents and  data.

The sooner that a digital catalog of tangible assets is securely stored with client-controlled access, the sooner the owner can empower his Family Office or insurance advisors to eliminate any coverage gaps with updated and suitable coverage. Then, in the event of calamity, the claim handling process will be less stressful and more likely to produce a favorable outcome, enabling the owner to focus on what matters most: comforting family members, rebuilding or repairing their damaged home, and saving, recovering, restoring or replacing their valued possessions.

Ultimately, creating a digital catalog of valued property, documents and data is not only practical, it protects the most valuable asset of all: peace of mind.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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Sooner Is Better Than Too Late

stormy-weather-lightningThe first three paragraphs of an article titled “Stormy Weather” by Leila Boulton in Private Wealth magazine highlights a significant risk factor in the lifestyles of high-net-worth individuals and families:

“No one knows exactly how climate change and severe weather will impact the luxury home market. But advisors to the wealthy do have reason to be concerned, as the ultra-wealthy naturally gravitate to areas that suffer the most from destructive storms and other natural hazards.

“

Who wouldn’t like to live with a beautiful waterfront view?” asks Scott Spencer, worldwide loss prevention and appraisal manager at Chubb Personal Insurance. “We continue to rebuild in places that have losses. Again and again and again.”

The simple fact for insurance companies is that wealthy policyholders tend to build and buy properties along picturesque coastlines susceptible to rising sea levels, on tropical islands vulnerable to intensifying hurricanes and in scenic mountain areas prone to escalating wildfires.

Click here to read the full article in Private Wealth.


It’s crucial that high-net-worth owners document and catalog their valued tangible assets before a catastrophic storm, flood or fire can inflict substantial damage or losses. Those assets often include fine art, valuable collections, jewelry, gems, antiques and luxury items, but it’s also critical to document residential structures, their landscapes, and their daily use contents, including amenities, furniture, décor, fixtures, finishes, and other architectural details.

The sooner such documentation is completed and made available to the owner’s Family Office or insurance advisors, the more confident the owner will be that any coverage gaps will be effectively dealt with. If, however, the owner waits to act until the evacuation notice arrives or warning sirens start blaring, his chances for making the best possible recovery may literally go up in smoke.

When an entire region is alerted to brace for extreme weather or impending calamity and the threat of damage becomes a near certainty, having a customized digital catalog in place for collaboration with professional service providers can facilitate an easier and faster claim handling process and a less stressful, more complete recovery that may include structure demolition and reconstruction.

For optimal results, thoroughly documenting and cataloging tangible assets is best left to experts. Archival Property Solutions will perform the tiresome and grueling work of gathering, organizing, and privately displaying the resulting information catalog securely online, well beyond the reach of the gathering storm. The sooner you call us, the better the chance that you won’t be calling a minute too late.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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The Art of Coverage

Asset protection attorney Ike Devji
Asset protection attorney Ike Devji

With a brief opening comment, Ike Devji, an asset protection lawyer in Phoenix whose client base represents nearly $6 billion in personal assets, launched a discussion on 6/27/13 in the LinkedIn Asset Protection Professionals group by posting this article by PropertyCasualty360.com. The article is titled “The Art of Coverage: Collectibles Insurance vs. Traditional Homeowners Policy.”

Given that I share Ike’s interest in and concern for this topic, I posted the following comment in response:

An excellent article! In the wake of substantial loss, claim time is the wrong time to discover that coverage is unsuitable. It’s not just the owner who loses in such a scenario: no insurance broker or company wants to see gaps in coverage jeopardize important client relationships.

Unsuitable coverage isn’t the only challenge. If valued items are lost, stolen, damaged or destroyed, the lack of accurate pre-loss documentation may cause some items to be overlooked or undervalued, adding unnecessary stress to an already distraught owner and substantially affecting the recovery process.

Everybody wins when owners do their part to get their tangible assets documented and professional service providers do their part to ensure that all parties have full, current, and accurate information to work with so gaps can be eliminated and efficient loss recovery facilitated.

The best solution is to digitally catalog an owner’s prized collectibles. Professionally documenting these assets—through photo images, digital copies of purchase receipts, current appraisals, and descriptions of condition, location, provenance, and other details—helps owners and their trusted advisors arrange for suitable coverage and better manage the complexities associated with valuable collections.

It falls to advisors to advocate for awareness and action on everyone’s part, and sooner rather than later. The scourge of complacency may threaten once-valued advisor relationships. The problem with waiting is that there is no problem until everyone has a problem and it’s too late to get it right.

Archival Property Solutions specializes in constructing digital catalogs of tangible assets that help owners and their professional service providers cope with, plan for, protect against, and recover from life’s unexpected events. Ultimately, creating a digital catalog is not only practical, it protects the most valuable asset of all: peace of mind.

John T. Mosby
Archival Property Solutions



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

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The Thrill of the Hunt

man-sitting-artworkA fascinating article in the New York Times explores the psychological and logistical dynamics of hunting down, acquiring and collecting valuable paintings, sculptures and other works of art.

Click here to read the full New York Times article.

It’s easy to understand the appeal of collecting. Yes, the supply of fine art and other collectibles is limited, which bodes well for a healthy return on investment, but collecting is about far more than making money. Many items are unique and scarce, which get a prize hunter’s competitive juices flowing. The sheer joy and pride of ownership also factor in; not only can items be displayed for decoration, the owner can personally see and touch each piece whenever they feel moved to do so. Many owners of valuable art also enjoy stimulating cultural awareness, appreciation and value through philanthropic efforts. You can’t get those benefits from fondling a $100 bill, a government bond or a stock certificate.

Experienced collectors recognize that thoroughly documenting their works of art—so that they know every aspect of what they own and where it’s located—is a necessary and responsible aspect of collecting. Creating a digital catalog of these assets protects their investments by ensuring that they have the right type and amount of insurance coverage and keep that coverage up to date as asset circumstances change. In the event of a fire, natural disaster, or burglary, furnishing the insurance provider with a detailed list of affected property as promptly as possible can increase the efficiency and reduce the stress of the claim filing process. In contrast, the lack of accurate documentation may cause some lost items to be underinsured or overlooked altogether, adding unnecessary stress to an already distraught owner and substantially affecting the recovery process.

Retaining Archival Property Solutions to digitally document these prized possessions securely online also offers the owner the pleasure of remotely viewing any item in a prized collection at any time, and even sharing the experience through connected devices with family members, friends or trusted advisors in distant locations. Ultimately, inventorying a collection is a natural extension of the desire to acquire these objects in the first place.



Click here to see a listing of all Archival Property Solutions blog posts.


About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.

Share