When it comes to lifestyle services, concierge health care is a perfect example of a differentiating capability. A lot of wealthy people will settle for a private health advisory firm, which would assist in areas like complex disease management and arranging for second opinions. For our clients, this is insufficient. One of the concierge health care providers we choose to associate with is WorldClinic, which is a comprehensive health care provider. Our clients must be able to get all the services these care coordinators can deliver plus a whole lot more. Because of the lifestyles of many of the ultra-affluent-multiple houses, private jets and the like-they need to be able to receive emergency medical treatment anytime, anywhere. This usually means emergency telediagnosis and treatment, access to prescription medical kits and access to a physician house-call network.
I mentioned that at the Forbes Family Trust we have some specialized talents. In a previous professional life I was an M&A lawyer at Simpson, Thatcher & Bartlett. Having worked as a deal attorney, we have been able to provide that skill set to our clients.
We find that many sophisticated wealthy families are looking to source and fund their own direct deals as opposed to investing in a blind pool fund. We are able to advise on the execution of these deals as well as source deal flow from our network of families. Families enjoy the economics of a general partner and the ability to target their private equity investment where they have expertise or interest. Along the same lines, we act as the centerpiece for club deals. Given a network of families, we are positioned to link ideas with capital from like-minded families.
Prince: Can you describe the outpost family office capabilities of the Forbes Family Trust?
Bloomfield: Our network spans the globe and we will work with clients and family offices based abroad. In dealing with some extraordinarily wealthy families from other countries, we found that they have a very strong interest in investing in the U.S. Many of them also send their children here for an education and some even are transitioning to become U.S. citizens. We've also found that some single-family and multifamily offices in other countries are looking for assistance concerning their U.S. investments and meeting the needs of their family members spending time in the U.S.
In these situations, we can act as an outpost family office. We're able to work with the families of other non-U.S. family offices to ensure they are accessing the highest level of personal and investment expertise for their interests in the U.S. Some of the greatest interest in the outpost family office is coming from the Far East.
Prince: Do you have plans to expand the business?
Bloomfield: We are always interested in speaking with registered investment advisors and investment representatives at the traditional Wall Street firms that have a similar vision and are the right cultural fit for the Forbes Family Trust. Having completed the strategic alliance with LGL Partners, we have a compelling offering and platform that may work well for those advisors who value our approach and want to be part of our team.