The Bahnsen Group, a Newport Beach, Calif.-based wealth management firm with more than $3 billion in assets under management, has launched a comprehensive wealth management solution for its ultra-wealthy clients, the company announced today in a press release.

The Bahnsen Group Family Office offers a bundled solution that charges a fixed fee for non-investment services, which includes areas such as tax planning, advanced estate planning, bookkeeping, financial reporting, bill pay, digital record-keeping, risk management, real estate coordination, and family governance, the release said.

Additionally, the Bahnsen Group Family Office, which serves clients with more than $10 million in investable assets, will offer investment management services at a reduced percentage of assets under management.

Joseph Klein, a former senior analyst at Hightower Advisors, has been hired to serve as director of services and planning. Other key personnel include an industry veteran, Phillip Barnhill, who will lead the risk management function, the release said. Barnhill joined the Bahnsen Group in July, when his Minneapolis-based firm, Story Capital, was hired by the Bahnsen Group. Story Capital served C-suite and other senior corporate executives in the Twin Cities area.

“The key to this family office service is the right personnel,” David Bahnsen, founder and managing partner of the Bahnsen Group, said in a statement. “Our team has worked tirelessly and committed significant resources to assemble professionals who have the sophistication, experience, and gravitas to launch this family office service. This is the family office product I have dreamed of for many years,” he added.

Bahnsen also explained that the firm has long offered a full suite of services in its wealth management. But the bundling a variety of financial management services under a fixed fee is new. “We want our family office clients to experience the integrated service many talk about, but few deliver. And we want that integration to be manifested in the simplicity of the cost structure, and especially in the elegance of the services,” he said.

The release noted that the suite of tax planning and preparation services included in the offering is driven by the firm’s in-house affiliation with Klarin & Associates, a Newport Beach, Calif.-based full-service tax, accounting and business consulting firm. It further noted that the firm has hired in-house controllers to assist with client bookkeeping and reporting functions, in addition to high-level estate planning and philanthropic consultation.

The Bahnsen Group was founded in April 2015 by Bahnsen. The firm has offices in Newport Beach, Calif., New York City and Minneapolis. Bahnsen, who spent eight years as a chairman’s club managing director at Morgan Stanley and seven years as a first vice president at UBS Financial Services, also is a frequent guest on Fox Business, CNBC and Bloomberg, and is a regular contributor to National Review and Forbes.

He is the author several books, including "Crisis of Responsibility: Our Cultural Addiction to Blame and How You Can Cure It" and "Elizabeth Warren: How Her Presidency Would Destroy the Middle Class and the American Dream (2020)."