Ancillary Services
capturing greater market share ethically…
is the priority of the Caius House initiative on ancillary services for pioneering law firms and other trusted philanthropic advisors.
Law firms and trusted advisors have actively been seeking new ways in which to offer clients time-honored ancillary services such as non-legal government relations and lobbying, estate counseling, philanthropic wealth management, fiduciary assurance, nonprofit board membership training, generational values education for younger generations of their clients, financial planning, trust services, healthcare consulting, and much more.
Our team of professionals has experience in each of these fields and can help law firms and trusted advisors, who wish to expand their own practices with these services, in a manner that is compliant and ethical according to the governing rules of their state.
A $59 Trillion Market
The market for these services is significant. More than $59 trillion is in the process of changing hands generationally through the giving, getting and management of a new generation of preeminent philanthropic gifts, according to Boston College researchers. Charities, they also predict, will receive between $16 trillion to $53 trillion of their own bequests.[1] This money is looking for a home and advisors who have credible advice as to where to invest it, privately and philanthropically. Law firms and trusted advisors offer remarkably stable ways in which to do so.
Our practice area offers clients access to high and ultra high net worth individuals and households; private family foundations; pensions, trusts and endowments; public private partnerships; family offices; community foundations; donor and community advised funds; healthcare systems and academic medical centers; cause-related corporations; and, nonprofits and for-profits wishing to have more favorable public impact.
Key services, which distinguish us from other providers, include:
· Private philanthropic client banking & wealth management
· Actively managed and self-directed trusts & endowments
· Universal investment advisory strategies
· Generosity Preeminent Charitable Funds (charitable initiatives)
· Generosity Preeminent Partner Funds (public/private/philanthropic partnerships)
· Family banks & family office management
· Program Related Investments (PRIs) & venture philanthropy
· Principal gifts & signature naming opportunities
· Fiduciary & trustee assurance
· Estate planning & sophisticated giving
· Tax-advantaged private equity & hedge funds
· International & national nonprofit collaborations
· E3: Confidential Enterprise Excellence Evaluations & solutions
· Virtual planned giving administration
[1] John J. Havens and Paul G. Schervish original results from 2003 reported by David Cay Johnston, “A Larger Legacy May Await Generations X, Y and Z,” The New York Times, October 20 1999 and updated report, Wealth Transfer and Potential for Philanthropy Boston Metropolitan Area Technical Report, reported in March 2013, p. 3.
The benefit of an ancillary services program such as this are many-fold:
An integrated ancillary services program can help a firm capture even greater market share in their targeted market(s);
Pricing for services can differentiate the firm and competitively advantage that firm in an era of tremendous competition;
Encourages an more entrepreneurial approach within a participating firm that can help mitigate the challenges of billable hours with justified flat fees, project fees, and success-based fees;
Brings vital value-added services to a participating practice without compromising traditional legal protocols and traditions;
Attracts more talented young lawyers to your firm who can utilize and leverage these tools at industry best practice standards;
Offsets the competitive impact accounting firms and financial services are presenting practices like yours from lucrative services that do not necessarily require the work of an attorney; and,
Generate; greater profits and return on investment for firms using ancillary services that are properly-structured.
Our team at Caius House can help you and your partners:
Prepare a written plan for an integrated ancillary services program complete with goals and objectives, action items required to succeed, timeline, budget, and expectations measurement;
Assess benefit versus risks of ancillary services initiatives;
Recommend a structure that can be either internal or external;
Prepare a branding and marketing strategy based on that preferred structure;
Determine the staff and management roles the preferred structure will demand; and,
Help educate and promote the ancillary services recommendation to your firm's decision makers.
If you would like to learn more about our ancillary services consulting project, please just let us know through the link below. We look forward to exploring the opportunities ahead with you: