Prescott Securities is to offer “family office” services, and has appointed Malcolm Caire to run the Adelaide-based business.

“The family office concept is a one-stop financial services model, usually only available to wealthy families,” Mr Caire said.

“It involves the firm marshalling and managing any financial service needed by the client, from insurance, wealth management, lending, accounting, specialist self-managed super fund services, tax advice, succession and estate planning.”

As Manager and Head of Advisory Services, Mr Caire will oversee the introduction of a family office service for all Prescott Securities clients.

The move is a response to growing demand for a broader range of financial services.

“A rapidly globalising market means fulfilling the expanding needs and expectations of clients naturally requires extended resources delivered under increasingly complex business conditions,” Mr Caire said.

“As such, clients are seeking more and more specialised services under one roof, in addition to traditional wealth advisory and stock recommendations.”

He says the family office fee structure will make the service attractive.

“We know from our experience if one has a trusted relationship with a firm or professional, the provision of further related services from this source is both valued and welcomed,” Mr Caire said. “This is the foundation of… family office or one-stop-shop offerings.”