How to Use This Tool Effectively

FOX recommends that a private wealth owner or the family office representative take the following steps when using this tool:

1. Look through the lists to see which questions are pertinent to your family situation in your work with a specific service provider.
2. Edit the questions to reflect particular information requirements.
3. Once the questions are finalized, inform the service provider of the questions that will be asked in advance of an interview so that they will be prepared to answer them comprehensively.
4. Go through the list of questions at the interview and request more information when an answer is not clear.

Taking these steps will ensure that use of this questionnaire creates greater transparency rather than additional confusion.

This questionnaire is not intended as a Request for Proposal (RFP) document but rather as an aid for face-to-face discussions with potential or current service providers. To send this document as an RFP and request thorough, written replies would place a burdensome task on the service provider and may not provide the wealth owner with the information needed. Rather, the response would most likely be a large document designed more to guard against liability than provide clarity.