Such as with medicine – one goes to the doctor (for say) shortness of breath and there may be several different doctors – all with their own separate specialties – looking into the patient’s health problems, but only through their own perspective (specialty). No one is coordinating the overall health care efforts, acting as a director (if you will) for the patient.
This is the scenario when dealing with many high net worth individuals and their family’s financial affairs as well as other personal needs; no one is taking a holistic approach in dealing with the family’s overall goals and needs.
"As the Family CFO, you should be driving the client, not the converse". You [then] should be challenging the (current) thought process; making recommendations, helping set the course of action, mapping out plans; overseeing, directing and managing the Service Providers (specialty vendor’s who are engaged in the process of helping the family based on their niche expertise); keeping them focused and on course. You become the director, the coach, the consultant, the advocate - and at times - the mediator.
