Family Office Financial Plan

The template centres on a $500m investable pool split across public equities, fixed income, private equity, real estate, and cash. Each asset class contributes cash yield and, for equities and real estate, unrealised capital appreciation.

• Investment returns are calculated on prior-period closing balances, so asset growth compounds from actual portfolio roll-forward. Operating costs are built bottom-up, starting with staff compensation for eight full-time equivalents, plus technology, professional fees, rent, insurance, and other expenses.
• All lines escalate with an inflation assumption, keeping cost growth tied to a single input rather than separate escalators. Family distributions are modelled as a percentage of opening assets, giving a direct link between portfolio size and lifestyle spending.
• Private equity sits apart from the liquid sleeve. The model tracks a total commitment, an unfunded pool, capital calls drawn each year, and an opening funded net asset value derived from commitment less unfunded capital.

Distributions remain zero during the early J-curve years, then begin as a rate applied to fund NAV. This structure reflects how private capital moves from cash out to cash back over time.

Cash flow is the model's single source of truth for closing cash, and other sheets read that figure rather than recalculating it. The flow starts with opening cash, adds yield from each asset class and any private equity distributions, then subtracts capital calls, operating expenses, family distributions, interest expense, and taxes.

• Interest expense is ordered before tax so any borrowing cost is visible before the tax calculation. Taxes are split: ordinary income tax applies to cash yield such as dividends, interest, and rent, while capital gains tax applies only to realised gains and the taxable portion of private equity distributions.
• Return of capital from private equity is separated from gain so the full distribution is not taxed. Closing cash then feeds the portfolio build and balance sheet.

The model produces per-class asset balances, total assets under management, a balance sheet with contributed capital and retained earnings, and a cash flow statement. Operating expenses appear as a bottom-up P&L with an inflation escalator.

• Distributions and tax are shown together, allowing the family to see how much cash leaves the portfolio and how much goes to tax authorities. Private markets output includes unfunded commitment, capital calls, distributions, and NAV.
• A checks sheet runs eight quantitative validations across all seven projection years, covering balance sheet balance, minimum cash buffer, allocation totals, unfunded commitment staying non-negative, operating expense ratios, liquidity coverage, distribution affordability, and private equity concentration relative to target. These checks are useful for spotting when assumptions push the plan outside intended guardrails.

This model is suited to testing whether a $500m single-family office can sustain a given spending rate while funding private equity calls and covering operating costs. By adjusting allocation, return assumptions, distribution rate, and inflation, a reviewer can observe how closing cash and retained earnings respond over the projection horizon.

• The model does not include scenario toggles or sensitivity tables, so it works best as a single-path base case that can be manually re-run with changed inputs. It also does not model debt beyond an optional margin loan, and it omits charitable deductions.
• The public download is a values-only preview of the underlying model rather than a live, recalculating workbook, so it should be used to understand structure and relationships rather than as an operational planning tool without rebuilding the formulas.