July 14, 2011 — The Abernathy Group II, one of the oldest investment firms in the nation devoted to the medical profession, announced the launch of a new Specialty Multi-Family Office for high-net worth doctors, The Abernathy Group II Physician Family Office (PFO).
This Physician Family Office is governed by an Advisory Board of thought-leading physicians and managed by proven investment professionals with audited track records. The effort plans to ensure the medical profession has access to top-notch investment managers normally unavailable to investors, while avoiding the high fees and commissions typically associated with the financial services industry.
A multi-family office is a professional entity designed to manage the investments, business affairs, and Trusts across multiple generations for high-net-worth families confidentially.
The two principals of The Abernathy Group II Physician Family Office, Steven Abernathy and his partner, Brian Luster, will provide the capital, as needed, to fund operations and build the business.
“Steven [Abernathy] and I are personally funding the Physician Family Office as a testament of our commitment to the physician community. This funding creates what we believe to be the first, true, multi-family office designed to handle the unique financial needs of thought-leading physicians. Our goal is to give medical doctors access to the best financial minds, and professional investors available, at cost, for dedicating their lives to science which has greatly increased our life-expectancy,” says Luster.
Abernathy added, “It is time the community of physicians devoting their lives to our welfare had access to financial experts so they can continue to focus on what they do best, while ensuring their assets are as well cared for as we are, under their care.”
Source: The Abernathy Group II, www.abbygroup.com
Reference
1PE Database, http://www.pedatabase.com/private-equity-glossary/term.php/118/General/Family-office
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