Family Office: Understanding Your Client’s Flight Path

12.3.18

Let’s Talk About the World of Private Aviation

In the world of private aviation, your clients will  likely make many changes over the course of their aviation journey. We call it your FlightPath. It’s wise to map this trend and review the findings with an aviation professional to  assess every point of change. By having an overview of your client’s needs, it makes the many options available much easier to understand and find the best solution to suit their unique situation – not how to fit your needs into one limited product.

As your clients may transition between Charter Flights, Jet Cards, Fractional Ownership and Whole Ownership a keen understanding is paramount as some of these solutions can be complicated. Family Offices provide an essential service in guiding decision making in conjunction with the wishes and desires of the family, while keeping risk and financial exposure at bay. Below are some areas to review and understand with your clients:

For Aircraft Owners

Perform Annual Assessments

• Current Appraised Jet Value
• Utility Assessment
• All-In Private Aircraft Cost Review
• Market Trends
• Other Private Jet Travel Opportunities

For Non-Aircraft Owners

Begin the Conversation

• Explore all of the private jet travel options and annual hour utilization
• Document key features your clients requires
• Protect their transactions with aviation attorneys, tax advisors, insurance, etc
• Understand how your clients can get in and out of a private aviation options without incurring unnecessary costs

Jet Ownership Tools (Provided by Priester to Family Offices)

• Aviation Cost Comparisons
• Aircraft Appraisal
• Operating Forecast
• Market Trend Reports

Priester Aviation assists in providing a suite of tools to maximize a client’s travel experience. Our client profiles range from experienced aircraft owners to those that are looking to explore private travel options for the first time.

Priester has also introduced an exclusive partnership with Fractrade which provides a strengthened approach to assist discerning travelers with an aim to redefine the way travelers experience private aviation. Partnering with the Fractrade team expands Priester’s offering to family offices with support in evaluating private aviation options – think of Priester Aviation and Fractrade as an extension of your family office.

Priester Aviation is a proud partner firm of Family Wealth Alliance