Family Office Services: an integrated and holistic approach

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 Family Office Services: an integrated and holistic approach

Comprehensive and integrated approach helps business families to understand the options available in setting up a family office, how to structure their wealth and preserve it for future generations.

Your wealth has a long history. Make sure it has a great future!

As an entrepreneurial family, you have to make important decisions. Some will have far-reaching consequences for your family’s financial future.

Whether you are deciding on a long-term investment strategy, or considering setting up a foundation, a dedicated off shore trust lawyer or accountant  will help you debate all the issues from economic, tax, legal and strategic perspectives. You can also count on their r support to help you choose external service providers.

They have all the right answers to the key questions

When your family’s wealth is at stake, you want to do everything right. This is precisely where we come in. We support you and your family office in all areas by providing you with answers to the most important questions:

  • How can family wealth best be preserved and increased?
  • How do I identify and unlock further potential?
  • When does outsourcing services make sense?
  • How can responsibilities best be divided up?
  • How can the family best monitor success?
  • What expertise should the family’s most important decision-makers have access to?
  • Which strategy is the most effective for charitable activities?
  • Which internal and external risks should be avoided, and how?
  • What costs are to be expected?

Why set up a single family office? Advantages for family and wealth

They  have identified seven great reasons for setting up your own family office:

  • Central coordination of wealth structuring in order to create an integrated asset strategy at a low cost
  • Cooperation with service providers that are attuned to the family and its special characteristics
  • Increased independence from banks
  • Quick decision-making routes and streamlined reporting with the objective of reducing costs
  • Securing the family’s future by implementing governance systems that preserve not only the family’s values and vision, but also its legacy
  • Absolute confidentiality
  • A safety net in case the leading decision-maker is incapacitated at a time when important changes need to be made to the family’s strategic direction, or if succession arrangements need to be put in place

Family Office Guide: Pathway to successful family and wealth management

The EY Family Office Guide: Pathway to successful family and wealth management is downloadable. This report attempts to define the family office in authoritative detail. It looks at issues such as: the reasons for setting up a family office; key staffing concerns; which services a family office should cover and which should be outsourced; how to optimize investment functions and to ensure they work for the benefit of the family. The report also looks at regulatory and tax issues in key markets, which anyone considering setting up a family office needs to know about. It also addresses the relationship between the family and the external professionals who are brought in to run a family office. It is crucial for a family office to establish a balance between these two groups if it is to function well.  A number of case studies, including the personal experiences of family office practitioners, are used to help to bring the detailed analysis in this report to life.



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