The Family Office : An past present and future approach

In the face of often complex needs of people who have large and important family wealth a team of specialists with a single interlocutor is more and more being grouped into a unit called the family office.

Article also available in : English EN | français FR

The steps involved in managing this wealth are complex thus necessitating multiple numbers of financial intermediaries (accounting, advisory, financial legal...) the way of the future is certainly to have a singe interlocutor backed up by a number of specialists.

More and more, private businesses do not have only financial management on their portfolio , but include other strategic services such as legal advice, research on optimised taxation...

The ideal of a family office first appeared in the United States during the 19th Century. The family Office is, both an old and new service but it is certainly still a way of the future for management of family wealth

The services of the family office are aimed at wealthy clients that want to maintain the value of their wealth long term, but who also wish to delegate to someone a large part of the management of different problematic areas.

More specifically the services of the family office are aimed at clients which have complex wealth portfolios by its nature (example a family business) and because of the composition of their personal possessions (overseas properties for example) or because of its mere size.

In the case of wealth management, many clients rely more and more on the services of a Family Office. These services integrated into one enable the business to simplify daily running and better solve their different problems.

The aim of the services of the family office is to contribute to the family harmony while guaranteeing the inheritance interests of the family.

The family office allows the family wanting to build on their wealth, to balance the management of their projects and secure an inheritance for future generations.

Dedicated specialists in multiple fields are there to assist different clients to function according to their own specific needs. The Family office will solicit experts in total transparency whatever their origin or professional alignment, merging the most suitable competencies. The family office will then centralise and co-ordinate into one, all these mediators with a view to offering the client a long term and evolving wealth strategy.

Next Finance June 2011

Article also available in : English EN | français FR




In the same section