Enquiry line: +44 207 998 0570
connect@fwm.gi
Available 9:00am - 5:30pm (CET)

Navigating wealth management with a family office.

We offer advisory and consulting services to families requiring assistance with the management of family wealth.

We provide a suite of services which are tailored based on the family’s circumstances and requirements. It’s possible to buy-in specific services on the following basis:

  • Outsourced service for an UHNW family.
  • Extension to a Single Family Office.
  • Ad hoc special projects for UHNW families.

Our Services Include:

Accounting and Reporting

  • Annual Consolidated Net Worth Statements.
  • Consolidated Overview of Investment Portfolios.
  • Budgeting and Cost Control.
  • Cash Flow Analysis.

Asset Risk Management

  • Defining the family’s needs and Investment Objectives.
  • Client Risk Profiling and Suitability Assessment.
  • Designing and/or Reviewing of Investment Policy Statement.
  • Establishing Performance Benchmarks.
  • Asset Allocation Modelling.
  • Beauty Parade and Investment Manager Selection.
  • Portfolio Performance Monitoring.
  • Fee Negotiation and Agreement.
  • Second Opinion and reviewing investment proposals.
  • Quarterly performance reviews against appropriate benchmarks
  • Private Client Reporting: presenting a consolidated global snapshot of family global wealth
  • Acting as Protectors.

Banking Relationships

  • Global advice on your banking and custodian relationships.
  • Opening bank accounts on your behalf.
  • Consolidation and restructuring of all type of credit facilities.
  • Raising finance for a multitude of purposes.

Insurances

  • Evaluating insurance requirements.
  • Ensuring adequate insurance cover in place to protect wealth and assets.
  • Life & Health Insurance.

Professional Advisers

  • Sourcing, coordinating and working closely with a dedicated team of international legal, tax and financial experts to address complex cross-border issues. Whether it is fiduciary services, private client tax and trusts or corporate services; we are able to provide best of breed and holistic advice for smaller as well as larger family offices.
DOWNLOAD YOUR
FAMILY OFFICE
GUIDE 
TODAY
Family Office Guide Image

Frequently Asked Questions about Family Office and Private Office Services for UHNW family.

As UHNW families navigate the complexities of managing their wealth and financial affairs while living abroad, a Family Office Service provides a comprehensive solution tailored to their unique needs.

This FAQ aims to address common questions and concerns regarding Family Office Services for UHNW families. Whether you are a high-net-worth individual, a business owner, or a family seeking expert assistance in wealth management, tax planning, estate planning, and other financial matters, understanding the benefits and considerations of a Family Office or Private Office Service is essential.

By delving into key aspects such as personalized financial advice, multi-generational wealth preservation, and specialized services, this FAQ will help wealthy UHNW families make informed decisions and ensure the effective management and protection of their wealth, allowing them to focus on their personal and professional endeavours while living abroad.

Here are some frequently asked questions to help you understand family office services:

A family office is a comprehensive wealth management solution tailored to high-net-worth individuals and families. It provides a range of personalized services, including investment management, financial planning, tax advisory, estate and succession planning, philanthropy, and lifestyle management. Family offices aim to preserve and grow wealth, meet financial goals, and address the unique needs of affluent families across generations.

Family offices offer a wide range of services tailored to the specific needs of each client.

Common services include:

Investment Management: Professional management of investment portfolios, asset allocation, and risk management.

Financial Planning: Holistic financial planning, including retirement planning, tax optimization, cash flow management, and goal setting.

Estate Planning: Strategies to preserve wealth and efficiently transfer assets to future generations, including wills, trusts, and succession planning.

Tax Advisory: Expert guidance on tax planning, compliance, and optimization of tax liabilities across multiple jurisdictions.

Philanthropy: Assistance in creating and managing philanthropic initiatives, including charitable giving and impact investing.

Lifestyle Management: Concierge services such as travel arrangements, property management, and personal administration.

The need for a family office depends on the complexity of your financial situation and the level of support you require. If you have significant wealth, multiple investments, diverse assets, and complex tax obligations across different countries, a family office can provide invaluable expertise and coordination. It ensures that your financial affairs are managed comprehensively, allowing you to focus on your personal and professional pursuits.

Yes, family offices often specialize in international tax planning for UHNW families. They have the expertise to navigate the complexities of tax systems in different jurisdictions, ensuring compliance while optimizing tax efficiency. They can provide guidance on residency rules, tax treaties, offshore structures, and cross-border investments, helping you minimize tax liabilities and maximize wealth preservation.

Selecting the right family office is crucial for a successful long-term relationship. Consider the following factors:

Expertise and Experience: Evaluate the family office's track record, expertise in wealth management, and experience working with British expats.

Services Offered: Assess the range of services provided and ensure they align with your specific needs.

Customization: Look for a family office that can tailor its services to your unique financial situation, goals, and preferences.

Reputation and Trust: Research the family office's reputation, client testimonials, and credentials to ensure trustworthiness and professionalism.

Communication and Accessibility: Consider the accessibility and communication channels offered by the family office. Ensure they can meet your expectations for responsiveness and regular updates.

Working with a family office offers several benefits for an UHNW family, including:

Holistic Approach: Family offices take a comprehensive view of your financial situation, addressing all aspects of wealth management and planning.

Expertise and Guidance: Access to a team of professionals with expertise in investment management, tax advisory, estate planning, and other specialized areas.

Coordination and Integration: Family offices coordinate various financial activities and professionals on your behalf, ensuring a cohesive and efficient approach.

Tailored Solutions: Family offices provide customized solutions that are specifically designed to meet your unique needs and goals. They take into account your financial circumstances, risk tolerance, and long-term objectives to develop strategies that align with your requirements. Whether you need assistance with international tax planning, cross-border investments, or wealth preservation, a family office can tailor their services to address your specific challenges and opportunities.

Confidentiality and privacy are paramount for family offices. They adhere to strict protocols and industry standards to safeguard your sensitive financial information. Family offices have robust security measures in place, including secure data storage, restricted access to client information, and confidentiality agreements with their staff. When choosing a family office, ensure they have a strong reputation for maintaining the privacy and confidentiality of their clients.

Yes, one of the key advantages of a family office is their expertise in multi-generational wealth transfer basically succession planning. They can help you develop a comprehensive estate plan that ensures a smooth transition of assets to future generations. This includes strategies such as establishing trusts, creating charitable foundations, and implementing governance structures to preserve and protect your wealth for your heirs.

The costs of family office services vary depending on the level of customization and services provided. Family offices typically charge a fee based on a percentage of your assets under management or a retainer fee. It's important to discuss the fee structure with the family office upfront and understand the services included in the fee. While family office services may involve higher costs compared to traditional wealth management solutions, the comprehensive support and expertise they offer can outweigh the expenses for high-net-worth individuals and families.

To get started with a family office, begin by researching reputable family offices that specialize in serving UHNW families. Consider their expertise, services offered, and client reviews. Schedule initial consultations with a few family offices to discuss your needs, objectives, and expectations. This will allow you to evaluate their capabilities and determine if there is a good fit. Choosing the right family office is a significant decision, so take your time, ask questions, and make sure you feel comfortable and confident in their ability to handle your wealth management requirements.

Summary

Remember, family offices can provide comprehensive support and guidance for UHNW families with complex financial needs. Their expertise in investment management, tax planning, succession planning, and other areas can help you navigate the challenges of managing wealth across borders while ensuring long-term financial security and success.

Talk to Us

To speak directly to a family office expert about our single family office and multi-family office services or for further information please call us on Tel: +44 207 998 0570 or email connect@fwm.gi