Is it time you considered a family office?

Do you have multiple demands on your time? Are you trying to run a business while managing your investment portfolio? Unsure how to structure your wealth or whether to focus on wealth preservation or growth? A family office could hold the answers.

The main goal of a family office is to ensure your wealth is protected and managed for you today and for generations in the future. It can remove the day-to-day burden of administrative and operational tasks while giving you access to a team of experts who can advise you on all aspects of wealth management, from asset allocation to tax and legal requirements and estate planning.

Unlike a traditional financial advisor, a family office coordinates expert advice into one solution, taking a holistic approach to your family’s financial needs and providing guidance and execution that delivers on both your personal and professional goals. It gives you a direct line to these experts, so you can use them as little or as often as you need them. This means you get the full suite of services - and the purchasing power that comes with it - without hiring a large team of high-cost employees.

Reporting and monitoring can be major headaches for our clients, and this is another area where a family office can help. We can generate regular, consolidated asset reports so that you know exactly how your wealth is performing. We also keep a close eye on your investments, monitoring and reviewing the performance of your asset managers, challenging them on their decision-making where necessary. Performance is analyzed using efficient accounting systems, portfolios are compliant with investment guidelines, and relevant information is readily available for tax assessment.

Perhaps you need legal documents drafted or reviewed? Your family office in-house lawyers can ensure a diligent, personalized result. They can also avert any challenging legal or tax issues before they arise by highlighting any potential areas of conflict.

Similarly, intra-family meetings can often be challenging to manage. A family office can take the lead, ensuring they are effective and appropriately documented. It can also assist you in setting up a governance model, including frameworks and transitions within generations, guiding your family through the process of implementation.

By choosing an advisor like Trustmoore, which is independent of any bank, lawyer, or audit firm, you can ensure that your family office is focused on your needs, providing unbiased consulting that is free from any product obligations. There are no sales pitches or over-complicated financial jargon, just targeted, comprehensive advice based on your needs.

Done well, a family office should become a trusted and long-term partner in managing your wealth, growing and adapting to your needs as a family, and ensuring wealth is successfully passed down through generations to come.

If this sounds right for you, please get in touch with our Global Head of Multi-Family Office Services Roland Beunis.