Family Office Development

In our experience each Single Family Office is distinct and designed to serve the specific needs of the principal or founding family. The key question we ask our clients is related to the purpose of the office. Does their existing office fulfil its requirements? For those clients considering a new office we help them evaluate if this structure is really required and if so how it should be created and managed? 
We work alongside a family’s professional advisers throughout the process.
Existing Office 
This could comprise some or all of the following:
  • Grow the office in an organic way, including hiring, employee assessment and development.
  • Consolidate or adapt trust, wealth management and philanthropy structures. Incorporate best practice.
  • Ensure family succession is appropriately considered.
  • Evaluate investment strategy and risk management procedures.
  • Ensure adequate controls, clear governance and reporting lines.
  • Identify and recommend partners for outsourcing if required.
New Office 
  • What is the vision for the family as described in a family charter, and the vision for the family office?
  • Is there an intention to serve other families, thus becoming a Multi Family Office, or just to serve the single family?
  • Is there a business linked to the family office, or has the business been sold? 
  • What staffing is required in house across family professional services, investment related services, risk management, general advisory services and administrative activities?
  • How will the team be led, function and be held accountable? 
  • How does the family office avoid operating as a cost centre?