Why create a Family Office

There are many reasons for the creation of a family office, each family member will have their own views as to the services, protections and help which they would expect to be provided from individuals handling their affairs from with in the a family office. Some considerations are provided below;

Sale of a business which generates substantial liquid assets. 

Family’s financial assets grow to a level that requires full time professional management.

Time required by family members to manage family personal assets is detracting from the effective running of the family business.

Family members want to separate management of their personal financial assets from those of the business for the purposes of confidentiality.

Family has become multi-generational, expertise involvement of the patriarch/matriarch is no longer available, whilst the next generation is either not willing or capable of taking on the asset management responsibility.

Needs of a growing number of family members, requiring increasingly diverse asset management services, can no longer be effectively met by the family’s existing resources.