Organizational structure
A successfully set up family office primary enables centralisation of all decision making. It ensures that there is a proper governance and management structure, provides privacy to the family, clings interest, allows the family to be able to pursue their real interest and passions, reduces cost, potentially increase retours, provides demarcation between the family owned businesses and the private family wealth and can be instrumental for intra generation wealth transfers.
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The complexity of business and wealth structure for a family that has become spread across the globe requires coordination from a guiding intelligence that understands the family as a whole and how it integrates with its business operations and other assets.
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Single family offices have an opportunity to gain insight into the family affairs in a holistic fashion, integrating issue in various arenas, and to provide services accordingly. This integrated approach adds not only quality and efficiency in the handing of family affairs, but also some protection against unforeseen consequences.
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Define an organizational structure, based on the services you want the family office to perform and consider a central organization as a starting point for performing the most important services.
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Wealth Structure
Activities in a single family office
The activities of a single-family office can consist of managing investments traded on stock exchanges, executing investments in private equity or acquiring commercial real estate, for example. Each family office develops its own focus in this respect. The family office is not only focussed on the day-to-day management of the family wealth, but is also specifically focussed on preserving and growing that wealth over generations, and safeguarding the family values.
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Family office usually reflect the family skills and culture. These skills play a major role in determining the activity focus of the family office.
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