Cybersecurity is becoming an increasingly essential topic for family offices. For this, Deloitte has published its own family office cybersecurity report. Focusing on IT security makes sense since family offices are becoming more and more often subject to cyberattacks. This also plays an important role in the IT management of the largest US family offices. …
In this article, we describe how to structure good family office board meetings – from the initial design of objectives to a follow-up after the meeting. Step 1: Define the Meeting Purpose and Objectives Begin by clearly defining the purpose of the meeting. Is it a regular review of investments, a discussion on governance policies, …
In this article, we describe the important structure of family office board meetings. Many family offices, like Bessemer Trust, offer this service for their clients. What Are Family Office Board Meetings? Family office board meetings are structured gatherings of key stakeholders within a family office to discuss strategy, governance, and the management of family assets. …
In this article series, we define key concepts of family office services. Wealth transfer planning is offered by many US multi family offices, such as Alpha Capital. What is Wealth Transfer Planning? Wealth transfer planning involves the strategic distribution of assets from one generation to the next. Within the realm of family office services, it …
A “lifestyle concierge” service, as offered by family offices, refers to providing personalised assistance and managing non-financial aspects of a family’s daily life. The objective of this service is to enhance convenience, save time, and support a luxurious and well-organised lifestyle. This service is designed for high-net-worth (HNW) and ultra-high-net-worth (UHNW) families, with the objective …
In the context of family offices, the term ‘multi-generational family’ describes a household or extended family group spanning two or more generations. These families are often unified by shared wealth, businesses, or other significant financial assets. Such families often comprise grandparents, parents, children, and occasionally even great-grandchildren, all of whom may have an interest in …
The term UHNW, or Ultra-High-Net-Worth, is used to describe individuals or families with investable assets exceeding $30 million. This classification is employed within the financial and wealth management industries to differentiate the wealthiest clients from other categories, such as High-Net-Worth (HNW) individuals, whose assets commence at $1 million. The UHNW designation serves to highlight the …
For artists and galleries, securing investment from a family office can be a significant achievement. Family offices often seek unique and valuable artwork for their collections. Here are five strategies to attract investment from a family office for your artwork. 1. Understand the Investment Preferences of Family Offices Overview: Family offices may have specific preferences …
Luxembourg has emerged as a preferred destination for single family offices. This small European country offers a unique combination of financial, legal, and lifestyle benefits that are attractive to high-net-worth families. Here are five key reasons driving this trend. 1. Favorable Regulatory Environment Overview: Luxembourg offers a well-regulated and secure financial environment, which is a …
Family offices are integral to global wealth management, offering bespoke services to high-net-worth families. Certain cities around the world have become key hubs for these family offices, thanks to their favorable business climates, financial expertise, and quality of life. This article highlights the top five global hubs for family offices. 1. New York City, United …