Family office is your trusted manager
Family Office sphere of responsibility includes centralized management of the most important and sensitive questions that may arise for high net worth families.
As a rule, this includes investment management, tax and legal support, ownership structure planning and family business succession, maintenance of consolidated statements.
In order to resolve other issues (training, travel arrangements, treatment, etc.), specialized companies are involved, and family office is responsible for selection, quality control and cost determination of their services.
In Russia, family office services market is rapidly growing in light of capital and business transition from the first wave of entrepreneurs to the next generation and significant changes in tax and banking regulations. Some banks and law firms also provide separate services of a family office in Russia, however, clients more often choose specialized companies for long-term projects, for which a family office business is the main area of expertise.
Who needs the services of a family office?
Family office services are of the highest demand especially when the transfer of business or capital to the next generations is being considered, as well as when there is a transition period of owners from active development of business to the stage of obtaining passive income from investments. Most often, business owners or top managers of large companies, who are not able to devote enough time to the management of their personal capital, are becoming clients of a family office.
A multi-family office usually provides its services to 10-15families. This model allows to reduce expenditures for clients and at the same time maintain the necessary level of personal communication and professionalism of the team. Family office is an alternative to a family doctor in financial, legal and tax spheres. A family office sees a complete financial picture and manages all projects seamlessly. The size of the family office enables it to cooperate with the best banks and consulting firms on special terms that are not available to singular clients.