Family Office

The ultimate expression of holistic planning is the Family Office model. This allows us to advise across multiple generations of the same family, providing a variety of benefits:

  • By knowing the circumstances of several generations of a family, when advising on Estate Planning we are able to take into account not only the wishes of those leaving the assets but the needs of the beneficiaries. This ensures that the assets passed down arrive not only with the right people but in a form that is most useful to them. Additionally, it provides insight into when that would be best to happen, evolving Estate Planning into the wider remit of Succession Planning, including the passing down of monies during the lifetime of those leaving the assets.
  • The administration of lifetime gifts is simplified. This can include parents or grandparents funding ISAs or pensions for younger generations (including minors), which can be hugely beneficial to younger family members because of how early in life their financial planning is started on their behalf.
  • By aggregating the assets of the family members together we are able to minimise charges for all members.
  • Younger members of the family are able to access services that would otherwise be unavailable to them, often because of cost, ‘leveraging’ the value of the family’s total assets.

We should stress that the assets of the family members remain separate within such a model, and individual confidentiality is maintained other than when all parties want disclosure for a particular piece of advice. Furthermore, not everyone will have the desire, or need, for us to work with them in this way. However, where such generational planning is needed, the Family Office model can be hugely beneficial.