Objectives and liquidity
Understand the purposes the family’s resources need to serve, including planned spending, business commitments and longer-term goals. Identify the questions that should guide investment discussions.
FAMILY OFFICE SERVICES / 02
Global Wealth Strategy
Connect the family’s financial resources, obligations and long-term priorities in one coordinated view.
THE PURPOSE
A clearer framework for the decisions ahead.
A family’s wealth may sit across investment portfolios, business interests, property and different ownership structures. Looking at these separately can make it difficult to see how decisions in one area affect commitments elsewhere.
AREAS OF SUPPORT
What the work can include.
Coordination across advisers
Clarify the roles of existing investment managers and other advisers. Organize discussions around the family’s objectives, responsibilities and the information needed to review progress.
Reporting and review
Bring relevant information into a consistent reporting framework. Make room to discuss asset allocation, concentration, liquidity and changes in the family’s priorities with the appropriate specialists.
FAMILY PRIORITIES
When this may be useful.
- Different managers or structures make it difficult to see the overall position.
- Business and personal commitments need to be considered together.
- A transition has changed the family’s priorities and the questions it wants to ask its advisers.
WORKING TOGETHER
From discussion to an agreed plan.
Start with an overview of assets, commitments, decision-makers and existing advisers. Agree the scope and limitations of the information available, define the questions to resolve and establish a review format that supports informed discussions.
Possible working documents
An agreed scope may include an overview of the family’s financial arrangements, documented objectives, an adviser responsibility map and a reporting or review calendar.
The scope, responsibilities and terms should be agreed before work begins. These examples describe areas for discussion, rather than a fixed package.