A family office is an organisation created to oversee and manage the financial needs of a specific family, including effectively transferring wealth across generations.
Family offices typically operate like a company, have employees and can be organised as a separate entity or they may be embedded in a family operating company.
Family offices have evolved to address a range of challenges and needs:
Protecting family wealth
Managing investment risk
Improving family cohesion and generational transition
Clarifying governance over how the family stewards its wealth
Managing the personal affairs of family members
Helping you to seize opportunities, manage risks, make a positive impact and protect your family legacy.
Based on 2022 Next Gen survey, every generation is focussed on one thing which is growth. To grow, they knew that they need to find something new.
What you do next will ensure business growth, maintain family cohesion and preserve everyone’s wealth for the future.
Here with PwC Family Office, we provide a holistic service that will help you grow the Family. We understand starting is not easy. Therefore, we help you in every step of your journey.
Our holistic approach will help you to build your family office in 4 steps:
We are with you in every step of your journey:
At PwC, we want the family office to support the strategy and legacy of your family. A family-owned business often strives to find a good balance between professional management, responsible ownership and a healthy family dynamic.
A family office can take the weight off family members by delivering professional services and management of many business and personal needs.
Creating a successful family office requires strategic planning and design. With decades of experience, we can prepare you for each step of the way - from assessment and visioning to work plans and implementation. Together, we can help you design a strategy to manage the complexity that comes with a family-owned business.
Wealth Compass is a wealth management platform and reporting tool for family offices that provides near real-time visibility into consolidated balance sheets and net worth statements, including liquid and private assets. With PwC’s services, you’ll have the data and insights needed to evaluate investment performance and help manage risk so you can protect and build your wealth over time.
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Wealth Compass consists of two modules that are customized and delivered to your family office by PwC professionals. Enabled by the Masttro wealth management platform, the portfolio insights module provides a holistic view into your portfolio to help with data-driven decisions, analysis and risk management.
Date: 15 June 2023
