Video:

 

When is a family office justified?

Author: Frank Akers-Douglas

Categories: Family Business, Family companies, Getting advice
Tags: customer service, family office, skilled specialists, tailored approach, wealth
Frank Akers-Douglas:  "We’re of the view that you may be incredibly wealthy but you need probably more than £400 million to your name and your family’s name to really warrant establishing your own family office.  It’s an incredibly expensive thing to do.  You’ve got to recruit good people, you’ve got all the overheads, you’ve got the infrastructure etc, etc.  So you’ve got to be very substantially wealthy in our view for you to justify establishing your own family office.  Therefore, what we would offer to you is a quasi family office services, bringing to you most of what you might want to have in your own family office but taking away from you the financial pressure of maintaining it.  And also giving a degree of independence so that we can give an independent view on the performance of your investment managers etc, etc, which if you have your own internal family office can become more difficult."
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