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Family Office Services – Governance

At the heart of any family office is investment management. However, a fully developed family office can provide a number of other services, which range from training and education to ensuring that best practices are followed in family governance. Let´s have a look at Governance:

Administrative Services

Administrative services, or back-office services, are essential to the smooth running of family office. These services include:

  • Support on general legal issues.
  • Payment of invoices and taxes, and arranging tax compliance.
  • Bill payment and review of expenses for authorization.
  • Openning bank accounts.
  • Bank statement reconciliation.
  • Employee management and benefits.
  • Legal referrals and management of legal firms.
  • Public relations referral and management of public relations firms.
  • Technology systems referrals and management of these vendors.
  • Compliance and control management.

Succession planning

Ensuring a smooth succession and planning for future generations is integral to the long-term viability of the familyoffice and the family it serves. These services include:

  • Continuity planning relating to unanticipated disruptions in family leadership.
  • Evaluation of strengths, weaknesses, opportunities, and threats (SWOT analysis) of senior executives both within and outside the family.
  • Re-evaluation of the family board regarding the roles of non-family directors..
  • Structuring corporate social responsibility platforms and programs.
  • Development of formal knowledge-sharing and training programs.
  • Implementation of integrational estate transfer plans.
  • Adoption of a family charter or constitution, specifically aiming to:
    • Formalize the agreed structure and mission of the family business.
    • Define roles and responsibilities of family and non-family members.
    • Develop policies and procedures in line with family values and goals.
    • Determine processes to resolve critical business-related family disputes.

Reporting and Record Keeping

The maintenance of records and ensuring there is a strong reporting culture is another core element of a family office´s services. Key to these services are:

  • Consolidating and reporting all family assets.
  • Consolidating performance reporting.
  • Benchmark analysis.
  • Annual performance reporting system.
  • Tax preperation and reporting.

For further questions don´t hesitate to contact us directly.


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