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Family Office – Business Plan Design

Development of a detailed business plan, including the most suitable jurisdiction, services provided (i.e., wealth management, estate planning, philanthropic, personal services, etc.), employee skills required, space needed, anticipated capital, operating costs, measurable benchmarks and funding. 

  • Define operating model:functional setup, reporting, board structure, governance.
    • Separation of private assets from business assets.
    • Consider level of operational versus investment risks.
  • What is the optimal jurisdiction and tax regime in which to set up the family office?
    • Which tax, legal, regulatory framework.
    • Depending on the level of services offered.
  • Draft detailed business plan:
    • Level of in-house services – consider make-or-buy, opportunity costs, potential savings if outsourced.
    • Staffing and recruiting: which roles are required in the family office? CIO, tax adviser, controller, bookkeeper?
    • Outline necessary infrastructure: IT, security, office space.
  • Result of this step: concrete action plan to build family office (e.g., family information document – to be signed by all family members) – obtain commitment of all family members to go ahead.

For questions please contact us directly.

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