Why Set Up A Family Office?

Family wealth is a very specific and complex form of wealth in terms of governance. This applies not only to the business itself, but also to the management of liquidity metrics, private equity investments, portfolio equity investments, debt structures, and even personally used assets.

Therefore, it requires a very specific approach. A family office is a tool specifically designed to support families. You can also look for the best family service in Switzerland through various websites.

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Here are some reasons why families should consider setting up a family office:

The most important reason is that it is personal. Family offices are custom made and – unlike other service providers – only work for one customer, the family.

It is also used for confidentiality. Family offices allow families to keep all personal data in a safe place and only accessible to a limited number of people. Therefore, the family office can serve as a guardian and protector of family privacy.

Prosperity is the third reason. Since family wealth is distributed among several family members of different generations with different needs, it will always be necessary to reconcile the accumulation of wealth on the one hand and the financial needs of family members on the other.

Eternity is the other reason why families should consider family office. Family wealth usually has a specific purpose. The family office can help families set clear family goals and thereby support them in creating a legacy from different generations.