Introduction to family office management
The concept of family office has become increasingly relevant in the wealth management landscape. These entities, created to manage the assets of wealthy families, deal with investments, tax planning and succession. With the increase in asset complexity, it is essential to understand how to effectively structure a family office to ensure the continuity and growth of assets
over time.
The professionalization of asset management
A family office must be managed professionally to face the challenges of the current market. It is essential to consider the inclusion of external members on the board of directors, with specific expertise in the financial and industrial fields. This approach not only enriches strategic decisions, but also offers an external perspective that can prove crucial in times of crisis or change. Creating a family card can help define engagement criteria for future directors, ensuring that the required skills are respected
.
Governance and succession: a crucial issue
Governance is a fundamental aspect for the success of a family office. It is important to establish who will have control of the share capital and how the right to vote at meetings will be managed. Succession decisions must be carefully planned to avoid conflicts between family members. The figure of the working partner can be an effective solution for stabilizing family dynamics, especially in the context of partnerships. In addition, it is crucial to protect the rights of minority shareholders, ensuring that they have a say in strategic decisions
.
Preparing for the future of the family office
Adequate preparation for the future of the family office is essential. This not only involves strategic tax planning, but also the creation of an environment favorable to asset growth. Families must be ready to face the challenges of generational change, ensuring that values and skills are transmitted to new generations. Training and informing non-operational members are equally important, as they contribute to a more inclusive and conscious governance
.