There is an ever increasing number of family offices
being established by wealthy families. Executive Directors and
family office specialists, Richard Joynt and Amy Collins take a quick look at some of
the main reasons these offices are being set up.
Confidentiality & discretion
High-net-worth individuals (HNWIs) are highly sensitive to
maintaining confidentiality for a variety of legitimate reasons,
and setting up their own single family office (SFO) or hand-picked
multi-family office (MFO) gives them the confidence and peace of
mind that their information and data is being kept
confidential.
Trust
Often HNWIs will employ professional advisers who they have
worked with for some time and who they have grown to trust with
their affairs. By engaging those advisers directly in their own
family office, they can maintain that trusted relationship.
