Your Independent Family Office

legacy planning

As ultra-high-net-worth families accumulate financial capital, their needs and responsibilities get more complex and challenging to address. Several forms of the family office services here in Singapore have existed across centuries, often seeing wealthy families organising an inner circle of trusted advisors to centralise the management of their wealth. 

Today, the family office brings renewed relevance as it broadens its role to a more diverse landscape of financial and non-financial needs that include private family wealth management, family governance, legacy planning, knowledge and cultural transfer, philanthropy, investment management, insurance, and management of family-owned businesses amidst global volatility and the emergence of new technologies. These areas must be considered in the broader context of individual members’ desires, family perceptions, as well as macroeconomic and regulatory landscape the families operate within. Yet, family offices’ primary interest remains the same — to support wealthy families’ with a wide range of advisory, professional and operational capabilities to grow and preserve their wealth for generations.

What Is a Family Office?

A family office can take many forms including a single family office or a multi-family office, and is individually designed as a bespoke managerial hub that offers integrated solutions to serve ultra high net worth individuals and families manage their wealth.

Benefits Of Setting Up Your Own Family Office

  • A consolidated and holistic approach to all aspects of intergenerational wealth.
  • Strategies executed through a single point of contact.
  • Engaging multigenerational families with empathy, while delivering long-term value and returns.
  • Creating customised solutions while remaining aligned to their long-term vision and investment strategy.
  • Immediate access to deep collective knowledge and expertise to propose personalised recommendations.  
  • Partnership with best-in-class service providers and financial institutions to offer the most relevant and beneficial solutions.
  • Focused on building enduring relationships based on integrity, trust and transparency. 
  • Objective and effective advisory fully focused on your best interests.

Considerations When Setting Up A Family Office

Setting up a family office can be an extensive process with complex considerations. we understand the challenges families face, especially when it comes to obtaining independent advice. These are some important considerations you can think about when setting up a family office.

Single family office or multi-family office?

A single family office exists to govern and manage assets for one family and is wholly owned by members of the same family where there are large investable assets due to the higher operating cost of sustaining a single family office.

Multi-family offices also work independently to govern the interests of each client family, but offers consolidation of operational expenses such as office space, operational, regulatory and legal resources.

Goals and investment philosophy

Define your core objectives for setting up your family office. This can be driven by your personal wealth transfer plans, tax planning, lifestyle services and investment strategy to frame pertinent needs that will determine the structure of the family office vehicle, and the types of assets to be placed under the family office’s purview.

Relocation and residency

If you would like to set up a family office in Singapore, with plans to relocate yourself or family members, you will have to consider residency statuses that best suit your family’s needs, and apply for the relevant schemes offered by the Singapore government.

Reliable and independent Family Office Advisors

With a firm understanding of your family’s unique needs, independent, trusted advisors can provide unbiased advice, superior service and meaningful relationships. Furthermore, having served other families before, multi-family Office Advisors can leverage knowledge gleaned to arrive at the best solution for client families.

Interested to learn more about what a family office can do for you?