Family office survey - Measuring the market | Whitepaper
In light of the upcoming supervision of the family office (FO) sector in Luxembourg, Deloitte Luxembourg is pleased to present you the results and trends of its survey conducted on the family office market in Luxembourg between November 2011 and March 2012.
Luxembourg is well positioned to play a significant role in the family office market, given its renowned experience and expertise in terms of financial structuring and wealth management, and the wide range of regulatory solutions and niches combined with political and economic stability.
Thus, the Luxembourg government is currently encouraging a new pillar to foster the financial industry in Luxembourg and intends to create a legal framework for family offices.
The law project #6366/01 intends to regulate this profession, which is currently only regulated in the U.S. and Dubai. It states that “Family Office activities consist in providing, on a professional level, patrimonial-related advice or services to private individuals, families or patrimonial entities founded/owned by or benefiting private individuals or families”.
This survey was aimed at clarifying the characteristics of the family office market, for which information data, players and the spectrum of services offered in Luxembourg had not been released or clearly identified up to now.
We would like to thank the L.A.F.O. (Luxembourg Association for Family Offices) and in particular its President and Vice President, Jean Fuchs and Serge Krancenblum respectively, for their invaluable involvement in this study.
We also thank all the participants we interviewed for this survey who contributed to making it a great success and a significant source of information for players in the family office market both in Luxembourg and abroad.
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