Effective family wealth management integrates individual, personal and family goals and encompasses a range of services required. To account for the complexity and idiosyncratic nature of family offices, Deloitte offers customised solutions in the areas of Financial Strategy & Compliance, Family & Corporate Governance, Operations & Systems as well as Tax & Wealth Structuring.
As a leading global provider of audit, tax and consulting services supported by a worldwide network, Deloitte Luxembourg has extensive resources at hand enabling it to provide tailor-made solutions to Family Offices and wealthy families.
Family Office topics are directly linked to strategic considerations about investment underlying, style, mix and regulatory constraints. To keep up with changes and various industry trends, our professionals are committed to creating opportunities that help you become better connected within Family Office networks and understand the ever-changing regulatory requirements. Supported by an international network of specialists, Deloitte can provide an extended framework of services to meet the objectives of single Family Offices and Multi-Family Offices.
The operational readiness of Family Offices must be ensured by a cost- and time-efficient set-up of processes and by the selection of qualified personnel. Governance and Education must ensure a continuous consideration of the appropriate balance of responsibilities and the exchange of long-term objectives by all involved parties. Furthermore, families often require and promote responsible and ethical behaviour that is elementary for maintaining a trusting and altruistic future for a family’s heritage and wealth. In this regard, the family’s businesses and its private investments are closely linked. Therefore, understanding and managing a family business and its various activities builds on an increasingly in-depth financial awareness. Deloitte has expertise in the use of a variety of educational resources and project management tools that will allow a Family Office to handle and solve governance related issues appropriately.
Present-day Family Offices are complex service providers that use a variety of systems for asset management, accounting, CRM purposes, etc. These systems document all activities potentially connected to family wealth– from holdings in group companies to charity support projects. To ensure an efficient and secure management of family wealth, the consolidation of all diverse systems and assets to provide a comprehensive overview is becoming increasingly important. Deloitte professionals are familiar with their clients’ business sector and the key issues they face.
The location of a Family Office should provide various vehicles to optimise its structural design based on specified business and non-business related objectives. It is in the (U)HNWI’s/family’s interest to use these structures to allow for a maximum level of wealth preservation via beneficial tax structures with a high level of business flexibility. Appropriate structuring requires an analysis of tax and governance considerations, as well as an in-depth understanding of the family’s short and long term business and professional goals and objectives.