Family Office

Our Family Office is at the heart of our service offering. It is designed to cover everything you would want from your own family office and a lot more. Family office can offer a hub of knowledge, experience and operational capability, which can support the requirements of the family across the whole range of their affairs, from long-term planning to routine transactions and administration.

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A specific structure for every family

​The service is individually designed around the requirements and preferences of your family. Whilst no two families are alike, the family’s history, size and location, the nature of the principal assets and the aptitudes of senior family members will all be key factors in defining your requirements.

All families have one thing in common: the need to plan the practicalities of passing the baton from one generation to the next and laying the foundations for an enduring legacy. This, perhaps above all, is the common theme which helps define our approach.

Strategic advice and key adviser

​Your key adviser is there to act on behalf of the whole family, as required, and to proactively help the family plan for significant decisions which may have a long-term impact.

The key adviser will share the benefits of his or her extensive practical experience of working with other families.​

Specialist advice

We routinely work closely with your family’s other trusted advisers. Where necessary, we procure and coordinate specialist advice on behalf of clients, either from our internal experts or from our wide network of professional contacts around the globe.​

We identify the need, together with the family, and we select and brief the adviser; we apply the advice given to the totality of the situation and we make clear recommendations to the client.

Succession and governance

​We manage the family governance framework to ensure both routine and strategic decisions are consistent with agreed objectives and that they adhere to the agreed decision-making processes.

​We support families in the development of their plans for succession. We frequently chair and facilitate family meetings.

Reporting and transaction support

​Our Family Office provides a full range of high quality administration services. These ensure everything is correctly processed and documented and that all the necessary information is available in the form you want it - to help make sound decisions on a day-to-day basis.

We run bank accounts, operate companies and trust structures, and manage properties, art collections, aircraft, boats and philanthropic foundations.

We support clients in all transactions, including buying or selling businesses, investments, properties, art or leisure assets.

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Frequently Asked Questions

A Family Office is a comprehensive wealth management and advisory service that is tailored to meet the unique needs of affluent families. It serves as a centralised hub of knowledge, experience and operational capability to support the various aspects of a family's affairs, ranging from long-term planning to day-to-day transactions and administration. The structure and services of a Family Office are individually designed around the specific requirements and preferences of each family, taking into account factors such as family history, size, location, principal assets, and the skills of senior family members. The ultimate goal of a Family Office is to assist families in planning for the transfer of wealth from one generation to the next by agreeing a shared purpose and establishing a lasting legacy.

Stonehage Fleming has significant experience in working with successful families from around the world. We have developed a Next Gen programme specifically designed to challenge and enlighten young individuals. This programme aims to introduce delegates to the world of leadership, family dynamics, communication, risk, finance, business and personal development in an informal and stimulating environment. Through a series of interactive sessions, Stonehage Fleming aim is to introduce the Next Gen to the challenges, opportunities and responsibilities ahead and helping them to understand the roles they can play in creating solutions.

Our programme is led by Matthew Fleming and a team of Stonehage Fleming executives, with contributions from external experts and entrepreneurs. We also offer family workshops to prompt difficult conversations, identify and mitigate risks, and create protocols for decision-making to prepare the family for the future. Our team of experts can review existing structures and provide suggestions around tax and estate planning. Additionally, our investments team can provide counsel on asset allocation, manager selection and risk management to help establish a long-term, diversified investment strategy.

Overall, our aim is to support and empower the Next Generation by providing them with the knowledge, skills and resources they need to navigate the complexities of wealth management and family dynamics.

To successfully transfer wealth and skills to the next generation, several key factors are essential:

Effective Leadership Model: Having the right leadership model in place is crucial. This model should encompass individuals with the skills and capabilities to address every aspect of a family's capital. It is important to agree on the purpose of the wealth, the future strategy of the business (if applicable), including succession planning and identifying future leaders.

Structured Preparation: Structured preparation for leadership is essential. This involves providing effective training that nurtures the natural aptitudes of the next generation and gives them enough autonomy to find their own voice and role within the family structure.

Strong Communication: Strong communication is vital to ensure that all leaders and the wider family are kept abreast of the family objectives and the proposed strategy to achieve them. Open and transparent communication helps to align everyone's expectations and foster a shared purpose and vision for the future.

Education and Development: Providing opportunities for education and development is crucial for the next generation's success. This includes not only formal education but also practical experiences, mentorship and exposure to different aspects of wealth management and family governance.

Continuity Planning: Developing a comprehensive continuity plan is essential to ensure a smooth transition of wealth and skills to the next generation. This plan should address key ownership issues, involve the next generation in decision-making and establish protocols for decision-making and governance.

By focusing on these factors, families can create a solid foundation for the successful transfer of wealth and skills to the next generation, ensuring the long-term sustainability and prosperity of the family.

Protecting your family's legacy wealth requires careful planning and implementation of various strategies.

Establish a Family Governance Structure: Creating a family governance structure, such as a Family Council or Family Constitution, can help establish clear rules and protocols for decision-making, wealth managementw and succession planning. This structure ensures that the family's purpose, values, goals and legacy are preserved and passed down to future generations.

Develop a Comprehensive Estate Plan: Working with experienced professionals, such as our Law team, can help you develop a comprehensive estate plan. This plan should include wills, trusts and other legal instruments to protect your assets, minimise tax liabilities and ensure a smooth transfer of wealth to your chosen beneficiaries.

Diversify Your Investments: Spreading your wealth across different asset classes and geographic regions can help mitigate risks and protect your family's legacy wealth. Our Investments team can provide counsel on asset allocation, manager selection, and risk management to help you establish a long-term, diversified investment strategy.

Implement Risk Management Strategies: Identifying and managing risks is crucial to protect your family's legacy wealth. This includes assessing and mitigating risks related to investments, business ventures, legal and regulatory changes, and other external factors. Our team can assist you in developing risk management strategies tailored to your specific circumstances.

Educate and Prepare the Next Generation: Ensuring that the next generation is educated and prepared to manage and preserve the family's legacy wealth is essential. Our Next Generation programme and family workshops can help provide the necessary knowledge, skills and values to the younger members of your family.

By implementing these strategies and working closely with our team of experts, you can take proactive steps to protect your family's legacy wealth and ensure its preservation for future generations.

Family governance refers to the establishment of a structured framework and set of processes that guide decision-making, communication and the overall management of a family's affairs. It is a way for families to effectively govern their wealth, assets and relationships across generations.

In the context of family governance, the focus is on creating a system that promotes unity, transparency and accountability within the family. It involves defining roles and responsibilities, setting clear rules and protocols and establishing mechanisms for decision-making and conflict resolution.

Family governance helps ensure that the family's purpose, values, goals and legacy are preserved and passed down to future generations. It provides a platform for open and constructive communication, allowing family members to discuss important matters, make informed decisions and align their interests.

By implementing a family governance structure, such as a Family Council or Family Constitution, families can establish a formal framework for addressing issues related to wealth management, succession planning, philanthropy and other family matters. This structure helps foster a sense of shared purpose and collective responsibility among family members. Overall, family governance is about creating a solid foundation for the long-term sustainability and prosperity of the family. It provides a framework for effective decision-making, promotes harmony and unity and ensures the preservation of the family's legacy wealth from one generations to the next.

Case studies

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Helping a third generation Canadian business owning family implement formal governance structures

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How can we help?

There is no substitution for a personal conversation. If you are interested in hearing more about how we can help please get in touch and one of our experts will contact you.

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