Every family and individual are unique and so are their values and aspirations. Most families can govern themselves and their wealth successfully, however, there comes a time when external support is needed and having a form of family office may help.
A family office can be broadly defined as the infrastructure which supports a family to manage their financial and lifestyle affairs.
Family offices can range from a personal assistant helping with administration, through to a larger team of professionals focused exclusively on managing the family’s wealth. Most families find themselves best served by a solution somewhere in the middle, or a virtual family office with a lean in-house team supported by outsourced capabilities.
At KPMG, we understand the importance of supporting multi-generational families to achieve their joint and individual goals through effective operational structures. Ultimately, a family office can help save time, simplify decision-making and provide peace of mind, which together help enrich the lives of family members.
