Graham Thompson’s Ryan Pinder recently spoke at the AIBT (Association of International Banks and Trust Companies in The Bahamas) Nassau Conference.
Ryan’s presentation explained that:
- A “FAMILY OFFICE” covers all forms of services involved in managing wealth for high net worth individuals and families;
- The “FAMILY OFFICE” is created by a family to manage its investments and financial affairs, including investments entities, trusts, foundations and other wealth holdings vehicles;
- A “FAMILY OFFICE” is normally structured as a separate, stand-alone company to limit its legal liability and protect privacy; and
- A “FAMILY OFFICE” requires a skilled administrative staff and may also contract with external firms for investment advisory, asset management, legal and risk management services.