The head of the family from Central Europe has approached us to expecting to receive considerable amount as the sale price to advise on setting up the family office. It was before the sale of their family business in order to invest and manage it for the family. There have been several meetings with the family where we went through together their requirements, needs, and expectations. The meetings mainly concerned the provided services, staff, fees, and taking into consideration family values.
We also discussed and advised on different structure options to fit those needs and expectations. Such as a holding company, virtual family office, single or multifamily office, and their pros and cons. The client has decided to firstly set up the holding company within their core family business to be allocated with certain family office services. Later, he decided on to continue with establishing the proper single-family office when the volume of services needed will justify it.
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