Managing Family Office & Wealth
24-25 May 2012 London
Successful Strategies for Managing Modern Family Office and Wealth Management for HNWIs
Last Chance to Register!
This 2 day practical programme for family office representatives and wealth managers explores the best strategies for preserving family wealth and managing a modern family office.
You will have a chance to explore the family governance mechanisms, intergenerational wealth transfer, managing complexities of international wealth mobility and succession planning. You will also learn about the operational setting and asset allocation, cost and risk management, tax advisory and philanthropy.
Run by an expert in family office and services for high net worth clients this course focuses on the latest market trends and effective wealth preservation strategies.
By the end of this course you will:
- Have an in-depth practical understanding of the structure of a family office and effective family office management approaches
- Learn about family governance mechanisms
- Explore how to structure wealth and manage intergenerational wealth transfer
- Manage family office from choosing an advisor, to cost and reputation management as well as asset allocation strategies
- Explore different services provided by family office and how to arrange them
- Understand the latest changes in the wealth management sector
Main Topics Covered include:
- Structuring of family office and governance mechanisms
- Developing the family “mission and values”
- Dealing with complex family structures
- Understanding change over the life cycle of family businesses and succession planning
- Mobility of wealth & the family business
- Intergenerational wealth transfer
- Services provided by a family office
- Selecting advisors and cost management
- Asset allocation mechanics and optimisation
- Investments of passion
- Tax management and advisory
- Performance measurement and reward systems
- Wealth structuring and fiduciary services
- Financial planning
- Philanthropy
- Reputation management
- Valuation of the family business
- Current challenges and the changing role of the family office
To see detailed course programme click here
The course is designed for family office professionals and wealth managers and will give you an insight into the best practices for wealth management and wealth preservation.
Description
Notwithstanding the economic slowdown the growth of Family Offices continues at an impressive pace. Globally, it is thought that there are 11,000 family offices in existence and it is expected that this number will continue to grow as the needs of wealthy families become more complex.
As successful families become more international in their outlook so their needs become more complex and they seek cross border planning solutions that may require the use of service providers with global expertise or a network of advisors from different disciplines and across different geographic locations where the extended family may have business interests, family members or financial assets situated.
This practical 2 day course explores the latest trends in the family office sector.
Who Should Attend
Heads and Members of:
- Multi and Single Family Offices
- Wealth Managers
- Private Bankers
- Client Relationship Managers
- Consultants
- Heads of Family Services
- Head of Business Development
- Financial Planners
Teaching Method
This is a highly practical course with many real life case studies and exercises. Tutor will be focused on teaching practical strategies that can be taken back to your business and put into immediate effect.
You will benefit from comprehensive take away course documentation.
In order to help us establish your individual and business concerns, you will be asked to fill pre-course questionnaire.
Because of the nature of the course the number of places is limited and will be filled on first come, first accepted basis. We advise to book in advance in order to avoid disappointment.
Managing Family Office - A 2 Day Programme
Introduction
- What is a Family Office?
- Evolution of the Family Office concept
- History and origins
- Typical objectives and structures
- Overview of different operating models: single family office, boutique multi family office, financial services multi family office and wealth manager
- Current issues and challenges
- The future - the changing role of the family office
Managing the Family office
- The “make” or “buy” decision
- Considerations when establishing a Family Office
- Multiple family office vs private bank
- Selecting advisors
- Managing advisor networks – coordination and collaboration
- The role of technology
- Cost management
- Risk management – wealth preservation and protection
- Asset protection
- Dealing with investments of passion
- Behavioural and emotional aspects to investment decision making
Family Governance and dynamics
- The Family Constitution - formal or informal?
- Structure and governance mechanisms
- Performance Measurement and reward systems
- How motivated are family members?
- Dealing with “complex family structures”
- Conflict Management
Succession Planning
- Transition management
- Grooming the next generation(s)
- Educating and training future family leaders
- Intergenerational or multi generational planning?
- Distribution or growth?
An overview of the services of a Family Office
- Investment strategy and asset allocation
- Implementation and monitoring the portfolio management process
- Access to alternative assets – special considerations for Family Offices
- Tax management and advisory
- Cash flow management and budgeting
- Wealth structuring and fiduciary services
- Multigenerational wealth transfer and succession planning
- Financial planning and advisory
- Philanthropy
- Family Dispute Resolution
- Residence and citizenship planning
- Managing the Family Businesses
- Legal support
- Reputation management
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- Bookkeeping
- Concierge
- Luxury Assets
Understanding Asset Allocation
- Essential elements
- The investment management process
- The risks and rewards of Asset Allocation
- The “process”
- Types of asset allocation: strategic and tactical
- Integrated
- Phases and cycles
Mechanics of Asset Allocation
- The theoretical backdrop
- Risk and return
- Diversification, correlation and risk
- Asset and Portfolio Risk
- Optimisation
- Rebalancing and reallocation
- Relationship with other investment disciplines
- Portfolio Construction
- Alpha generation
Valuation of the family business
- Entry
- Expansion
- Exit
- Mergers and acquisition
- Marriage
Trends in the Family Office industry
- Developing new sources of knowledge
- The “globalization” of the high net worth family
- “Specialization” with multiple providers or “one-stop shop”
- Networking groups
Bill Humphreys
Bill is currently working as a trainer and consultant focusing on the wealth management needs of high net worth private clients, their families and their businesses.
Prior to this Bill worked in the international private banking market for almost 20 years. His private banking career began with Royal Bank of Canada where he spent 15 years in a variety of senior roles covering all aspects of the international wealth management business both onshore (London) and offshore (Bermuda).
Bill has broad general wealth management experience but his particular area of expertise is developing financial planning solutions for international high net worth private clients and their businesses who have complex cross border planning issues. In addition to wealth structuring, tax and estate planning the practice also advises on the specific challenges in establishing and growing a successful family enterprise.
During his career Bill has had responsibility for designing and delivering financial education programmes for professional staff and wealthy families in the Middle East, Europe, USA, Canada, South America and Africa. Bill is currently developing and delivering training programmes for international banks, private banks, wealth managers, family offices, professional bodies and regulators covering a broad range of financial, investment and soft skills subjects.
Bill is a Chartered Accountant (FCA), Trust and Estate Practitioner (TEP) and Financial Planner (DipPFS).
24-25 May 2012 London, Mayfair
Price £1920 + VAT
- 5% discount for a booking of 2 and 10% for a booking of 3 people. Delegates have to be from the same company and register at the same time in order to claim the discount.
- Only up to 2 discounts can be claimed at any given time.
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In-Company Training
If you have a team of 4 or more this course can be customised and organised in-house at your convenience. Contact one of our advisors to find out more.
Call us now on +44 (0) 207 993 8597
