The Family Office Gains Importance for the Financial Services Industry

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.