Family Offices are private legal entities with an organizational structure dedicated to managing, maintaining and transmitting large family estates between generations. At Renta Corporación we provide all the support and advice necessary to achieve the highest profitability with financial, real estate, business or any other type of investment.
In our country the figure of Family Offices is developing and specializing more and more due to the great complexity and dedication they require. It is necessary to know and understand in depth the needs and possibilities of the family, to study, plan and involve the different generations. In short, in order to achieve the expected results, it is advisable to count on a team of specialized professionals.
The following is an in-depth analysis of the main objectives of this type of organization and the main trends in managing this type of wealth.
Setting objectives to create long-term value
One of the pillars on which Family Offices are based to improve their efficiency and offer a better service is the great commitment and proactivity to meet the needs of their clients. Therefore, the main objectives they pursue are to protect and maximize the wealth of the family group over time.
To achieve this, they must take into account several aspects. Considering the real needs of the family, it is necessary to carry out a complete study of the opportunities offered by the market.
Once this analysis has been made, a global estate planning should be carried out: from reviewing the family structure and relationships, to designing and implementing investment and succession plans that facilitate the generational handover. In addition, it is important to establish legal and tax strategies for each member.
Throughout the entire process, there is a fluid two-way communication and a follow-up to ensure that we are working together along the planned lines.
What is the role of personalization of services in Family Offices?
There are key moments when many families understand the need for professional advice and the value it can bring. For example, at the moment of selling the business or making a generational handover, they may see the sustainability of their family legacy faltering. This is usually due to two main issues: the coordination of investments and succession strategies.
In this type of situation, offering a personalized service is undoubtedly one of the differentiating elements to guarantee a good service. That is why Family Offices are increasingly focused on designing and implementing strategies with the philosophy, values and shared interests of all members as a central axis.
Family Offices have a very complete portfolio of services that can be customized according to the plans, ambitions and preferences of the members to look after the interests of the families. For this reason, the ability to individualize this type of services is fundamental.
These organizations protect the fruits of labor against almost any situation by allowing all members of a family to invest their wealth as a unit, reducing the cost and considerably increasing their cohesion and efficiency.
At Renta Corporación our mission is to satisfy the needs of our clients. We collaborate with Family Offices to offer added value that goes beyond the financial focus and focuses on the essence of each family group to create a clear and coherent governance structure that enhances their strengths.
If you are looking for professional advice, contact us!