As a family office, you are a unique organisation – one with many inherent advantages when responding to challenges of an increasingly complex global environment. However, if you expect to grow and preserve your family legacy over the long term, you should consider adopting a new mindset and changing the way you operate. We have identified the key areas you will need to consider when building or re-imagining your family office. We call these the four cornerstones of your future-ready family office.
The four cornerstones provide the insight to develop innovative tools and services to ensure two key results. First, your family office is “built around you”. Second, your family office is future-ready and resilient to shock – enabling you to seize opportunities, manage risks, create meaningful impact and protect your family legacy – now and into the future. Let's reimagine your family office.
Our holistic service offerings are built to meet the challenges set in the 4 cornerstones to grow and protect your legacy. Setting up your family office starts with defining the vision for your office and purpose for the family and its wealth. Once we understand the purpose and needs of the office, we help you build on this foundation to design each of the components to seamlessly support your family’s legacy.
We conduct an extensive review through research and interviews to understand past, current and future vision. We help you create an overall plan that encompasses key areas, including operations, technology, staffing needs, advisers and governance that is truly built around you. Regardless of the size, type or complexity of your organisation, we help you build the structure that best serves you to be future-proof and shock-resilient.
The thought of setting up a family office could be a daunting one but doesn’t need to be. Our 4 steps guide to build your family office will provide you with a comprehensive yet easy to navigate document that breaks down the process for easier understanding. It is aimed at building your confidence in undertaking the process and our global network of experts are here to help.
Creating a successful family office requires strategic planning and design. With decades of experience, we can prepare you for each step of the way –from assessment and vision to work plans and implementation. Together, we can help you design a strategy to manage the complexity that comes with a family-owned business.
Is your family office ready for tomorrow?
For those with an established family office we employ the PwC family office Diagnostic Tool, a proprietary web-based framework that provides an intuitive analysis of the services, processes, and risks contained within a family office.
Our benchmarking tool is built around the 8 core frameworks identified in PwC’s family office Services and comprises over 200 questions based on best practices for successful family offices. The framework provides a clear outcome for our multi-disciplinary and international teams to design the services you need.
Our drive to support your family office to be future-ready and to meet the digital challenges is outlined in our 4 cornerstones. PwC has partnered up with leading technology developers to provide integrated family office solutions for high net worth families to fully support all your family’s data, reporting and analysis needs.
The leading solution within our Digital family office offering is Wealth Compass, a family wealth portal designed for high and ultra-high net worth families, single-family offices, multi-family offices, trust companies and wealth managers. Our advisers will work with you and your family office to implement Wealth Compass. Wealth Compass is an innovative managed service that provides better visibility into your portfolio, performance and potential risk exposures as well as an automated and efficient back office, so you can focus on strategic decision-making, instead of transaction processing and data management.
PwC global family office network
We are one of the world’s most extensive networks of multi-disciplinary teams at the cutting edge of professional service for family offices.
With more than 160 years of experience and 5,000 people dedicated to serving family offices and wealth holders across all our lines of service and geographies, we can help you set up your family office or help you strengthen its foundations with our 4 cornerstones approach, family office diagnostic and holistic service offering.
Global family office roundtables
Our global and local roundtables and retreats are exclusive gatherings of family office principals. Our events offer networking opportunities in a private and relaxed setting, drawing on the collective experience of the participants, the hosts and PwC expertise. Attendance at these events is by invitation only. Contact us to find out when the next one will take place.