A family office is a privately held company that handles investment management and wealth management for a family’s affairs with the goal being to effectively grow and transfer wealth across generations. The company’s financial capital is the family’s own wealth. Most definitions of a family office will include the standard wealth management functions. That is, a family office performs centralized management or oversight of investments, tax planning, estate planning, and philanthropic planning.
The institution of the family office dates back to the 19th century and originated in the United States when the wealthy individuals founded on the fringes of the country’s industrialization professionalized the management of their assets. Some of these family offices, such as that of the Rockefeller family, still exist more than a century later.
In Europe, Switzerland and England are among the main jurisdictions where family offices are located. The attractiveness of our country, Switzerland, is due to several factors, namely a stable political environment, a favourable tax system that also makes it easier for family members to settle in, and geographical proximity to the financial institutions in charge of managing the family’s assets. The legal and regulatory framework is also an important attraction factor in this context.
Among the major Swiss firms of international renown there are Pictet’s Family Office Services was created in 1998, although their tradition, experience and expertise in managing family wealth stem from the Bank’s inception in 1805. In an increasingly complex world, they accompany wealthy families and individuals in developing a structured, holistic and comprehensive approach that reflects the family’s objectives.
Founded in 1991 in Geneva, Bruellan meets the common vision of its two founders, Antoine Spillmann and Jean-Paul Tissières. Specialised in Wealth Management, Asset Management, Multi-Family Office and Real Estate services, Bruellan is fundamentally committed to its highly personalised business model. Bruellan places human dynamics at the heart of its model. Each client is a partner with whom they collaborate to harmonise, protect and grow their wealth.
In Spain, the business has also been growing for some years. The Spanish market for wealth management offers some unique features. One of them is the trend since three or four years of growth in the number of family offices. According to Jorge Coca Marqués, founding partner of Wealth Solutions and professor at the IEB, this process originated in the management of high net worth assets and is now being applied to smaller assets that want to professionalize their management from an independent point of view and eliminating any possible conflict of interest between the family and its advisors.
If you require the services of an entity specialized in family office do not hesitate to contact us and we will place you in the hands of professionals in this field.