Setting up a Family Office

We’ll help and support you every step of the way as you set up a Family Office

Now’s the time!

We offer you the best advice on setting up your own Family Office.

Those High-net-worth families who do not have their own management team, but who wish to set one up, can turn to the Cluster Group for assistance in creating an optimal structure, who is capable of managing all matters relating to the family fortune correctly and independently.

The process of setting up a family office requires a thorough analysis of the family’s needs, as well as the skills and abilities of family members.

«Do you want to set up your own Family Office but don’t know where to start? It’s no easy task – CFO is here to help; we’re the key to success.»

How to set up your own family office?

We can advise you and are fully qualified and trained to help you set up your own family office. Some of the steps we will guide you through are:

Identifying needs of the family
Team integration existing
Structural design optimal
Selection, training and monitoring from the analysis team

Trust

100%

Effectiveness

100%

Experience

100%

How to set up your own family office?

Before creating a particular structure, It is vitally important to have a clear understanding of the motivations and needs of all family members and to ensure that they all wish to be involved in the management of the family’s assets, to the best of their ability, and to help ensure that the family legacy endures.

There is no point in setting up a Family Office that runs smoothly if there is no family cohesion and harmony

The fact is, not all families have the same needs all the time.

For this reason, We have designed a programme to identify families’ needs, which helps us to identify those needs.

Benefits of working with us, Cluster Family Office

During the early years of the organisation’s existence, the Grupo Cluster is responsible for providing the family with all the support they need to ensure everything runs smoothly of the newly established office.

Typically, the processes that require our support are:

Recruitment of new staff who can adapt to the Family Office’s needs and understands the philosophy of the business family
Training for existing staff in the basics of wealth management
Investment and fund manager analysis, as well as in those areas requiring greater attention
Monitoring and supervision the functioning of the organisation’s structure and internal processes

The following advantages are therefore worth highlighting:

Support in those areas where the Family Office has the greatest shortcomings
Support for the team in the areas where you need it most
Managing your own team with the support and external perspective of professionals
Advice from professionals whose interests are fully aligned with those of the Family

How do we identify the family’s needs?

We are examining the current structure of the Single Family Office model or a team of advisers employed by the family who manage the family’s entire estate
We apply analysis protocols for Family Offices, to optimise their structure and management
We analyse both the areas managed by the Family Office and those it does not manage
We examine the assessment and implementation processes on investments
We set out the various branches of the family’s estate which is managed by the Family Office and we look at people outside the team which influence wealth management decisions
We carried out an in-depth analysis of the current structure of the Single Family Office, analysing its strengths and potential areas for improvement with a view to identifying them and implementing solutions to optimise its management

Integration of the existing team into the Family Office

Every business family that has been successful in business has been supported by advisers or associates from outside the family, but who have earned the organisation’s trust through their loyalty and hard work.

Provided that these individuals wish to be involved in the new family project of setting up their own Family Office, and that they possess the necessary skills to carry out these new duties, It is advisable to integrate them into the new team and provide them with training, if necessary, so that they can develop the necessary skills.

Benefits of integrating the existing team into the Family Office

Advice and analysis customised
Team formation to develop the necessary skills.

Designing the optimal structure for a Family Office

Once this has been carried out:

The process of analysing current investments
The business shareholdings
The the family’s needs y
The team capabilities current

We shall proceed to to design and put forward to the family, with the support of our experts in taxation and the creation of wealth-holding structures, the ideal vehicle for setting up a Family Office, as well as the Family Governance bodies that are to govern its operation.

Recruitment, training and monitoring for Family Offices

As part of our service for the selection, training and monitoring of the analysis team, At CFO, we offer support in the areas where the Family Office has the greatest gaps and requires external professionals (CFO) to carry out operations.

The aim is, having carried out an in-depth study of how the Family Office operates, to support the team in the areas where it needs it most.

This allows to continue managing our own team with the support and external perspective of professionals whose interests are fully aligned with those of the family.

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Cristina Fernández

Back Office Assistant

Alfonso Carrillo

Partner

Joan Albert Mercader

Partner

(+34) 93 626 47 75

(+34) 91 794 19 82

Setting up a Family Office