Cluster Family Office <\/a>We have always been aware that the two types of wealth must be treated in very different ways. Let us see why:<\/p>\nFirst of all, it must be taken into consideration that the New Fortunes have a clear origin, a creator who, through a company, business or the whims of fortune, has been able to generate a sufficient volume to have to take care of its maintenance and growth in a professional and constant manner. And until that original creator dies and\/or delegates the management to his heirs or their advisors, it will be he himself who will manage his fortune, or supervise the professionals he hires for that purpose.<\/p>\n
These types of new assets\u00a0must be managed very efficiently<\/strong>, The survival of such a fortune depends on such efficient management and proper progression, otherwise it may die out before it reaches the next generation. The survival of such a fortune depends on such efficiency in management and on its proper progression, otherwise it may become extinct before it even reaches the next generation. They cannot afford to grow at a mediocre pace or not at all for 5 or 10 years, as their volume is usually smaller, and the risk of assets declining dangerously and being wiped out in 10 or 15 years is high. We can see countless examples of wealth extinctions in fortunes between 1 and 10 (or even more) million euros: For example, the so-called sudden fortunes (inheritances, lotteries, etc.) that last barely a decade; entrepreneurs who only know how to generate wealth through their family business but crash when it comes to managing their assets outside it; or former entrepreneurs who after selling their businesses do not know how to invest their money and end up as fodder for advisors, bankers, swindlers and other hungry sharks. In fact, an excellent entrepreneur is often a poor wealth manager.<\/strong>. In any case, the priority for these profiles of New Money holders must be the correct and efficient growth of their assets, otherwise most of them will disappear in less than two generations.<\/p>\nOld Money, on the other hand, lasts over time, although paradoxically its management is usually much less efficient. What is the secret? Very easy: On the one hand, its volumes are usually gigantic and capable of absorbing years and years of desert crossing, as far as the correct progression of its growth is concerned. And on the other hand, management over the generations is usually carried out by external administrators who are more concerned with their structure and legal operation than with investment decisions. This leads to these assets being mostly anchored to more or less diversified prime real estate investments and corporate investments in large business groups, with considerable shareholdings. And all of this for the very long term, as the turnover of these investments tends to be practically nil. In other words, inefficiency compensated by enormous volume, and the absence of wrong decisions that could irreversibly erode the assets.<\/strong>. Indeed, most Old Money could not survive for generations if its managers were to make constant investment\/disinvestment decisions. Because let us remember that those who are legally qualified to do so are usually lawyers concerned only with the holding structures of these gigantic assets, to whom the investment world is totally alien. Or the heirs themselves, who are so incompetent and\/or document-bound that they shy away from management, and can\/want to decide on the use they make of their share of the usufruct only when the administrators pay them their annual or monthly income into their accounts.<\/p>\nThe innate incapacity of Old Money owners (who have never had to worry about earning a living), and their atomisation at the front as co-owners with rights (heirs and heirs of heirs, political families, etc.), makes efficient investment decision-making materially unfeasible. And such a mediocre operation inevitably leads to a clearly inefficient progression of assets. But this is a luxury that its volume can afford, and at the same time it is paradoxically the best vaccine against its demise. In short, the massive and impersonal Old Money holding structures are so incompetent and inefficient that their very inoperability guarantees their survival for generations. It is only because of their sheer volume and the absence of decision making regarding the real estate and corporate investments of yesteryear that these Old Money fortunes are able to endure for many, many decades.<\/p>\n
Some of you may ask, is this lack of decision making the successful magic formula to be applied to minor and\/or New Money assets? Absolutely not. New money needs efficient management and proper wealth progression to survive, as its volume is not gigantic enough to absorb falls in real estate markets, or corporate fiascos in poorly diversified shareholding packages. Thus, we can conclude that the management of New Money assets is, unfortunately, much more demanding than that of Old Money.<\/p>\n
In any case, the contracting or creation of a wealth management structure or Family Office is the instrument that will allow for greater efficiency. Both for the holders of New Money and for the beneficiary families of Old Money. For the former, by bringing them closer to the necessary efficiency and avoiding bank abuses. And for the latter, by providing the various family nuclei with a real decision-making body (or several, as many as there are incompatible family nuclei), although this may scare traditional lawyers and administrators too much, who tend to care much more about placidity than efficiency. This is because the money is not theirs, of course.<\/p>\n
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Hay que distinguir entre dos tipolog\u00edas de patrimonios claramente diferenciadas: Los patrimonios que han sido creados por una sola generaci\u00f3n, y que se transmiten a una o dos posteriores a lo sumo, puesto que se extingue en el camino debido a su volumen menor y la dilapidaci\u00f3n habitual por parte de los receptores de herencias. […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54,57,58,39,52,37,48,49,50,55,56],"tags":[],"class_list":["post-3538","post","type-post","status-publish","format-standard","hentry","category-asesoramiento-patrimonial-deportistas-artistas","category-funcionamiento-family-office","category-crear-mi-propio-family-office","category-crear-mi-propio-family-offices","category-asesoramiento-patrimonial-multi-family-office","category-reflexion","category-asesoramiento-patrimonial-multi-family-office-crear-mi-propio-family-offices","category-funcionamiento-family-office-crear-mi-propio-family-offices","category-crear-mi-propio-family-offices-crear-mi-propio-family-offices","category-necesito-un-family-office","category-que-es-un-family-office"],"_links":{"self":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/3538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/comments?post=3538"}],"version-history":[{"count":0,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/3538\/revisions"}],"wp:attachment":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/media?parent=3538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/categories?post=3538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/tags?post=3538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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