In order to tailor a Family Office bouquet that will provide the right services for your particular lifestyle and financial set-up, Kaimakliotis & Co takes the time to thoroughly study and assess your family’s wealth history through the Family Wealth Analysis procedure.
Succinctly put, the Family Wealth Analysis procedure will reveal what your family has and what your needs are both short-term and long-term. With the client, we go through the family’s wealth, estate, dealings and other pertinent or relevant information.
Furthermore, it takes a good look at your existing network of providers to identify who the Family Office will liaise with, or where savings and changes can be made to the benefit of the client.
Once this has been completed, the information is used to create a structure of services that will form your own personal Family Office, with the option to add and remove service components as and when needed in the event that changes occur to your estate or status.
Through the findings of the Family Wealth Analysis, a Family Data Account service is then set-up; this function in the first instance will give a clear overview of the findings of the Family Wealth Analysis, listed comprehensively and analytically in one document that will serve as a reference and a key of your wealth and dealings.
The Family Data Account then regularly collates all relevant data, statements, documents, notices and the like to create a comprehensive report that the client can easily assimilate, allowing the flagging of any issues that then need individual attention or further action. In this way, the client is removed from the daily mountain of documents or information and given a digestible and concise summary periodically. The frequency of the report is discussed with the client and based on the quantity and schedule of the family’s typical document generation.
Information and actions that may appear in the Family Data Account varies from Family Office to Family Office, but may include:
- Financial & Non-Financial Assets
- Liquid & Illiquid Assets
- Multi Currency
- Custodian & Financial Institution “Neutral”
- Quality Control Checks
- Transaction Analysis
- Agreement Reviews
Family Office Fees
The Family Office fees will be analytically outlined and discussed in the initial consultation phase, and thereafter, the service will be billed monthly, whilst not incurring any hidden charges.