Family Business / Family Office
Every family business uses a structure to manage its operations and to generate its wealth, operating outside of defined processes can and very often does lead to catastrophic consequences for even the largest family businesses.
Hence the need to formalise a family business into a Family Office, for ongoing success and generational succession.
Early Stage Family Offices
Early stage Family Offices tend to just grow almost by accident, as a result of well intentioned efforts by senior family members and their advisers based on various assumptions, understandings and expectations about what the family want.
However, at some stage the question that must be answered is what happens when the family members who initially established the formal family office structure are no longer around?
More often than not without an established ongoing family council or structured charter for future generational succession, family businesses break up or are sold for a fraction of their true value. Very seldom is either scenario in a successful family business long term interests.
Alchemy Family Business Service
By formalising and structuring a family business into a "Family Office", Alchemy have managed their family business clients affairs into a position of ongoing success.
Adopting a rigorous four stage process, Alchemy along with its strategic team of expert partners are able to offer a solution for the ongoing success of any worthwhile family business.
Should you wish to learn more about our "four stage process", establishing strong foundations for a truly inspirational family office, providing the heritage you and your family deserve, talk to us today. We can help you and your family business avoid "the more often than not" scenarios detailed above, should its future custodianship and ongoing success be of concern to you.
Original family offices
The original Family Offices, with in–house professional and administrative staff, were created by very wealthy families - such as Rockefeller, Flemings and Rothschild - to look after the needs of their family members ranging from sophisticated wealth management through to household services.
Single and Multi-Family Offices
Single family offfices (SFO) later branched out into providing services for other families who could not afford to run their own SFO. These businesses became known as Multi-Family Offices (MFO).
Creative advisers
The SFO & MFO markets continue to develop but there is now also an opportunity for creative advisers (such as Alchemy) to extend family office services to a larger market of enterprising families. This development will help families to build multi–generational wealth strategically over time
