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MULTI-FAMILY OFFICE

COLLABORATION

Research conducted and presented in 2022 by the Kellogg School of Management, Northwestern University, shows that only 30% of family fortunes persist into the second generation and that number is halved by the third generation.

The years-long process of shaping our family office, both in terms of the decision-making structure of the family wealth (Family Governance) and the creation of the investment portfolio based on strategic asset allocation (Family Endowment Fund) has allowed us to experience almost every significant aspect of this new field of activity in Poland.
We understand the complexity of managing family wealth across generations and the challenges families have to address in the face of succession.

The main challenges do not only concern the traditional inheritance issues but, above all, the dilemmas related to the legal form of the held assets, inventory and valuation of assets, liquidity, reporting as well as cooperation with other family offices.

Therefore, in line with the principle of cooperation adopted in our Family Constitution, we are open to sharing knowledge and offering support to other family estates looking for solutions regarding the smooth transition of management to the next generation.

The areas of issues concerning the creation of a family office and the questions assigned to them are those we faced while working on forming our own family office and we do know they are universal.

However, each family’s wealth is unique and, as such, it should be treated individually.
We are open to discussions about challenges related to the functioning of the family office as a whole and each of the areas individually, ensuring discretion and understanding of an individual approach.

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FAMILY OFFICE AREAS

FUNCTIONING RULES OF FAMILY WEALTH

  • Family Constitution,
  • Family Social Order,
  • Inheritance, management, benefiting, responsibility towards wealth,

LEGAL FORM OF WEALTH

  • Capital company or investment fund?
  • One legal form (family fund) or several different ones?
  • Poland or abroad?
  • Family Foundation is a new, interesting legal form in Poland.

ASSET INVENTORY

  • Private and investment wealth – separation of wealth in the context of risk,
  • Wealth status – information about individual assets, classification and their valuation,
  • Basic knowledge for strategic asset allocation,

THE NEXT GENERATION - Succession

  • Does the next generation have the predisposition to manage the wealth?
  • How to teach responsibility towards wealth?
  • What definitely should be passed on to the next generation?

STRATEGIC AND TACTICAL ASSET ALLOCATION

  • Placement of wealth in various asset classes and different geographies,
  • Evaluation of allocation changes due to the changing economic environment,

INTERNAL AND EXTERNAL REPORTING

  • Evaluation and planning of liquidity, investment performance,
  • Accounting and cooperation with authorities in the context of international funds transfer (US, NBP),

INDIVIDUAL NEEDS

  • Charitable activities,
  • Personal healthcare (prevention and medical access),

COLLABORATION WITH OTHER FAMILY OFFICES

  • Collaboration – sharing of experiences, joint investments,
  • Environment – friendly, non-competitive
    (multi-family office),
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FAMILYOFFICE.com.pl

SHARING OF KNOWLEDGE

With the goal of sharing our knowledge, we invite you to visit the FAMILYOFFICE.COM.PL portal where you can learn more about the family office model, its genesis, structure and the goals and tasks set before them.

We are also the initiators and substantive partners of the first Polish monograph “Family Office – theory and practice in the Polish and international market”, authored by the University of Łódź staff members: Małgorzata Janicka, Artur Sajnog and Tomasz Sosnowski, published in 2020 by Wydawnictwo Naukowe PWN. We highly recommend reading it.

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