Family offices are one-stop wealth management for Ultra-HNIs and look after investments, estate planning, tax efficiency and philanthropy among other things.
In an interview with MintGenie, Rajmohan Krishnan, Principal Founder & Managing Director, Entrust Family Office talks about their approach to wealth management, succession planning and managing risks.
Engaging with a family office is a significant decision that individuals typically consider when their financial situation becomes more complex and requires a more comprehensive approach to wealth management. Here are some scenarios/ triggers that suggest when an individual should consider engaging a family office for their financial needs:
Significant wealth accumulation: When an individual or family has accumulated substantial wealth, managing diverse and complex assets can become challenging. A family office can provide expertise in handling large investment portfolios, real estate holdings, and other high-value assets.
Multigenerational wealth transfer: If there is a need for comprehensive estate planning and wealth transfer strategies to pass on assets to future generations efficiently, a family office can help design and implement strategies that align with family values and objectives.
Complex financial structure: As financial situations become more intricate, involving various investment vehicles, trusts, and legal structures, a family office can coordinate and manage these complexities, ensuring effective financial governance.
Business ownership and succession planning: Individuals with substantial ownership in private businesses may require specialised assistance in business succession planning. Family offices can facilitate the transition of ownership and
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