Why a family office?
Privacy and growth
- Discreet management of family wealth and affairs
- Gatekeeper between the family and third parties
- Harmonious family growth
- Creation of family value and family governance
Highly personalised services
- Provide bespoke services tailored for the family that differ from those of wealth management institutions and multi-family offices
- Excel at responding to and anticipating the needs of the family
Wealth protection, inheritance and accumulation
- Comprehensively manage philanthropy, estate planning, tax and family wealth distribution
- Handle strategic asset allocation, wealth protection and succession and long-term prosperity
- Carry out duties professionally, increase compliance and reduce risk
Family office set-up blueprint
1. Identifying the purpose
- Define family value
- Outline scope and functions of the family office
- Set assets under management
- Specify current and future beneficiaries
- Organise management and control framework
- Understand the philosophy behind philanthropy
2. Planning
- Family board and family governance planning
- Preparation for NextGen’s education, growth, development, living and succession
- Business rules on integrating NextGen and family member recruitment policy
- Defined roles and functions of executive and non-executive family members
- Thoughtful resourcing (insourcing vs outsourcing)
3. Structuring
- Create strategic asset holding structure, taking into consideration asset protection, growth, succession, control, tax and privacy
- Develop investment policy, rebalancing policy and mandate adjustment
- Structure family board, independence advisory board and drafting of family governance documentations
- Create effective communication channels for family members
- Build philanthropy framework and management control methods
4. Establishing
- Strategic asset allocation based on investment policy and strategic asset holding structure
- Finance management and control system, wealth management dashboard
- Nurturing NextGen and succession
- Talent recruitment and appointment of key roles
- Philanthropy implementation
What makes for an effective family office?
Prompt response to economic changes and local regulatory requirements
Long-term family prosperity
and harmony
Systematic and robust wealth management protocols
Catered for the bespoke needs of family members
Managing the family business dynamics
Contact us
Entrepreneurs, family businesses and fast-growing companies have unique needs. They require a trusted adviser who will work shoulder to shoulder with them–someone who will bring forward broad-based business skills, tailored products and services, and the true strength of the global firm to help them navigate the unique challenges and transformational change they will face at each stage of their business lifecycle. That’s where KPMG Enterprise comes in.
Karmen Yeung
National Head of Private Enterprise
KPMG China
+852 2143 8818
karmen.yeung@kpmg.com
Vincent Pang
Head of Private Enterprise
Northern China
KPMG China
+86 (10) 8508 7516
vincent.pang@kpmg.com
Edward Yu
Head of Private Enterprise
Eastern and Western China
KPMG China
+86 (21) 2212 2988
edward.yu@kpmg.com
Koko Tang
Head of Private Enterprise
Southern China
KPMG China
+86 (755) 2547 4180
koko.tang@kpmg.com
Sylvene Fong
Head of Private Enterprise
Hong Kong
KPMG China
+852 2978 8227
sylvene.fong@kpmg.com
Jackey Tse
Director, Family Office Consulting
Private Enterprise, KPMG China
+852 2140 2263
jackey.tse@kpmg.com
