Family Business Stories

In this episode of our Family Office Podcast, we speak with Chris Edward, a director for Lombard International Assurance who is a UK-regulated advisor and has been dealing with UK resident clients for nearly 25 years in the wealth planning space. His approach is primarily based on insurance-based structures.

In this episode of our Family Office podcast, we talk with Johannes Smits, Partner in People and Organisation at PwC Switzerland, where we discuss how Family Offices of all shapes and sizes manage the challenges faced and strategies to use when attracting and retaining talent.

Diversification is a key consideration for families and family offices making investments. Understanding and assessing opportunities available outside of the ‘traditional’ investment universe can be challenging. In this episode, we talk with Pascal Schneidinger, CEO and founder of Partasio, a company providing access to art investment. Pascal walks us through art as a diversifying asset class, touches on the complexities of this dynamic market and shares insights on how to access an asset class where the entry barriers are traditionally high.

Corporate Governance, Family Governance und Rollen im Familienunternehmen: diesen drei Themen widmen sich Reto Blaser, Catharina Prym und Roman Leimer. Aufbauend auf der bisherigen Family Governance Podcast Serie, erhalten Sie in dieser Ausgabe weitere Insights unserer Family Business Experten und wie Sie diese Themen in Ihrem Familienunternehmen angehen können.

In dieser Episode des Family Governance Podcasts führen Roman Leimer und Catharina Prym durch die ersten drei Zimmer des Strategiehauses: Mitgliedschaft, Selbstverständnis, Geschäftsmodell. In 18 Minuten vermittelt Ihnen unsere «Hausbesichtigung» wertvolle Einblicke in einen Beratungsprozess, der Familienunternehmen systematisch zur nachhaltigen Strategie begleitet – Ziel für Ziel, Zimmer für Zimmer.

This episode focuses on sustainability. We will take a look at the different approaches to defining it. We will also talk about its impact, sustainable investments and the opportunities that it presents for family businesses and family offices. Lastly, we will consider how the next generation can use sustainability to contribute to companies and growing wealth.

Mit einer Inhaberstrategie erhalten Sie ein einheitlicheres Bild davon, was Familie, Unternehmen und deren Zusammenspiel bedeuten. Die Familienverfassung als verbalisierte Form erleichtert Ihren zukünftigen Dialog miteinander.

Aus dem Spannungsfeld von Geld, Macht und Liebe gehen unterschiedliche Ansprüche hervor. Mit einer Family Governance schaffen Sie Klarheit über Bedürfnisse, Ziele und Verhalten. Es ist nie zu früh, die Zukunft abzusichern.

More and more wealthy people and business-owning families are considering moving abroad, whether for private, professional or business reasons, as a result of COVID-19 or because a new chapter in their life is beginning. This episode of our podcast looks at aspects that you should consider and clarify before moving. Topics include tax residence, tax privileges, flat-rate taxation, freedom of movement and legal structures, as well as wills and pensions.

New taxation rules, which have been adapted to the international standard, entered into force in Switzerland on 1 January 2020. The fifth episode of our Family Business Stories is dedicated to the effects and opportunities arising from this tax reform. We explain why international multi-corporations with the previous tax regimes are not the only companies that should pay attention to the new provisions. Step-up with grandfathering rules or replacement measures like the patent box or research and development deduction can also be attractive for family offices with subsidiaries operating in Switzerland, Swiss family businesses and SMEs.

In the fourth episode of our Family Business Stories, we take a look at future-proof structures for the family office. Complexity surrounding international assets is growing, regulatory pressure and the pressure to disclose are on the rise and COVID-19 is limiting the scope for movement and action. We recommend that family offices and asset owners rethink their (sometimes traditional) structures, streamline them where necessary and establish their hubs in countries where they can demonstrate substance that is sustainable and fiscally acceptable. In addition, more and more family offices are switching to special digital applications that illustrate revenue and costs in a more transparent way.

In the third episode we take a look at the governance and operational organisation of a family office. The family has to decide who is the owner, shareholder and final decision-maker. In most cases, it pays off to set up an Investment Council. And selecting the family officer is just as important, as they act as the contact person and trusted partner, and run the family office. The family officer usually specialises in certain asset classes and must understand their scope of action. The family and the family officer need to exchange views regularly and clarify how the costs are passed on to the users of the family office.

The second episode is dedicated to the strategic principles for setting up a single family office. This includes the vision for the family assets, as well as goals, values and room for manoeuvre. The various duties, such as asset accounting, controlling, reporting, regulation of successor issues and community engagement, are derived from the strategy. This then leads on to operational decisions like choosing a location, personnel, compensation model, budget and network. We also pay special attention to harmonising company, family and private assets as well as the associated interests.

In this episode, we talk about setting up a family office with the aim of structuring family assets in a sensible manner, exploiting cost and value creation advantages and avoiding conflicts of interest. We discuss the differences between a single-family office, a closed multi-family office and a commercial multi-family office. We also explain what type of family office is appropriate depending on the volume of assets and how to find a suitable family officer.