Family Office

The Key to Multi-Generational Wealth Success

What is a Family Office

Recently, family offices are becoming popular especially in the investment circles. It can either be structured with one principal known as single family office or multiple principals which is known as multi-family office.

Family offices are private wealth management advisory that serve ultra-high-net-worth (UHNW) investors. They are different from traditional wealth management shops in that they offer a total outsourced solution to managing the financial and investment side of an affluent individual or family.

Family Office (FO) is a concept of formulating a family constitution that is align with family values as well as guideline on how to run a family business which is consistently align with the family core values. CC Family Office is one of the services provided under Cheng & Co Group which is a one stop intermediary.

5 Key Reasons to Start a Family Office in Malaysia

A family that decide to start a family office has their own reasons which might be different from another family as each is unique. Therefore, we have identified 5 key reasons to start a family office:

  1. Tailor-made service: Provide family wealth planning strategies that are sustainable for generations including advices from professionals such as certified financial planners, lawyers, accountants, tax agents, fund managers and trust specialists.
  2. Family governance: A family office provide governance which looks into the complexity of a family’s wealth with transparency as well as to reduce the risk of conflicts in the future. The advisory and wealth management for the family members are under the same entity to ensure confidentiality.
  3. Alignment of Interest: Family office provides better alignment of interest between financial advisor and the family.
  4. Business succession planning: Structure family business succession to transition out a business management role to the successor of the next generation while preserving the family and business harmony.
  5. Family financial mentor: A family office also acts as a financial mentor. The main services provided include setting and monitoring financial goal, family cash flow budgeting, investment planning, tax planning, insurance planning, retirement planning as well as estate planning.

Benefits of working with a family office

There are several reasons to join family office. Hence, you will need to appoint a trusted family office and experts to receive the best advice. With that, your family office will be added with benefits include:

  • Receive valuable advices and strategies from professionals to preserve wealth with proactive management.
  • Ensure sufficient family insurance and diversification of investments with strategic assests allocation.
  • Transfer of wealth from one generation to the next and estate planning.
  • Work with multiple professionals to ensure that the strategies are integrated.

Family Office Scope of Services

Family Office (FO) is a tailor-made services towards high net-worth individuals to preserve and protect their family wealth. Family Office is also able to provide succession planning in order pass their wealth to the next generation and the following generations.

The adage goes “Wealth Doesn’t Last for Three (3) Generations”. However, the objective of Family Office is to break this curse. The scope of services of Family Office are categorized into 3 main aspects: Financial Planning, Governance, and Advisory.

FO Office

Own Your Family Office Now

Frequently Asked Questions

Who needs a family office?

While family offices are generally recommended for UHNW individuals, it can be especially helpful for individuals leading a complex life with time-consuming financial structures. It also makes life less stressful for those HNWI who travel often and have limited time to manage their financial life.

Why outsource your family office services?

Outsourcing your family office services to Cheng & Co offers:
– Tailored solutions to suit your needs.
– Provides a holistic approach to facilitate informed decisions to plan a family’s future. 
– Access to the professional expertise of financial planners. 
– Complete privacy.