The Importance of a Family Office
We provide administrative and coordination support to family offices and private clients with international structures.
Our services focus on organization, communication and coordination between clients and their external advisors, including legal, tax and financial professionals.
We assist with the administrative aspects of complex structures, ensuring efficient processes and clear communication.
Why You Need to Create a Family Office
There are a lot of complexities involved in the growth, management and protection of family wealth. Family offices have adopted new techniques to deal with the challenges of:
- Protecting family wealth – ensuring it is structured and is in compliance with relevant legislation and regulatory requirements.
- Spreading investment risk – by finding new ways to invest and diversify family wealth
- Improving family cohesion and general transition – by debating and coming up with strategic asset allocation and key investment decisions
- Managing personal affairs of family members – making life easier
As ALKA, our external specialists are well-equipped and capable of helping with the process of forming a family office. We provide services such as:
- Establishing the overall organizational structure and resource needed for the family office
- Analysing financial system needs, setting up general ledgers and subsidiary accounting ledgers, and assisting with the selection and implementation of appropriate technology
- Establishing and implementing policies, procedures and internal controls
- Organizing the development of budgets and forecasts
- Designing dependable financial and management reporting packages
- Developing and applying cash/banking structure, opening accounts, ordering checks, etc.
- Facilitating the flow of information through service providers (e.g., payroll companies, banks)
- Developing filing systems
- Structuring for income tax efficiency
We are dedicated to helping our clients find balance in the years ahead by offering better solutions to help them meet their objectives.