Case study 3
Setting Up a New Family Office

SBC Generations were approached by a young client in her late 20s that had recently had a ‘liquidity event’ and inherited approximately £50 million. Although she was a very entrepreneurial individual she was not expecting to receive her inheritance at this stage of life and therefore only had a limited level of experience.

SBC were tasked with helping her to develop her assets, being entrepreneurial she wanted to strike a balance between investing and growing the various businesses she had inherited but still maintaining some degree of stability and safety for the assets she had recently inherited. Although wealthy, by most people’s standards it was suggested that she didn’t have enough assets to make it financially viable to create her own ‘Single

Family Office’ and she was personally not happy about using private banks based on previous bad experiences her of her father.

Two obvious possibilities were explored, setting up a multiple family office or starting her own virtual family office. For various cultural, social and financial reasons it was decided that she preferred the flexibility and control of a virtual family office. Thus leveraging modern technology to give her, her own personal daily updated dashboard of her asset value. SBC also hired a number of specialists that were able to deal with particular areas of her portfolio in a cost-efficient manner. Two permanent staff members were also hired to help run her private and professional life.

This resulted in a relatively cost-efficient way of creating her own small virtual single family office that gave her the flexibility and control that would not have been possible with a multiple family office or a private bank.

SBC also helped develop her internal emotional intelligence (EQ) with executive coaching and as with all of its clients using the ‘Four-Quadrant approach’ of dealing with the internal processes of the individual focusing on the individual, as well as the external systems and social and emotional context of a person’s life.