The Benefits of Private Banking Advisory for Family Offices

As the wealth management needs of multigenerational families grow increasingly complex, many family offices are turning to private banking advisory services to augment their in-house capabilities. This specialized support can provide a valuable layer of expertise.

The Family Office Landscape The roles and responsibilities of modern family offices continue to expand rapidly to encompass activities like:

• Managing liquid and illiquid investments across asset classes

• Tax, estate, and philanthropic planning

• Trust and corporate entity structuring

• Family governance and wealth transfer preparations

• Business oversight and direct investments

According to the Global Family Office Report 2022 by Campden Research:

• 74% of family offices now have allocations to direct investments

• 43% provide concierge services outside of investing

• 40% actively manage operating businesses

Delivering seamless execution requires a diverse set of specialized skills often beyond a single family office's core competencies.

The Value of Private Banking Partners

This is where partnering with a dedicated private banking group can provide significant value-add through tailored solutions, resources and product offerings. Key benefits include:

Comprehensive Wealth Planning

• Coordinated advisory covering investments, trusts, taxes, and generational planning

• Facilitation of complex situations like business exits or liquidity events

• Access to advanced planning tools and analytics

Elevated Banking Capabilities

• Customized credit facilities, deposit products, and cash management

• Robust capabilities for global payments, foreign exchange, and custody services

• White-glove service delivery experience

Direct Investment Support

• Deal sourcing and capital raising assistance

• Introductions to investment banking and corporate finance advisory

• Enhanced due diligence resources and strategic advisory

Selecting a Private Bank Partner

When evaluating private banking partners, key criteria for family offices should include:

• Understanding of complex family dynamics and multigenerational needs

• Robust open architecture platform with extensive investment capabilities

• Proven track record working with ultra-high net worth clients

• Reputation for exceptional service quality and privacy

• Global reach and capabilities aligned with family footprints

As one family office principal remarked, "Our private bank allows us to focus on strategy and governance knowing world-class execution is in place."

For family offices navigating the intricacies of substantial wealth, the right private banking partner can provide an invaluable force-multiplier across all their endeavors.