Family Office
Priwexus has been a pioneer in the Indian family office education space through its family office events, education programs and research work that it has been offering since 2013 (earlier under the aegis of AIWMI). Since inception, the founding team of Priwexus has been helping business families form family offices, fostering a valuable peer network, hosting the industry’s best events, and serving as an educational resource to members of the family office community.
The establishment of family offices is a big undertaking and there have been cases where family offices have not met a family’s expectations.
Priwexus is being set up as an independent resource offering unbiased research, prolific peer network and unmatched learning experience to help high net-worth families set up Single Family Office (SFO) or select a Multi-Family Office (MFO).
A SFO is a private company that manages the financial affairs of a single family. Typically, a fully functional SFO will engage in all, or part of the investments, fiduciary, trusts and estate management of a family; many will also have a concierge function.
A MFO manages the financial affairs of multiple families, who are not necessarily connected to each other. A MFO might also manage the fiduciary, trusts & estate business of multiple families as well as their investments. Some also will provide concierge services. Most MFOs are commercial, as they sell their services to other families. A very few are private MFOs, whereby they are exclusive to a few families, but not open to other families.
At the heart of any family office is investment management, but a fully developed family office can provide a number of other services like:
Financial Planning – Investment management services, Philanthropy, Life management & budgeting
Strategy – Business & financial advisory, Estate & wealth transfer, Training & education
Governance – Reporting & record keeping, Administrative services, Succession planning
Advisory – Tax & legal advisory, Compliance & regulatory assistance, Risk management & insurance services