Choosing a family office is a strategic decision with far-reaching consequences – for asset protection, tax planning and to safeguard values across generations. To offer you well-founded insights from different perspectives, we asked two experts from our firm to take part in a joint interview:
In a joint dialogue, they outline what really matters when choosing a family office – in a pragmatic manner, from different perspectives and with clear recommendations for entrepreneurial families and high net worth individuals.
Ralph Schuler emphasises: ‘High net worth individuals should delegate their tax, legal and real estate matters to a core contact person. Having a well-coordinated team of experts is crucial – and that is precisely what we aim to provide at swisspartners Xperts: fast and solution-oriented advice.
Sanjeev Premchand adds that a suitable level of complexity of the asset structure is key to ensuring that tailor-made services are cost-effective. In addition, the selected trusted advisor must be independent and objective in responding to the specific needs of the family.
A family office that genuinely acts in the interests of its clients must be independent. Ralph Schuler explains that swisspartners pursues a ‘best-of-breed’ strategy, whereby external services are purchased when necessary, but always with full cost transparency.
Sanjeev Premchand also sees the family office as a sparring partner that must be allowed to disagree – if this serves the long-term interests of the family. Trust and building a long-term relationship are essential in this regard.
In an increasingly specialised world, it is important to engage only the best professionals. ‘We invest in the ongoing training of our team every day and work with external experts whose expertise we regularly review,’ says Schuler.
Premchand adds: ‘Our independence is also evidenced by our legally separate entities, thereby avoiding conflicts of interest and ensuring that our clients receive objective advice.’
“We have a wide range of specialists from whom our customers benefit thanks to effective decision-making processes,” says Schuler. Premchand emphasises the significance of powerful internal synergies, which create efficiency and cost savings – and thus make bespoke solutions possible.
‘Some asset managers market themselves as family offices without having the necessary expertise in-house,’ warns Schuler. swisspartners offers comprehensive support – from the preparation of tax returns for Swiss clients to addressing complex international matters.
Premchand emphasises the importance of transparency: ‘It is important that all relevant information is shared early on and by both sides to avoid potential solutions based on partial data.’
According to Schuler, transparency and respect are the foundation for lasting success. Premchand goes on to say that understanding how wealth was created can provide valuable insights into how to best structure that wealth for future generations.
Schuler concludes: ‘Our wide range of services, combined with a high level of expertise, individuality and discretion, makes us unique. You concentrate on your core business – we take care of the rest.’
Premchand looks back at the company’s experience and concludes: ‘For over 30 years swisspartners has maintained a solid foundation of trust and transparency, which is key to our success.’
A good family office is more than a service provider – it is a long-term partner that acts independently and transparently, helping to successfully safeguard and manage assets across multiple generations.
