About the Award
This award applies to a team dedicated to meeting the comprehensive needs of several families and/or their trusts or branches of the same family. Please read the eligibility criteria for this award before entering.*
Focusing on the year 1 May 2020 - 23 April 2021 only, address all of the following five criteria: they are equally weighted.
1. Describe the team's approach to the listed MFO services (below) and describe which services are core to the team’s offering and which are outsourced (where outsourced, explain team’s approach to selecting/managing external providers).
2. Provide examples of how the team serves different generations of a client family and approaches the transition of wealth between generations.
3. Explain how the team identifies trends that will impact their client families and give an example of how the team has translated such a trend into meaningful service delivery.
4. Provide examples of the team’s skills and competencies, and its commitment to continued professional development and education.
5. Explain your fee structure and why this is in the best interest of your clients.
*To be eligible, the team must meet the following criteria:
(a) Be dedicated to meeting the needs of multiple families or multiple branches of the same family, and
(b) Provide a range of the following multi-family office services:†
- Managing the financial wealth of the family including investment portfolio, trusts, real estate and pooled and individual investments
- Oversight of owned operating companies
- Financial, tax and regulatory planning
- Cash flow, budgeting and bill-pay
- Record-keeping and reporting
- Family succession and estate planning
- Governance for the family system and its collective wealth, and
- Family learning and development, including preparation of the rising generation
- Trusteeship and company management
- Risk management and security (physical, reputational and cyber)
- Lifestyle (generally non-financial services)
† Though it is not essential that entrants provide all of the above services, the award is intended for those who provide, or have a key role in overseeing, a significant range of them.