This article is for general information only. You should not act or refrain from acting in reliance of it. You should always obtain professional advice on the facts of your particular case. Nothing in this article constitutes financial advice. The owner of this site accepts no liability.

 

Conflicts of interest are inherent in wealth management and are often not obvious. They do impact on investment return.

A Family Office should be able to identify such conflicts and also be willing to minimise them. This is easier said than done especially if it involves long standing relationships or core under-performing assets.

Regular reviews of relationships is a good starting point to include professional advisers. Getting more diverse opinions and approaches is usually good. Ascertaining whether management and professional fees have altered is also sensible. If rates have fallen you are unlikely to be updated on this aspect by your supplier.

The remuneration of the managers in the Family Office is important and how they account to the family. The managers may include family members though usually outsiders will play important roles.

​

​

frenchtax@da-tax.co.uk

+44 (0) 7922 878 989