DA-Tax
The Hybrid Model
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The advantages of a hybrid model are
1. Lower overheads as smaller premises.
2. More flexibility as the Office is built around mobile IT and so can relocate easily.
3. Family members can access services remotely which provides greater geographical flexibility.
4. Easier to outsource particular functions and also take them back inhouse.
5. Staff easier to recruit if given remote working option.
The disadvantages of a hybrid model are
1. Security. IT systems have to be robust and fool proof.
2. Security of staff handling information at home to ensure no information passed to outsiders.
3. Less day to day synergy with staff in an office. This can be dealt with by meetings in the office on a regular basis.
4. Possibly harder to mentor and educate family members in finances
It will turn on costs and the family's preferences. Most family offices are probably already moving in this direction.
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