Family business conglomerates encounter diverse challenges over their lifespan. Notably, issues such as the absence of proper organization, the blurred distinction between personal and business assets, the inadequacy of the initial corporate framework to accommodate the family business group's growth, and the identification and resolution of inefficiencies across various domains pose significant hurdles.
At 720, our team comprises experts adept at pinpointing existing inefficiencies within the business group across various domains, including structural, legal, tax, and accounting. We excel in formulating strategic plans to address these issues. Moreover, our multidisciplinary capabilities empower us to provide comprehensive support to our clients across all operational spheres.
Family Office as a Service operates in two phases, depending on the stage of the family business group.
Holistic assistance for the Family Office: 720 addresses challenges across every facet of the family business group, providing tailored solutions.
Our diverse approach enables us to meet challenges through a comprehensive array of integrated services within the Family Office as a Service:
Outsourcing of accounting, administrative, and tax processes: Overseeing financial and analytical accounting, personnel and payroll administration (registrations, cancellations, payroll calculations and settlements), and preparation and filing of company tax returns, etc. Additionally, we boast a specialized team for implementing and developing ERP (Netsuite).
Tax planning and legal support: Advising on operations and structures, corporate guidance, ongoing legal and tax counsel, and complete legal management.
Generational transition management: Executing succession plans, training family members for shareholding, and implementing a family legacy.
Wealth management: Assisting in defining and structuring medium to long-term investment strategies (comprehending the current portfolio, defining the target portfolio, roadmap, and implementation).
Cybersecurity in the family: Providing solutions for efficient cybersecurity management (data security, security strategy, employee training, monitoring and analysis of security intelligence, etc.).
Corporate governance: Implementing risk management structures, defining senior staff responsibilities, and providing training on Family Office activities, etc.
Philanthropy: Involvement of the next generation, creation of philanthropic legacies, etc.
Assessment and Blueprint for the Family Office: For family business groups contemplating the establishment of a Family Office, we propose an initial phase involving an executive assessment of the structure and a presentation of potential courses of action.
Our specialists conduct a thorough analysis of the family's wealth and business structure, concentrating on crucial factors such as:
Challenges faced by the family and the business; Level of maturity and professionalization within the structure; Examination of financial, administrative, and management control functions from a process, personnel, and technology perspective; Identification of potential legal and tax inefficiencies in the existing corporate framework; Preliminary assessment of data security; Initial analysis of the economic, financial, and asset position of the group.
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