Experience Makes all the difference
Families aspiring to multigenerational prosperity need to address the challenges facing their family, business and wealth. In a UBS study of 120 global ultra-high net worth families, 76% state they're either concerned or very concerned about wealth protection, while only 25% of those families believe their approach was adequate. Family business succession and strategic decision making can either pose a significant danger to family wealth or present an opportunity to be capitalized upon. At UBS, we offer a family advisory service to clients wishing to benefit from our experience of working with wealthy, family owned businesses.
Wavering support from the family, a constantly changing family situation, and a lack of knowledge about wealth preservation pose major threats to multigenerational family business success. At UBS, we offer practical advice on family issues which takes into account each family's situation and provides solutions in three key areas.
Family Governance: Well organized multigenerational families have unified financial goals, structured strategic decision making and limited unnecessary conflict. Our team can connect you with experienced third-party professionals who can facilitate the formation of your family's mission statement and a family council.
Family Business: It is critical to have an understanding of the family's vision regarding the business as well as the organizational structure. This analysis will often help uncover opportunities for prudent wealth transfer strategies. We will help you implement a succession plan that best meets your specific circumstances and define the role that your company will play in your family and estate plan.
Family Office: Making sure your strategies are in line with the objectives of each entity, providing oversight of the operating structure and proactively managing concentration risk are some of the most important factors related to your family's assets. UBS has a rich history working with family offices, and we can help you design your own structure or enhance the current arrangements, including defining the role of the family office within the family structure as well as advise on a structured investment process and/or investment advisory board.