Three things you need to know about family office services

Published: Tuesday 26 November 2019

Nicholas Smail helps to demystify the ‘family office’ by giving his insight on the top three things to know about our family office and how our services could protect your family’s future.

1) What is a family office?

We work with a large number of families and just as each family is different, so are the types of family office services we offer. Ultimately, it is a one-stop place for families from successful business owners through to the mega wealthy, where all their financial planning, tax planning and accounting needs are managed. The core aim of the family office is to help your family protect and enhance their wealth.

Our family office services include:

  • Family wealth
  • Financial planning
  • Tax
  • Managing the family business

2) Who can benefit from our family office?

If you hold assets with a value in excess of £5 million you should be looking at our family office services.

One of the biggest benefits of a family office is that we can enable the smooth and efficient transition of private wealth between different generations of a family. At Hazlewoods we are currently working with the fourth generation of some families – that is more than 50 years of providing the right advice from generation to generation.

3) Bringing everything together: the Red Book

By bringing together our key advisers we can create the overall family balance sheet and take the time to understand the needs of all family members.

Whether it is inheritance tax, thinking about succession planning or trusts, it can be hard to make decisions on the future for your family. That is why we make that process as easy as possible for you. We have the expertise and can balance giving good advice with fulfilling your wishes.

The ‘red book’ is a comprehensive report and review of all aspects of your family wealth which we offer at Hazlewoods. It gives the entire family all the information you need in one place. This helps you see the complete picture for your convenience and understanding, and can be produced annually or as part of planning from key family events such as an inheritance.

The right advice from a trusted partner

As one of the UK’s top 30 independent chartered accountants and business advisers, with over 360 staff in Gloucestershire, talking to one of the team at could prove invaluable to help protect your family for the future. Call on 01242 680000.

Key contacts

Nicholas Smail
Nicholas Smail
Partner
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Gary Cook
Gary Cook
Partner
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