CEOs & Founders: Do You Need a Family Office?

I have spent a couple of years advising CEOs and Founders on their personal affairs, and one thing sure stands out – their legal, finances and wealth planning needs are pushed to the back burner.  As a Founder/CEO myself, I can totally relate with this – between growing the business, taking care of your team and ensuring you survive especially in Nigeria. It can be a lot!

The idea of engaging ‘someone’ or a ‘team’ or ‘firm’ to handle your needs may have even occurred to you but then, you say to yourself – “do I need it?”, “I’m not even that wealthy to engage such a firm”.

You may be wrong.

One vehicle that has come to manage these personal affairs is the family office. A family office has come a long way from being just for the very wealthiest families to creating options that satisfy the risk and fee tolerance of many CEOs, founders, and entrepreneurs. Not only does a family office today exist to ensure that your family’s assets are properly protected, but it handles a wide range of other needs including bill payments, family governance & education, philanthropic planning, legal affairs, and lifestyle concierge.

So do you need a family office? – 5 questions to ask yourself

1.  Have my financial affairs & needs become complex that I no longer have the expertise and time to manage it? If yes, you need a family office.

2. Do I anticipate a significant liquidity event in the next 2-5 years? If yes, you should engage a family office.

3. Do I have have any means to assess my wealth manger’s performance? If not, you likely need a family office.

4. Does my existing financial advisor cover all my blind spots? If you have doubts, you likely need a family office.

5. Are my children or grandchildren ready to manage the family’s wealth for the long-term? If you have doubts, you likely need a family office.

How can I help?

Together with a dynamic and experienced team, The Legacy Haus (TLH) is on that journey. At TLH, we address all these questions and take a holistic view of your values, financial picture, family goals and plans and map out a cohesive structure that will last for generations with services including legal, family governance, liquidity & exit planning, transition, trust set up, lifestyle concierge, tax, wealth planning services etc.

A family office may be what you need to provide guidance, security, and peace of mind to help avoid costly missteps, giving you time to pursue what matters to you most. At TLH, we work with your advisors and ensure that your interests are properly protected.

It may be time for you to start thinking in this direction.

Let’s talk.

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