Overview
A family office is a privately held company that handles investment management and wealth management for a wealthy family, with the aim to grow and transfer wealth across generations. The 2021 implosion of Archegos Capital Management has exposed many common problems concerning family offices. In this course, the speaker would highlight not only the basics but also the Dos and Don’ts of running family office(s).
Objective
By the end of the training, participants will have a basic understanding of:
- The setting up of a family office
- Operating a family office
- The relevant regulatory requirements
Content Highlight
PART A
- How and where to set up a family office?
- What is needed?
- Possible structures
- Licensing and taxation issues
- Transfer pricing
PART B
- How to run a family office
- What is needed?
- What are the risks?
- Governance, Compliance, Conflict and Privacy & security issues
PART C
- Focus on Hong Kong
- FSDC paper
- PWM and Succession Planning
- Common SFC requirements (licensing; discretionary power; fair treatment of clients; fair allocation of orders; reporting and etc.)
Who Should Attend
This course is primarily targeted at fund managers, asset managers, in-house counsel & compliance, senior management such as Responsible officers, Managers-in-Charge, directors, wealth management staff and anyone who would like to have a better understanding of a family office.
Instructor / Speaker
Richard GRASBY
Richard advises trustees, ultra-high net worth individuals, private trust companies and family offices on the establishment, restructuring and administration of trusts, including special trusts i.e. BVI VISTA, Cayman STAR and Employee Benefit Trusts. He regularly assists in estate administration, succession planning and family governance.
Richard has acted for many of the world’s leading trust companies, financial institutions, wealthy individuals and related structures. He has experience with dealing with clients and advisors across the globe. Richard has over 20 years’ post qualification experience with the majority spent in offshore firms. Richard has lived and worked in Jersey, London, the Cayman Islands and (since 2009) Hong Kong. He is admitted as a solicitor in England and Wales and the British Virgin Islands and is a Registered Foreign Lawyer in Hong Kong. He has also been admitted as an Attorney in the Cayman Islands.
Richard is an elected Academician of the International Academy of Estate and Trust Law (the only such offshore practitioner in APAC). He is also a Certified Anti Money Laundering Specialist. Richard is a lecturer on trusts and family offices for the Hong Kong Securities and Investment Institute and for the Hong Kong University of Science and Technology.
Administrative Details
Type 4 - Advising on securities
Type 9 - Asset management