Wealth manager and private bank Coutts has relaunched its Private Office offering as Coutts Family Office (CFO).
The new-look service will combine strategic partnerships from NatWest Group and relationships with external providers, giving domestic and international family office and ultra-high-net-worth clients access to a wider range of services.
CFO aims to offer the bank’s wealthiest clients investment opportunities, tax and inheritance planning and the ability to facilitate their philanthropic plans.
Led by Warren Thompson (pictured), Head of Family Office and UHNW, clients will have access to asset finance advice on marine, aviation and automotive commodities through Lombard, and to an HR support service for families – Family Office at Home – powered by NatWest Mentor.
Thompson commented: “When we sat down to discuss the evolution of the UHNW market, both here in the UK and overseas, it was apparent that by bringing together the best of the bank and developing strategic external partnerships, we could build on the Coutts offering.”
CFO, which currently manages around £5bn of assets, is looking to increase that figure by investing in partnerships with external providers. Clients already benefit from a new relationship with BlackRock, which allows Coutts to use the asset manager’s platforms to make more agile asset allocation decisions.
Another new partnership, with London-based fintech firm Flagstone, will also give CFO clients access to interest rates from a curated range of term deposit products provided by a panel of third-party banks.
Thompson added: “It is vital we continue to analyse and invest in the best ways of managing our clients’ money. The new partnership with Flagstone means clients will benefit from greater variety.”