Guernsey Finance has produced a guide that focuses on best practice for single and multiple-family offices.
The report describes governance as the backbone of a family office, dictating everything from the investment strategy to the internal decision-making process that influences family members and can impact everything from their net worth to their living standards.
It also concerns the checks and balances of the way the office is operated, to ensure that established rules are being followed.
Guernsey Finance Chief Executive Rupert Pleasant commented: “We have produced this guide as we are keen to address the view that governance is not a major priority. We believe governance should be seen as a core value and that Guernsey is the natural choice for servicing and administration of a family office.”
• To view the report click here