Family Office Creation

• Family Office Creation

Pepper International also assists families in the creation of stand-alone single family or multi-family offices. The company has been retained by families to create operations in the Middle East, Europe and the United States.

Pepper International believes that creating a new family office should be approached strategically. The company has developed a three-step process for moving from the idea to the opening of the office.

	Step One: Create a Strategic Business Plan First, a strategic business plan must be created that covers all of the major issues faced by the family office Number of families to be served Management, ownership and governance Products and services to be offered Staffing, location and technology Regulatory and compliance issues of the jurisdictions chosen Budget and timeline
	Step Two: Create an Operational Business Plan Once there is a general agreement on the strategic vision for the company, a detailed operational plan and budget must be created. Some of the activities of the operational planning phase are listed below: Interview potential vendors and evaluate proposals Select real estate, technology and furnishings for the office Obtain licenses in the jurisdictions where the family office will operate Set up compliance procedures and functions Create process maps for all important office functions Write policy and procedures manuals Write job descriptions for major employees Interview and hire staff Create client literature Build website
	Step Three: Open the Family Office Pepper International will remain involved with the project and help open the family office. Activities at this stage include the following: Train staff Make sure work flows are following process maps Answer questions and help with unforeseen issues