Wealth Side Stories #12: Family Office

Julia wants to introduce Emma to her family office team so that she can better understand how they operate.

Julia: Emma, Franck is coming today and I think it is time for you to start getting involved in our discussions with him so that you start to familiarize yourself with our family office team.

Emma: Hello Mom. Yes indeed, I’d love to understand better how our family office team works and what they do for us.

Julia: He is waiting for us in the office downstairs, come with me and I’ll explain to you on the way.

You see, the wealth of our family is substantial enough so that we should have professionals working with us to take care of it. Franck has been working with us for several years and he is aligned with our Private Banker to design investment strategies and wealth planning for our family in line with our family goals.

Emma: I understand mom.  So in fact Franck is helping us manage our wealth with our private banker.

Julia: Yes. You see there are opportunities in terms of investments or wealth management when we require expertise as well as a full view of our family assets and wealth. Franck has this global view and the expertise to help us manage this complexity and he interfaces with us to ensure we are presented with the key decisions to make.

Franck: Julia it is so good to see you again. I assume this is Emma?

Emma: Nice to meet you finally, Franck, I’ve heard about you for a while. I’m eager to hear from you and learn about your work.

Franck: With pleasure. I wanted to speak to you about the meeting I had with your BNP Paribas Wealth Management private banker.

We’ve been working together on a number of interesting opportunities he presented to me for the family. I’ve performed comprehensive due diligence to ensure they fit the family’s strategy in terms of asset classes and expected financial return. He presented me with their offering for family office and it is very helpful for us. Based on this, I will share with you some opportunities that I think are very interesting. We also discussed the financing for the new real estate you wanted to buy for the company and we are close to completion.

Emma: So you are working with our private banker?

Franck: Indeed Emma, my role is to help the family analyze all the opportunities presented to the family by our trusted advisors.

Julia: You see Emma, at the level of our family wealth, our trusted private bankers have to be able to rely on a professional that acts de facto as an extension of the family. Franck plays this role and helps us focus on the key decisions.

Emma: Great! I’m looking forward to getting to know you better. Maybe I can attend your upcoming meeting with our banker so I can start to understand better how these opportunities work?

Franck: That would be great Emma. I’m looking forward to it.

BNP Paribas Wealth Management Wealth Side Stories

In this new #WealthSideStories series, meet Julia, Simon, Emma and Mimma in different situations impacting their heritage. Discover the solutions that BNP Paribas Wealth Management offers them in response to their problems, whether in real estate or private equity investments, expatriation or diversification.

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