Family Office

Managing wealth can be a demanding exercise. It must be handled with care and invested with expertise. In business families, it is extremely important to ensure that wealth acquired by earlier generations is protected. There’s plenty of evidence to suggest that family wealth diminishes with each succeeding generation if not managed well. We at Karvy Private Wealth ensure that the wealth you or your predecessors have created endures.

How Karvy Private Wealth can help

  • We can help build structures necessary to manage inherited assets in common, rather than liquidating the assets and dividing the proceeds. Karvy ensures flawless legal documents so that the wealth transfer is easy and not challenged
  • Manage cash flows from the liquidation of the family business. The sudden liquidity could lead to investments in too many small assets that may not fit the portfolio. Investing requires different skill sets from setting up and managing a business
  • Facilitating an equitable forum to ensure the best use of the inherited wealth for every member, according to his or her needs
  • Defining the legal rights of each member

Karvy Wealth experts have over decades of experience in managing and investing wealth. And our family office professionals are adept at ensuring the longevity of your wealth.

Education of younger generations
One of the biggest issues facing business families is ensuring the smooth transition of ownership to the next generation. This generation could face different challenges as the business reaches maturity and enters a new phase of consolidation and expansion into different markets. To succeed in business therefore they will need to be adequately qualified and trained. Karvy Private Wealth helps you in your endeavour to ensure that the younger generation is up to the challenge.

According to a recent survey in the US, second generation members of business families felt that it was very important for them to educate themselves about family and board governance.

Karvy not only helps clients groom the second generation in taking over the business, but also offers assistance to them in another business or activity while managing the wealth acquired by the earlier generation. Even if they are not actively involved in running a company, family members should know about the basics of running a business to ensure that they are able to protect their interests.

Tax, trust and estate planning
As a wealth creator, one of your biggest priorities is to ensure that your family is protected and secure not only during your lifetime but even beyond it. You want your successors to inherit your wealth in a hassle-free manner and use it responsibly in line with your family’s vision.

At Karvy Private Wealth, our estate planning teams are adept at understanding the finer points of succession and guiding you in setting up a framework to ensure your wealth is protected, invested with purpose and smoothly transferred to your beneficiaries.

Our estate planning services include:

  • Help to set up trusts to manage and transfer your wealth
  • Wills, nominations and holdings
  • Administrative service like record keeping

Family Office

Just like a well-run company needs good Corporate Governance practices, a family too needs good Family Governance systems. This is especially true of high net worth families, where there is a lot at stake and there are multiple stakeholders with diverging interests. In families with inherited wealth, there may be several generations with divergent claims, and it may be difficult to manage them.

We at Karvy Private Wealth Family Office help you with family governance to prevent any conflicts and ensure the family business runs smoothly.

Typically, families handle challenges among members through the following mechanisms:

Family Council: This includes the elders of the family, who ensure healthy communication and resolve any conflicts among members, including those who are not involved in the family business.

Family Board of Directors: This is similar to the Board of Directors of a company. This include senior family members and independent advisors, and focus on training and development of family members, and dealing with continuity issues in the business.

Karvy Private Wealth Family Office ensures prevention or resolution of conflicts by helping you lay down policies and procedures for family governance.

Investment Office

How you invest your wealth to a large extent determines the kind of legacy you leave for future generations. India’s ultra-rich are turning to professionals to help them make the right investment choices.

The market is full of various investment options and asset classes. How does one make the right choice? What should be the criteria to select one asset over another? Which options are the safest? Which ones have the highest liquidity? What asset class will deliver the highest returns?

It’s important to evaluate a variety of parameters before making your investments.

Karvy Private Wealth specializes in helping HNIs and Ultra HNIs make smart investments based on their specific objectives.

Legacy Planning

What kind of a legacy would you like to pass on to your generations to come? You have worked hard to build, protect and accumulate your wealth- wouldn’t you like your family and loved ones to benefit from your efforts even after you? Legacy planning ensures that your property and assets endure beyond your lifetime.

Karvy Private Wealth Family Office experts guide HNIs, UHNIs, entrepreneurs, business owners and professionals in all aspects of legacy planning - be it planning their estate or getting the next generation ready for succession, drawing up the legal framework or ensuring efficient tax planning. Our aim is to ensure a smooth and seamless transition of wealth to your successors with minimal attrition.

Even as we focus on the legal, financial and technical aspects of legacy planning, we pay equal attention to the financial education of your heirs. Our experts will guide you and your family through a variety of issues, including governance, responsible investing, tax impact, philanthropy, sustainability etc.

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