Family Office Advising

Family Office Advising

A Multi-Family Office is a unique structure that is created to provide tailored wealth management solutions (from investments to philanthropy) in an integrated fashion as well as family governance and succession planning services while promoting and preserving the identity and values of the family.

Today, there is an increased demand for services that cater to the transmission of capital and entrepreneurial control to the next generation. The internationalization of assets and changing lifestyles of wealthy families has made family offices critical instruments for more professional and organized wealth management.

The establishment of a SFO is a big commitment for a family business, and there have been cases when family offices have not met the family’s expectations. Cost and Expertise remain the biggest concerns in setting up a SFO.

To address the problem of the high operating costs of a family office and lack of a qualified talent pool available, families are looking out for Multi Family Offices (MFOs), which cater to multiple families across a range of family size, wealth and maturity levels. The sheer lack of MFOs in India presents a unique opportunity for accounting firms, law firms, financial planning firms, registered investment advisors, spin off teams from private banks, brokers, wealth management platforms as well as spin off teams from investment management firms, to establish a multi-family office platform to provide independent, non-conflicted advice solutions to their clients.

AIWMI has designed this 2-day Knowledge Workshop on “Family Office Advising” to help such aspiring professionals and firms in understanding the nuances of setting up and running a successful Multi Family Office.


Agenda

Day 1 Trainers
Session Timing Module Coverage  
9.30 am – 10.30 am Introduction of the Facilitators and Participants Aditya Gadge
  Setting the Context of the session  
10.30 am – 11.45 am
Introduction to the Family Office Aditya Gadge
Purpose and Definition of Famil Office  
Types of Family Offices  
Key Roles of Family Office  
Rising Trends among Indian Family Offices  
  Determing Family Wealth Management Needs  
11.45 am – 12 noon TEA – BREAK  
12.00 noon – 1.30pm Family Office Strategy Aditya Gadge
  Value Statements Importance of Mission Statement Importance of Vision Statement Building a Family Office Vision Aligning the Vision with a Strategic Family Office Plan Seperating Family Office from Family Business  
1.30 pm – 2.30 pm LUNCH – BREAK  
2.30 pm – 3.30 pm
Establishing & Strcuturing of Family Office Ashvini Chopra
Legal Enttites to Consider  
Who Should Manage the Family Office  
Family Office Costs  
   
3.30 pm – 3.45 pm TEA – BREAK  
3.45 pm – 5.30 pm
Family Office Operations Ashvini Chopra
Best Practices  
  Technology  
  Talent Management  
  Compliance & Documentation  
  Service Providers  
  End of Day 1  
  Day 2  
9.30 am – 10.00 am Refelction of Days 1 Aditya Gadge
10.00 am – 11.45 am
Investment Management & the Family Office Nitai Utkarsh
Goals-based Approach to Asset Allocation Investment Process & Review Role of Chief Investment Officer The Outsourced CIO Model  
   
11.45 am – 12 noon TEA BREAK  
12.00 noon – 1.30pm Governance of the Family Office Nitai Utkarsh
  Talent & Team Structure  
  Scope of Service & Delivery  
1.30 pm – 2.30 pm LUNCH BREAK  
2.30 pm – 3.30pm Case Study – Indian Family Office Nitai Utkarsh
  Family Genogram & Background Family Office Structure, Team & Functions Estate Planning Investment Management Legal & Comliance Standards  
  Reflection based on learning  
3.30pm – 3.45pm TEA BREAK  
3.45 pm – 4.45 pm Role of Family Office Professionals Nitai Utkarsh
  •Attributes  
  •Competencies & Skills  
4.45pm to 5.30 pm Conclusion and Way Forward Aditya Gadge & Nitai Utkarsh

 

Trainers

Aditya Gadge

Founder & CEO, AIWMI

  •  Founder & CEO- Association of International Wealth Management of India (AIWMI)
  • Founder & Principal Advisor- Indian Association of Alternative Investment Funds (IAAIF)
  • Member- Board of Directors at Association of International Wealth Management (AIWM), Switzerland
  • Member- Advisory Board at Family Office Group, USA.

Aditya has done his Masters in Human Resources, Masters in Economics and is a Certified Financial Planner. A prolific writer, Aditya has been regularly contributing to various business, financial and education publications. Aditya is also a Member- Editorial Board of International Family Offices Journal (Global Law & Business). Aditya has recently co-authored 2 books on Credit Research and 1 book on Global Family Offices.

Aditya is a Member- Occupational Standards Committee of the BFSI Sector Skills Council and is also a Member- Capital Markets Committee of Indian Merchants’ Chambers (IMC). Aditya is also a Mentor with some of the leading global start-up accelerators.

Ashwini Chopra

Sr. Vice President, Bennett Coleman

Ashvini Chopra (TEP) is Senior Vice President at Bennett Coleman. He Heads the Family office of the Promoters and takes care of Succession Planning, Tax planning, Wealth Management, Lifestyle Management, Entity management (for investment companies & Charity Trusts) and advising on Board constitution.

Simultaneously, he also works with other families on their Succession and Estate Planning issues and assists with Family Constitutions, formation of trusts and Wills. He has and experience of working with over 70 large and small families for their Estate and Succession requirements.

Prior to joining Times Group he was the founder MD and CEO of Universal Trustees Private Limited (UTPL), a company co-promoted by Dileep Choksi, Pradip Shah with ICICI Group as an investor.

He is a Diploma Holder in Trust & Estate Practice from STEP UK, an MBA in marketing and a commerce graduate. At UTPL he was responsible for completely setting up the company from scratch and advised over 100 families with their estate planning requirements.

Ashvini is also a member of Family Firms Institute, Inc. USA (FFI) and Family office Exchange. He regularly contributes articles to the STEP Journal and The Practitioner by FFI.

Having been a part of the financial services industry in times of fundamental change, he has amassed wide experience across the industry. Right from his first job, when NBFC sector was new to India to the current one at Universal Trustees, he has always tried to be in nascent industries. He joined a Mutual fund in 1997 when the mutual fund industry was going through its most tumultuous phase. In 2004 he joined the start-up team of another Mutual Fund which was India’s first focussed debt fund house. After being a part of the mutual fund for four years since the start of its operations and helping the fund to grow to INR 10,000 crores, he moved to ICICI Bank in its International Private Banking Unit.

In ICICI Bank Ashvini was identified with the business growth the bank witnessed in International Private Banking in East Africa and Philippines. He moved as Head of Sales for Private Banking of ICICI Group in the US & later he was put in charge of rejuvenating the private banking team in the UK as Head of Private Clients in UK.

He plays an active role in setting up the procedures and systems that in turn help the organisation to hold steady initially and reaps the dividends later on reaching new heights. At Universal Trustees, he made it his mission to make it the first system based trustee company in India and to that end contracted with a global software company to Indianise their existing software for use by UTPL.

Ashvini loves meeting people and visiting new cities. A keen reader, he loves reading various genres of books with his favourite authors being Ayn Rand and Issac Assimov.

Nitai Utkarsh

Lead - Investment Strategy, Hero MotoCorp Ltd.

A Financial Services professional with deep expertise in Family Office and the Investment Advisory space, Nitai leads the Investment Strategy and the Chairman’s Family Office for Hero MotoCorp Ltd.

One of the first set of professionals to have worked on Family Offices in India, Nitai started his journey with developing and executing the concept of Family Office for probably the first commercial launch of such services in the country.

As part of the Family Office offering, Nitai has founded and managed an exclusive team of portfolio analytics specialists, set up teams, policies, and processes for a pioneering boutique Multi Family Office firm and subsequently for two large, diverse, and global Single Family Offices.

Nitai holds a degree in Engineering from the Indian Institute of Technology and an MBA from the Indian Institute of Management. His interests and expertise lie in dealing with complex structural issues related to global wealth preservation and transmission and in implementing portfolio risk-reward optimization techniques.


Fee

For AIWMI’s Professional Members – Rs. 30,000

For Non-members – Rs. 50,000

*Fees is Exclusive of GST

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