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Family Office

Mosaic Family Office is a leading provider of family office services in South Africa. The firm provides comprehensive family office services including incorporation of family office structures, company and trust administration, investment management, fiduciary services, tax compliance, etc.

Mosaic Family Office takes a holistic and multi-disciplinary approach to creating solutions that allow family office clients to protect and manage their wealth for current and future generations.

What is a Family Office?

A family office is a private entity supported by highly skilled professionals equipped to assist a family with corporate structuring, estate planning, fiduciary services, financial administration, income tax, investment management, philanthropic endeavours, and all other financial requirements.

The purpose of a family office is to grow and preserve family wealth in a safe and tax-efficient manner.

History of the Family Office

The modern concept of a family office emerged in the 19th century. J.P. Morgan, the New York banker who dominated corporate finance on Wall Street throughout the Gilded Age, founded the House of Morgan in 1838 to manage his family assets.

John D. Rockefeller, the American business magnate who made his fortune in the American petroleum industry, founded his family office in 1882. The Rockefeller wealth is housed in family trusts, most of which are still active today. These trusts own shares in the successor companies to Standard Oil and house the family’s diversified investments and considerable real estate holdings.

Throughout the 20th century, many other wealthy figures emerged and followed by J.P. Morgan and John D. Rockefeller’s lead. However, it was only during the latter part of the 20th century that the family office became an institution and made its way to the rest of the world.

Family Office Characteristics

While each family office is as unique as the family that it serves, there are some common goals that most family offices aim to achieve:

Family Office Benefits

The benefits of a well-structured and administrated family office include:

Offshore Family Office Structures

A well-structured and administrated offshore investment structure will allow a family to diversify risk across geographies and should ensure a family maintains its wealth for many generations.

There are numerous foreign financial centres where such a structure could be created, of which the Indian Ocean, Caribbean and Channel Islands are only a few examples. A thorough analysis of the advantages and disadvantages of each jurisdiction will enable the family to choose the one best suited to meet their unique needs.

The investment possibilities from such a structure are almost endless. They include safe government bonds of developed nations, shares in the largest and most innovative companies of the world, as well as modern investment products such as passive exchange-traded funds.

Family Office Regulation

Family offices face an increasingly complex regulatory landscape in which to operate in. Trusted advisors are required to navigate the legislations regulating company, compliance, fiduciary, finance, foreign exchange, foundation, investment, property, structured product, succession, tax, trust, and other related fields.

Family Office Services

Mosaic Family Office provides comprehensive family office services, including:

Administration

The firm’s administration services ensure the efficient operation and maintenance of inheritance structures. These services include:

Estate Planning

A carefully planned and executed will is a critical component of successful wealth transfer. A will is a most important aspect in the design of family inheritance structures to ensure the growth and protection of family wealth.

Fiduciary

The firm’s insolvency remote corporate trust companies provide independent fiduciary services to local and offshore structures.

Foreign Exchange

The firm’s foreign exchange services provide comprehensive solutions to all the currency needs of clients.

Investment Management

The firm’s investment management services offer our clients a wide variety of local and offshore managed share and fund portfolios, with competitive brokerage and management fee structures.

Philanthropy

The firm’s philanthropy services design, establish and administer public benefit organisations, allowing our clients to make tax-deductible donations in support of their philanthropic endeavours.

Structuring

The firm’s structuring services design and establish local and offshore inheritance structures in a safe and tax-efficient manner suited to the unique needs of each client, their families, and their assets.

Tax

The firm’s tax services include submitting annual and provisional tax returns, assisting with tax audits, obtaining tax clearance certificates, offering expert tax opinions, query management, tax registration, and all other related taxation services relevant to our clients.