Leeds-based Traditum Private Equity has launched a family office service.
The service aims to help high-net-worth families take a more strategic approach to their investment and tax strategies by coordinating multiple advice teams.
The family office provides a single point of contact to co-ordinate advisers and align their strategies.
As part of the service it will review existing Financial Planning and identify any potential gaps.
The team will be led by Trevor Sherlock and George Lyall.
Mr Sherlock is head of client services and was formerly head of private clients for EY’s UK financial services practice.
Mr Lyall is director of client services and a former partner with law firm Womble Bond Dickinson.
David Mitchell, founder and CEO of Traditum, said: “The typical high-net-worth family has between nine and 16 advisers across a range of disciplines from investment, private banking and taxation to private client, legal and property advice.”
“Our role is not to provide advice, but to reduce the complexity, coordinate the multiple strands of advice and ensure that a single strategy is deployed. The initial feedback we have received has been very positive. Advisers appreciate having an experienced professional team to co-ordinate advice and ensure they are delivering to a single strategy, while clients get a better service from their advisers.”
Clients are encouraged to develop a family charter – a document setting out their values and principles as well as medium and long-term objectives.
