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In recent years, trust services professionals for family offices have been in greater demand than ever. A growing number of the family offices we work with have been reconsidering their approach to trust services. Many have traditionally relied on external providers to manage and administer the complex trust structures that underpin their wealth management strategies. However, we’ve seen an increasing trend towards employing trust services professionals in-house, as family offices recognise the benefits of having a dedicated internal team to handle trust matters.
This shift allows family offices to exert greater influence over the management of their trusts, ensuring that decisions align with the family’s unique needs, values, and long-term objectives, and achieve significant cost savings while also streamlining operations and improving overall efficiency.
Bringing trust services professionals in-house gives family offices direct control over the management and administration of trusts. This allows for closer oversight of assets, investments, and distributions. With an internal team handling trust matters, family offices can ensure that decisions align with the family’s overall wealth management strategy and values.
In-house professionals are able to develop a deeper understanding of the family’s unique circumstances and can respond swiftly to changes or emerging needs. They are immersed in the day-to-day operations of the family office, giving them valuable context and insight into the family’s financial situation, dynamics, and long-term objectives.
Reducing reliance on third-party trust services means that family offices can realise significant cost savings. External trust service providers may charge substantial fees, which can add up over time. Optimising this expenditure by handling routine tasks in-house means budgets can be redirected towards other important initiatives or investments.
Employing trust services professionals as part of the in-house team streamlines the process of coordinating with external providers — as both internal and external teams are familiar with the intricacies of trust structures and up to date with sector best practices and norms, allowing them to communicate directly and efficiently. By bringing some of their trust management functions in-house, family offices can reduce duplication of efforts, and allocate resources more effectively.
In-house trust services professionals for family offices provide the flexibility and autonomy to develop highly customised trust structures and strategies that are meticulously designed to address the family’s unique needs, goals, and values. This depth of planning is often challenging to achieve when working with external providers, who may have more standardised offerings or lack an intimate understanding of the family’s specific circumstances.
Whether the primary focus is on wealth preservation, ensuring a smooth intergenerational transfer of assets, maximising tax efficiency, or facilitating philanthropic endeavours, in-house trust professionals are better positioned to design effective strategies.
When trust services professionals for family offices are brought in-house, they can be seamlessly integrated with other key functions such as investment management, tax planning, and philanthropic activities — introducing greater efficiencies as well as improving internal communication and collaboration.
This holistic approach ensures that all aspects of family wealth are managed in a coordinated and cohesive manner. In-house trust professionals can work closely with other team members to develop comprehensive strategies that consider the full picture of the family’s financial situation.
In-house trust services for family offices provide a stable, long-term framework for managing wealth across generations. The family office can ensure continuity in the management of trusts, even as external service providers may change over time.
This is particularly important for multigenerational wealth planning, where a consistent approach and deep understanding of the family’s history and values are essential. In-house trust services for family offices can help preserve and transfer wealth effectively while maintaining the family’s legacy.
For family offices seeking greater control, customisation, and cost-efficiency, having trust services professionals in-house offers compelling advantages. In an increasingly complex and evolving wealth management landscape, having a dedicated in-house trust function, supported by top talent, can provide a robust foundation for long-term success and continuity.
By working with a trusted recruitment partner like Victus Search, family offices can streamline the process of building their in-house trust teams, ensuring they have the right expertise in place to manage their wealth structures effectively. Our deep understanding of the structure and specific needs of family offices allows us to identify candidates who possess not only the necessary technical skills and experience but also the personality and values that align with the family’s ethos.
If you’re recruiting trust services professionals for family offices, Victus Search can help you source the exact talent you’re looking for. Contact us for an initial consultation to learn more.
Whether you’re looking to fill a specialist role, or seeking the right position to deploy your unique skills and experience, the first step is to get in touch with one of our expert consultants.
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