Frequently Asked Questions

The Thought Leaders Initiative will energise our members, inspire them, add value by sharing insider knowledge, offer them a new perspective, break up the more routine aspects of what we have been doing.

Enhance the business opportunities of entrepreneurs in Finance and Financial Services. The Entrepreneurs get support from our partners in learning and our thought leaders with knowledge, advice, mentoring. The Entrepreneurs are empowered with the skills required to succeed; by working on their own projects or on PWFO projects.

A Private Wealth & Family Office (PWFO) practitioner supports individuals and families in their private wealth related decisions.

This is done by providing a holistic accounting and financial service that is 100% independent of any financial institutions and/or the management of any funds. 

Charging a fixed retainer which is negotiated in advance, a PWFO practitioner is paid only by their client and receives no third part commission.

As an independent financial professional who has trained with our Association, you’ll be in the ideal position to understand the current system and the way it’s failing so many (if not all) people.  With the deeper insight you’ll acquire, you can use your newfound skills to save your clients not only costs, but also time.  Many people today want to take advantage of the kind of expertise that will help them save both time and money. 

The ability to impart a sense of financial security is also highly in demand, by far more clients than just the Ultra Wealthy market sector. 

As a qualified Private Wealth & Family Office Practitioner, you’ll be perfectly placed to help protect the affairs of a financially diverse clientele, whether that be by managing their assets and the financial services they use, by protecting their current investments, or by steering them financially through tricky to navigate periods, such as a divorce or inheritance.

A Private Wealth & Family Office (PWFO) Practitioner: A professional practicing and offering PWFO Services

A Private Wealth & Family Office (PWFO) Practice: A professional practice or firm offering PWFO Services

  • A "Private Wealth & Family Office Practitioner or Practice is an individual or firm which provides independent, financial & non-financial services to private clients, families and organisations.
  • A PWFO Practitioner assists private clients and families in all the latter’s wealth matters. This is done in a systematic and organised manner by the PWFO documenting, noting and accounting for each decision.
  • A PWFO is appointed by the client to be  responsible for financial strategic planning. A PWFO selects, validates and monitors banks, asset managers, and other service providers to ensure that the they are meeting the client’s objectives investments objectives.  

 

  • A Private Wealth and Family Office Practitioner is not an investment manager and does not make investment decisions.
  • Appointed and paid by the client on a retainer basis, Private Wealth and Family Officer Practitioners are responsible for financial strategic planning.
  • A Private Wealth and Family Office Practitioner assists clients in all the latter’s wealth matters from an accounting, controlling and risk management perspective.
  • Sevices are provided in a systematic and organised manner.
  • The PWFO Practitioner will document, note and account for each decision.
  • For all investment decisions, they select, validate and monitor banks, asset managers, and other service providers to ensure that the client’s objectives are achieved,
  • Information Gathering
  • Risk profiling, goals and aspirations and 5 online questions
  • Lifetime Cash Flow Services
  • Wealth Planning
  • Tax Planning
  • Corporate Trust Services
  • Estate planning
  • Service providers due diligence
  • Investment Managers due diligence
  • Portfolio reporting software due diligence
  • Family Governance
  • Recording Monitoring and Reporting
  • Forensic analysis to support a claim a client may have
  • Data management (the process of acquiring, validating, storing, protecting, and processing required data to ensure the accessibility, reliability, and timeliness of the data for its users)

Here is an example of some typical PWFO services that have added 60% to the fee charged to an existing HNWI client.

  • Review all of their mandates and contracts with their service providers, banks, notaries, lawyers and others
  • Manage and archive all of their management mandates, contracts, statements, returns, etc.
  • Monitor accounts to ensure compliance with client strategy.
  • Full professional due diligence on all new investments, contractors, advice and business plans.
  • Verifications and negotiations of fees & expenses with providers and custodians.
  • Consolidation of accounts and different positions to give the client an overview of their financial position.

PWFO stands for Private Wealth & Family Office

The Private Wealth & Family Office (PWFO) Association is a community of members joining forces to become protectors of private clients and families by providing services that incorporate Swiss Standard and United Nations Sustainable Goals in wealth creation, protection, growth and succession planning.

The aim of the Association is to take a successful business model pioneered by Swiss Private Wealth & Family Office experts and pass it on to professionals who are keen to develop their client base or network, to expand into more lucrative business areas and to develop their reputation as trusted advisors.

Constituted on the 21st September 2018 and governed by articles 60 et seq. of the Swiss Civil Code we currently have in excess of 500 associates.

In addition to providing relevent and up to date practical courses, tools and support; the association assists members to draw a Career Roadmap that (as well as fitting in with their current career and  lifestyle) can guide members to capitalise on some of the opportunities that are presenting themselves.

A few potential Career Opportunities that the PWFO Association can assist and support you in realising and securing: 

  • Setup your own family's Family Office.
  • Setup a single Family Office for a High or Ultra Net Worth Family.
  • Open up a Private Wealth and/or Family Office division within your firm.
  • Open up new markets outside your current location.
  • Offering B2B Consultancy Services to  Financial and Non-Financial Services firms and organisation.
  • Setup a multi-Family Office.
  • Join a Family Office.
  • Move jobs into Private Wealth or Private Banking.
  • Become a "Partner in Learning".
  • Teaching Financial Education. 
  • Provide real-time professional consultancy to regulatory bodies, trusts and non-governmental organisations. 

The PWFO Association provides a range of services that support, promote, form and train qualified professionals to provide Private Wealth and Family Office solutions. These include:

  • Online courses
  • Classes & Workshops
  • Private Coaching
  • Webinars
  • Office solutions
  • International Networking Opportunities
  • Marketing & Branding
  • Conference Support
  • Professional Sales Support

Due to competition from artificial intelligence and the global economy; professionals are under ever increasing pressure to find new sources of business. For that, new tools and ideas are required.

As individuals and families continue to lose trust in the traditional Financial Services, 'Family Offices' as well as the Family Office Market will continue to grow.

Specifically because of their professionalism and experience, professionals are in a unique position to service this market.

The PWFO association provides a tried and tested vehicle to allow professionals to use their skills to move into and profit in and from this rapidly growing market.

There are currently 2 categories of PWFO membership.

  1. PWFO Associate Member - These are qualified professionals who have not yet been granted Fellow Member status yet.
  2. PWFO Fellow Member - These are qualified professionals who have been granted permission to practice as a PWFO - Swiss Certified.

Permission can be obtained through the PWFO Association Governing Body either by successful completion of the 12-Step PWFO Course or by demonstration of professional competence in the field of Private Wealth & Family Office Services.

  • PWFO: The abbreviation of 'Private Wealth & Family Office'
  • Private Wealth & Family Office (PWFO): The private wealth and family office practice as per the processes of the association
  • Private Wealth & Family Office Association: The name of the Association (Brand Name)
  • PWFO Association: Short form of 'Private Wealth & Family Office Association'
  • PWFO - Swiss Certified: (Brand Name) and also used to denote someone who has been approved to provide 'PWFO' Services by the PWFO Association and using the PWFO - Swiss Certified Label
  • Private Wealth & Family Office - Swiss Certified Practitioner: A person practicing and offering PWFO Services
  • PWFO - Swiss Certified Practitioner: Abbreviation of Private Wealth & Family Office - Swiss Certified Practitioner
  • Private Wealth & Family Office Practitioner: A person practicing and offering PWFO Services
  • Private Wealth & Family Officer: A Private Wealth & Family Office Practitioner.
  • PWFO Practitioner: Abbreviation of Private Wealth & Family Office Practitioner

 

 

The core services:

  • Recording, monitoring and reporting
  • Selects, validates and monitors banks, asset managers, and other service providers to ensure that they are meeting the client’s objectives investments objectives 
  • Safekeeping of Financial Data. 
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