Family Office Services - Genesis

We have witnessed the evolution of wealth management from an opportunistic, event-driven and reactive advisory to a more structured, diversified and planned science. In order to take Kotak Bank’s wealth management practice to the next level, one of the leading global consulting companies was engaged by the group to conduct a study among ultra-high net worth (UHNW) clients to understand their needs in depth and detail. These needs were then mapped with the gaps in the existing offerings and benchmarked against global practices. The result of this exercise a comprehensive new wealth management system – the “Family Office”.

Concept
As a part of a Family Office setup, the service provider / advisor metaphorically sits in an office situated out of the client’s home. Thus there is an alignment of interest between the client and the advisor. For making all the important investment decisions by the client, there is backing and support from an institution like Kotak Mahindra with its group companies and varied expertise. Moreover, it is important to appreciate that a Family Office is not just about investments and wealth management, but also about a host of value added services including estate planning and succession services through the Kotak Group companies.