Herald's approach to the provision of Family Office Services is to stick to its core expertise of providing fiduciary oversight and calling in external experts in the areas required by the family. All too often, wealth management and fiduciary services firms encounter conflicts of interest by attempting to provide too many specialised services in-house. The most notable is where fiduciary businesses own investment management businesses and attempt to channel their fiduciary clients into their in-house investment management products.
Herald's approach is one of total transparency with regard to its capability, its fee structure and disclosure of any outside relationships where conflicts might arise. Herald will not take any retrocessions from external service providers on Family Office structures and will always seek to negotiate the most favourable fee rates for the family. In this way, Herald aligns its own interests with those of the family.