Omnia wealth management: Family office services for high-net-worth individuals in Portugal

• Autor(a) principal: Liluashvili, Ekaterine
• Data de Publicação: 2022
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/28035
• topic: Family office; Philanthropy; Sustainable investing; ESG; Impact investing; Family legacy; Filantropia; Investimento sustentável; Investimento de impacto; Legado familiar

Economic crisis and geopolitical instability have further increased the relevance of asset protection and family legacy preservation for ultra-wealthy tiers of society. Threats from climate change, Covid 19 pandemic aftermath, and rising inequality of wealth distribution worldwide keep escalating the pressures on wealthy families to engage their resources for the social and environmental good more efficiently. Traditional philanthropy is often criticized for being a tax optimization and political influence tool rather than a way of the charitable activity of the wealthy. Subsequently, innovative ways of charitable giving like sustainable and impact investing have emerged and gained relevance thanks to changing values of next-generation heirs to a fortune. Considering the insufficient focus of financial intermediaries on impact products, family offices are placed in a unique position to incorporate impact investment in core service areas of financial advisory as well as succession planning and legacy creation. This business plan proposes a new concept of a multi-family office with a dedicated impact advisory team, supporting Portuguese and international wealthy families to build a strong legacy by systematic integration of sustainability and impact factors in their portfolio and asset structure. Portugal is currently at the forefront of attracting high-net-worth individuals from all over the world due to quality of life, safety, and beneficial tax regime, therefore existing multi-family offices primarily target non-resident clientele. Omnia’s main objective will be to introduce the multi-family office concept to Portuguese wealthy families and promote Portugal as an alternative jurisdiction for international owners of fortune.