“What is a Family-Office?”
Its historic roots lie in the 6th century, where the king’s stewards were responsible for managing royal wealth, with the nobles and aristocracy imitating this particular model soon thereafter.
A few well-known early examples of the modern family office concept can be traced to the 19th century, where the families of J.P. Morgan and Rockefellers founded their own private offices to manage their sizeable fortunes.
In fact, the family office of Rockefellers is still in existence and has been transformed to a Multi-Family Office (MFO) set-up by providing services to other important families as well. Nowadays, MFOs are centralised, dedicated offices that effectively manage all affairs of HNWIs, thus having a complete overall picture of their clients, which enhances efficiency, business substance and control. Different models and variants can be applied but the essence remains the same: dedication, exclusivity and a link between the current and new generation of HNWIs.
About Allegiance
Allegiance MFO & Trustees (hereby referred to as “Allegiance”) is a truly independent company, licensed in the provision of professional services. It represents the transformation of a single family office that was originally founded in 2011. The new transformed entity was set up in 2018 by Stathis Efstathiou, a recognized and reputable professional with more than 20 years of relevant experience, having assembled together a team of experts with diverse skills and specialized knowledge.
The firm is now acting as the clients’ global CEO by coordinating, controlling, reporting and managing their private wealth affairs – thus, creating the necessary link between the current and next generation whom we are responsible to safeguard and transfer the family wealth.
Allegiance is self-restricted in servicing a limited number of clients, channelling personalized attention and focus to clients’ individual requirements by providing exceptional tailor-made services.
How We Can Add Value
Our mission is to enhance the lives of our HNWI clientele by organising their finances and improving their family capital management, while ensuring that their structures are tax optimised. We protect their assets and investments via active board participation, practicing extreme rigour in how we monitor and manage risks, while also undertaking Trustee arrangements that serve as succession family planning. Such consolidation also ensures the privacy and confidentiality of business affairs.
Allegiance provides an excellent solution when it comes to adding substance to foreign structures. Based on clients’ expectations and investment profile, the decision-making capacity is delegated to our firm that takes care of the entirety of the group’s affairs.
The services offered also include independent feasibility studies and due diligence analysis on client-suggested investments, while periodically promoting cherry-picked investment opportunities that we are confident to co-invest in ourselves. Being an independent firm, our decisions are free from conflicts of interest caused by financial or opportunistic considerations. Our performance track record (investment returns) so far has been impressive, and we consider this to be an asset that we are keen to preserve.
Finally, we collaborate and liaise with an extensive network of service providers around the globe in the fields of fiduciary management, legal matters, custodianship, taxes, real estate, accounting, private equity and asset management. This network is being expanded on a continuous basis.
We are therefore a coordination, control and reporting hub for our clients’ private wealth issues, the link between the current and next generation whom we are responsible to safeguard and transfer family wealth –the global CEOs and trusted advisors of our HNWI clients.
