By Richard Joynt – Head of Family Office & Stefan Le Marquand - Manager, Private Capital

Overview

In an increasingly interconnected world, clients are becoming more complex, international, and multifaceted. Their affairs often span multiple jurisdictions, asset classes, and regulatory frameworks. These pressures create a growing demand on the time, knowledge, and coordination of family office personnel.

HIGHVERN’s outsourced family office services provide a centralised and professional support platform and brings together governance, reporting, management oversight, and risk monitoring within a secure and tailored framework.

Acting as a trusted hub, we oversee matters ranging from corporate structuring and consolidated reporting to international governance, staff, payment administration, and back-office administration. In doing so, HIGHVERN deliver clarity, continuity, and control which allows clients to focus on their broader priorities and their personnel to support them without fear of overstepping or creating an error.

In Depth

The term “family office" is widely used and often means different things to different families. At its core, however, a family office exists to serve as a centralised resource and cost centre, coordinating the financial, operational, and administrative aspects of a family’s affairs. Without the right structure and expertise, this hub can quickly become fragmented or difficult to govern.

HIGHVERN’s outsourced family office offering is designed to bring clarity and structure to that complexity. We help families centralise and professionalise their operations by combining cross-jurisdictional expertise, experienced professionals, and proven processes within a flexible, tailored framework that is bespoke to clients and their families.

Our services span the full lifecycle, from initial structuring and governance design through to ongoing administration and oversight. The includes developing family charters, supporting next-generation engagement, implement robust payment and reporting processes, ensuring compliance across jurisdictions, and delivering clear consolidated financial and operation reporting. We can also act independently at board level where appropriate to bring an independent eye to family governance.

Importantly, an outsourced family office is not intended to replace a family’s existing personnel. Instead, it provides the structure, oversight, and governance framework within which those individuals and third-party advisors can operate effectively. This enhances transparency, strengthens risk management, and ensures that a client’s affairs are managed in a consistent, controlled, and sustainable manner.

The below case studies demonstrate the variety of ways that we can deliver solutions to family offices of a variety of sizes and scale. It is also important to bear in mind that it is often difficult to prepare for every circumstance, and that is why HIGHVERN prides itself on tailoring its services to the needs of every client and office.

Case Study 1: The Internationally Mobile

UHNW Individual - Western Europe - Dual Structure - Internationally Mobile - Philanthrophy

Background

An Ultra-High-Net-Worth individual (the Principal), resident in Western Europe and internationally mobile lifestyle with no material UK ties, sought to rationalise and consolidate her arrangements following a period of personal complexity. The objective was to establish a simple and cohesive structuring capable of supporting but her personal and international financial affairs.

Onshore Structuring (UKCo)

HIGHVERN’s role:

Provision of full management services, including:

• Directorships

• Registered Office

• Company Secretarial support services

• Banking and payment administration

• Contract and document governance

• Oversight of external accounting and tax reporting

Core functions of UKCo:

Acting as a central coordination hub for operational governance relating to the Principal, including:

• Oversight of all contractual arrangements, including; legal agreements, contract engagements, ICT and cybersecurity frameworks, aviation/charter documents; and associated insurance policies.

• Oversight and supervision of the General Counsel (GC), Chief Investment Officer (CIO), and Executive Assistant (EA), in addition to procuring temporary staff as and when required.

• Collation of consolidated reporting to the Principal on her assets and administrative position

• Provision of professionalised counterparties and liability protection via corporate structuring

• Establishment and oversight of the philanthropic structuring for the Principal, acting as a professional representative on the board of the Charity, and assisting with the ongoing governance framework for the Charity

Offshore Structuring (HoldCo)

HIGHVERN’s role:

Provision of full management services, including:

• Directorships

• Registered Office

• Company Secretarial support

• Banking and payment administration

• Investment and general asset monitoring

• Accounting and international tax reporting

Core functions of HoldCo:

• Acting as a central holding company for all international assets and legacy structuring

• Acting as a corporate investment committee chair, providing oversight and reporting to the structure both internally and externally as required;

• Acting as a corporate signatory in respect of the relevant investment and banking accounts

  
  

Practical Operations

Within this structure, HIGHVERN are able to deliver a scalable end-to-end family office solution for the Principal, which affords her the peace of mind knowing that there is a centralised governance framework, effective continuity of functionality of the office, enhanced risk management, and confidentiality provisions via the corporate veil.

HIGHVERN can also subsequently present reports on a regular frequency to the Principal, whether they be details of key projects and ad-hoc updates on her lifestyle, or consolidated financial reporting and performance updates by virtue of the engagement with the C-level staff.

The structure is underpinned through careful and advised usage of cost-plus arrangements, tri-party service agreements, and appropriate tax management consideration – including handling VAT returns and Corporation Tax filings in the UK, as well as the donation of a substantial portion of profits to Charities, either domestically through a UK Charitable Company or through a Donor Advised Fund as appropriate.

Case Study 2: Building a UK Base

HNW Entrepreneur · Canada to UK · FIG Regime · Visa Sponsorship · Domestic Staffing

Background

A High-Net-Worth Entrepreneur (the Principal), who has moved to the UK from Canada to take advantage of the Foreign Income & Gains (FIG) regime, requires assistance with a visa as well as procuring domestic staffing services as part of her lifestyle. Her primary asset management family office is still situated in North America, and she continues to have structuring in the Channel Islands for her international assets but she is now in need of a UK family office to support her domestic affairs.

Onshore Structuring (UKCo)

HIGHVERN’s role:

Provision of full management services, including:

• Directorships

• Registered Office

• Company Secretarial support services

• Banking and payment administration

• UK Home Office representation and document retention

• Oversight of external accounting and tax reporting

• Monthly financial reporting and house account management

Core functions of UKCo:

• Employment of UK based domestic staff which are then contracted out to the Principal on an arms’ length basis for the purpose of generating a baseline income stream for the business

• Application to the Home Office as a Skilled Worker Sponsor Vehicle and subsequently sponsoring the Principal for entry into the UK as an employee. Including sponsorship stress testing and secure electronic document vaults.

• Oversight of the back-end administrative needs of the house, and supporting the House Manager with any financial requirements, or employment queries from time to time.

• Procurement and oversight of all relevant insurance policies as may be required.

• Holding quarterly board update meeting with the Principle on her business activity in the UK in line with the business plan and quarterly board reports.

Practical Operations

Within this structure, HIGHVERN are able to underpin and support the lifestyle of the Principal moving to the UK, both for the duration of her FIG regime period, and beyond if she so should choose to stay.

HIGHVERN provide appropriate independent layering between the Principal and the Structuring outcomes to ensure that there is robust oversight and integrity to maintain the viability of the business enterprises. HIGVHERN provide monthly reports to the North American family office of business activities, costs, and similar cash-flow projection which feed into the Principal’s consolidated worldwide reporting. This is supported by a robust, shared electronic document dataroom between HIGHVERN and the North American office.

Careful planning has been undertaken to ensure that there is appropriate separation between the domestic staffing contracts and the business operations of the Principal, and additionally, appropriate reporting is in situ to ensure that all relevant UK tax filings are handled, and payroll is adequately managed.

Case Study 3: Roots & Branches

UHNW Family · Middle East to UK · FIG Regime · Trading Business · Dual Entity Structure

Background

An Ultra-High-Net-Worth Individual (the Principal), who has moved to the UK from The Middle East to take advantage of the Foreign Income & Gains (FIG) regime, requires assistance with a visa for him and his family. As part of this, he is also desirous to establish a UK trading and operating business (OpCo), as well as build a support network for his family and his domestic staff needs (FamCo).

Onshore Structuring (OpCo & FamCo)

HIGHVERN’s roles:

Provision of full management services to the OpCo, including:

• Directorships

• Registered Office

• Company Secretarial support services

• Banking and payment administration

• UK Home Office representation and document retention

• Oversight of external accounting and tax reporting

• Oversight of HR requirements and business employment needs

• Final sign off on all contracts and agreements for sale

Provision of full management services to the FamCo

• Directorships

• Registered Office

• Company Secretarial support services

• Support with running of personal bank accounts for the Principal

• Support with the facilitation, procurement, and maintenance of domestic and personal staff for the family

• Support and front-line/1st line assistance with domestic affairs including high-level House Contract Management, and electronic document oversight and retention.

Core functions:

OpCo:

• Ensure that all appropriate UK Home Office representations are in order to support the sponsoring of skilled workers, and that all documents retained are stress tested.

• Oversight and final sign off of initial contracts and engagements with suppliers and distributors as appropriate.

• Oversight of compliance in line with other organisational staff by virtue of regular board meetings.

• Assistance and oversight with the running of the Company bank accounts and the general maintenance of the offices of the business.

FamCo:

• Acting on request for the contractual review, delegation and interpretation of matters relating to the Principal and the family.

• Obtaining appropriate advice and general information in respect of the Principal’s affairs, and providing guidance on best practice implementation.

• Procuring and overseeing domestic payroll in the name of the Principal and ensuring that all relevant HR matters are tended to in a timely manner.

• Acting as a ‘First Responder’ on new matters and requirements for the Principal to support his and his families’ needs on lifestyle affairs relating to property, education, and similar.

Practical Operations

There are two aspects to HIGHVERN’s services within this structure:

For the purposes of OpCo, HIGHVERN provides robust corporate governance for both the integrity of the business under the requirements of the UK Home Office, but also to ensure that best practice governance and back-end HR compliance is instilled and followed by the day-to-day stuff running the business.

For the purposes of FamCo, HIGHVERN provide the full suite of governance and back office services direct to the Principle and their family as and when required. Important distinctions have been made and clarified as to the role of HIGHVERN as a ‘first line of defence’ for transactional or significant matters occurring in the UK, and we provide guidance to the Principal’s team in respect of day-to-day execution and oversight.

In both cases however, we also act as the keyholder to the electronic document storage, and ensure that the Principal and his business interests are well maintained, whilst establishing a clear line of separation.