A knowledge network for Family Offices to evolve from a family with assets to a professionally managed and modern Family Office that comprises multiple generations. The main aims of this multidisciplinary programme are knowledge development and knowledge dissemination. The input is provided by academics and practitioners, and knowledge exchange among the participants plays a key role, enabling strong network relations to be developed.
The programme focuses on two crucial elements: the family and the assets. In terms of family, we are referring to succession, previous/current/next generations, family cohesion and dynamics, active versus non-active family members, family governance, development of human capital, purpose and more. In relation to assets, our focus is on wealth planning & management, direct and indirect investment strategies, philanthropy, impact investing, etc. This programme takes a deep-dive into how a professionally managed Family Office aims to amass different types of capital: financial, but also human, intellectual, social and emotional. Explicit attention is devoted to the added societal value that a Family Office can deliver alongside its capital management (through a purpose-driven strategy).
Module 1 – The Family Office approach: family & assets
An introduction to the Family Office landscape in Belgium and abroad. When do you start a Family Office? What is the goal of a Family Office? How do you organise a Family Office? Which models are there? What are the essential governance aspects of a Family Office? What types of capital can a Family Office help to develop? The emphasis lies on different practical examples, both local and international. Alongside this, specific attention is paid to networks.
Module 2 – Family dynamics and emotions: how do you align different interests and determine your purpose-driven Family Office strategy?
Families grow with each new generation. The risk of family assets being destroyed has little to do with money, but primarily with worsening relations as a result of other priorities and a lack of internal alignment. How can you align complex dynamics and varying objectives, and transform these into a shared, purpose-driven Family Office strategy? How can you establish structures and practices to move from an individual (‘I’) to a collective (‘we’) vision, so that the assets can remain across the generations in the family? This module is particularly relevant from a societal perspective and focuses on the family within the Family Office.
Module 3 – Investment options and organisation of financial assets across the generations
Healthy financial management of assets is an essential task for a Family Office. What are the pros and cons of different investment options (e.g. direct versus indirect investments, public versus private markets, bonds versus shares, impact investing), and how do you optimise the spread of your assets? How do you implement an investment strategy? Do you work with partners or organise everything in-house? How do you translate a purpose-driven Family Office strategy into an investment strategy? What are the advantages and disadvantages of different investment options?
Module 4 – (Cross-generational) Governance structure, communication and lifecycle of a Family Office
What are the foundations of a professional governance structure? What steps are possible to safeguard a professional governance structure for a Family Office? How can you establish healthy decision-making structures to align different interests? We look at the governing bodies of a Family Office, including the family council, board of directors, investment committee and the Family Office management team. We deep-dive into the organisation of these bodies, paying attention to formal structures (e.g. rules around selection of members, reward policy), informal structures and practices (e.g. rituals and traditions). Additionally, we pay specific attention to the development of a Family Office's human, intellectual and social capital. We look in depth at culture management across generations.
Module 5 – Managing direct investments
Direct investment in businesses is an important strategy to create value as an investor. What are the challenges around directly investing in different types of businesses (e.g. start-ups versus buy-outs)? How can you structure such investments? What role can a holding company play? What governance-related challenges are there with such investments? What is the competitive advantage of a Family Office over other direct investors?
Module 6 – Intervision
The participants present their long-term Family Office strategy and related actions. What insights have they gained? How are they going to get to work on this? What is their action plan?
For families with a recently established or to-be-established Family Office represented by the Principal (and maximum 3 family members).
Professor of Corporate Finance
Sophie Manigart is an experienced teacher, researcher and advisor in entrepreneurial finance, venture capital and private equity.
Professor of Marketing
Marion Debruyne is passionate about the strategic side of innovation – and the innovative side of strategy.
Executive in Residence
Jan De Bondt is an experienced founder with a solid history in investment banking.
Adjunct Professor of Finance
Jan Longeval has vast expertise in asset management – and brings years of experience in finance to his teaching at Vlerick.