Can you present your company in a few words?
Luxembourg For Family Office was created with the focus of developing Family Office structures to support Families in governing their historical or future wealth. Within the association it is an alliance among families to collaborate and to provide a platform and proactive perspective in the family office and business world. We speak up for them in the family office space in Europe and beyond. A friendly place for families to gather for independent information, education share issues, find solutions and support. An independent tool kit for families to be successful in their business, financial and personal lives.
“Today Luxembourg is too much focused on institutional clients and fund servicing.”
What are the new challenges and opportunities that you identify ?
It is also an unfortunate truth that the sovereign wealth of the world is the highest in written history and capital has been totally absorbed by governmental institutions at the expense of the private sector and family investors. The Zero Economy is a reality and shall remain so for many years ahead, leaving little opportunity for economic growth and actually endangers pension, savings and retirement planning. Many families have realized that there is precious little capital going to the private sector and that is where the future lies for any kind of economic growth. That is where jobs will be created, new ideas and technologies developed. New ways established to support communities, their cultural, economic and social life.
How do you see the future of Luxembourg?
Luxembourg should reshape their old famous flexible regulated framework. Today Luxembourg is too much focused on institutional clients and fund servicing. It is time to turn again to the family space and private sector to unleash the global economy. Families need to stand up for what they have done before for centuries. Luxembourg should attract people and investors to create a niche for families and Family offices. Luxembourg should be a place where families and family offices can rely on their banks, financial advisors, asset managers or intermediaries to protect and create wealth. As written in 2010 we should be able to create the fourth Pillar for the Wealthy with a worldwide digitalization and so we can be the Hub again and create economic growth for our next generations.