UBS’ Global Family Office Report highlights the extent to which family offices are broadening their investment horizons, moving beyond the more traditional public markets and assets like stocks and bonds to place a greater emphasis on alternative investments, such as private equity. At the same time, direct investing – bypassing traditional fund structures – are finding favour, whilst sustainability, a desire for evidenced impact and a more professional approach to philanthropy are influencing the approach too.

But changing course is often not as easy as families think. Multiple generations of diverse stakeholders, complex global structuring frameworks, cross-border regulatory complexity and an economic environment that is constantly shifting can pose serious questions.

Assessing the landscape

Any assessment of a structure should start by taking a deep dive into key family documentation – trust instruments, letters of wishes, investment principles and policy statements, a family constitution or charter together with any other existing or proposed governing documents., One should consider the ultimate aims of the family as they stand, undertaking a gap analysis that will inform new frameworks around the investment objectives, strategy and operational function and provide an ability to assess whether external skills are required to support the anticipated change.

Whilst the assessment would naturally include an evaluation of recent investment positioning and performance, it is an opportunity to conduct a rigorous review of existing structures within the context of the overall family framework, alongside an evaluation of the proposed direction of travel and how that aligns with the family’s values and vision.

It is only after undertaking an assessment of the overall landscape alongside new or existing advisors that a family can embark on a new investment direction on solid ground, equipped with the right tools – far better to do the groundwork properly than to run into difficult, and perhaps costly, issues further down the line.

At a practical level, such an assessment will also inform any new structuring that needs to be undertaken to achieve new aims – whether establishing certain ringfenced vehicles is necessary or whether existing structures can be used. A more holistic review considers which vehicles are best suited to achieve the investment aims, from traditional trust structures, private companies, or very private funds which, once agreed, can kickstart the setup of the bank and custody accounts required to operate and trade on the investments.

Whilst ensuring that the governance provisions of the structure align to the family, we must also consider the practical challenges represented by each engagement, including the appropriate services, reporting framework and costs, particularly where the latter is to be considered as part of broader investment performance. . Guiding investment principles and investment policy statements then become a key part of these considerations and represent another opportunity to unite the family with their fiduciary and advisory teams.

Seamless

Ultimately, any change a family makes will carry a risk of disruption to ‘business as usual’, which is why a service provider partner should always look to make any transition as seamless as possible. That means providing an independent project management service, bringing in the right people to make that change happen – from custodians, investment advisors and bankers, to tax and legal advisors.

Speed of course is important – time out of the market represents an opportunity cost in losing out on potential returns. But it’s also a question of getting the right people and the best possible advice. That’s why it’s also so important to seek the support of an experienced trustee with a network of good, reliable contacts who can ensure all the right experience and expertise is brought to the table to facilitate a seamless change in direction.

That requires a deep understanding of the family as well as a positive working relationship and an appreciation of the need to have good, honest and open conversations.

Added benefits

It is often these questions which trigger a broader discussion around a family’s wider objectives and operational framework.

Is there flexibility baked into the overall framework to allow for future change? If you consider that 12% of family offices plan to establish another branch in due course (Deloitte Private), there is a real need to consider future flexibility in the context of the wider international market. Tied to that, there is also the opportunity to consider the rapidly changing demographic nature of families – geographical spread and family complexity for instance.

In all these instances, an assessment stemming from an investment strategy shift can help bring these issues in other areas of a family’s business to the fore.

As a result, whilst it may seem that undertaking a comprehensive review to support a change in investment strategy might be onerous, doing so can not only help realise those realigned investment ambitions, but support a far more efficient, better governed family operation overall too.

Competing in the 100k distance, Fabio will test his limits through running rugged terrain, medieval towns, deep forests, and breathtaking coastal trails. Fabio is taking on the personal challenge to raise awareness and funds for Youthful Minds, a local mental health charity dedicated to supporting the mental wellbeing of young people in Jersey.

In this Q&A, he shares his motivation, training journey, race day strategy, and the deeper purpose behind his challenge.

Why is raising awareness for youth mental health so important to you?

Mental health support is so important, particularly for young people who may not have access to the help they need. When the charity gave a presentation to our team, and shared stories of those who have benefited from their incredible work, it really resonated with me. As Crestbridge’s chosen charity of the year, I wanted to raise awareness and support their mission. If this effort helps even one young person ,then it will be more than worth it.

How have you been preparing for the race?

I’ve been training for the last five months, dedicating 10-15 hours a week to a mix of road running, trail running, and gym work. Nutrition is a big focus too, I’ve been eating plenty of protein and complex carbs to keep my energy levels up. I did have a setback with a knee injury that slowed me down for a few weeks, but I adjusted my training and kept pushing forward.

What has been the most difficult part of training?

The last five to six weeks have been brutal. Training in the dark and in the cold – it takes a lot of mental strength and motivation. The hardest part is getting out the door, but I remind myself how far I’ve come. I tell myself, ‘If you don’t want to go back to where you came from, get up and get it done.’ That keeps me going!

Do you have a strategy for the race on the day?

I have a simple strategy – take it one checkpoint at a time. I won’t worry about who’s ahead or behind me – just focus on my own race. I’ll stay fueled, hydrated and keep my mindset strong. It’s all about pacing and keeping my body moving forward.

What will be going through your mind as you cross the finish line?

Relief, pride, and probably exhaustion! It will be a huge personal achievement but I’ll also be thinking about why I did this in the first place – raising awareness for Youthful Minds and proving to myself that I could push through.

How can people support your fundraising efforts?

Crestbridge Family Office Services have kindly donated £500 towards the challenge, and I’ve set up a JustGiving page with a goal of raising £1000.

Any donation, big or small, makes a difference.  You can donate here: Fabio’s JustGiving

What message do you have for young people struggling with mental health challenges?

There’s always light at the end of the tunnel. Whatever you’re going through, don’t give up hope and be sure to speak to someone.

About Youthful Minds

Youthful Minds is a voluntary participation group in which the young people aim to educate others about Mental Health, tackle and reduce stigma surrounding Mental Health and Mental illness and aims to improve services for Children and Young People in Jersey through sharing the voice of their lived experience. The group meet on a weekly basis and are actively involved in raising awareness and improving services outside of their weekly meetings too. Youthful Minds promotes self-confidence and self-esteem and allows young people to make a meaningful difference within an area they are passionate about.

The £500 donation was prize money awarded to Karen Morris, Head of Finance at Crestbridge FOS, following her winning the Jersey Society of Chartered and Certified Accountants (JSCCA) President’s Award for Inspiring Leadership recently.

The accolade, which is in memory of late JSCCA president Chris Stuart, recognises those who have shown inspiring mentorship, prioritised and invested in team members, and helped them reach their full potential. Recipients of the JSCCA award are presented with £500 to gift to a charity of their choice – with Karen choosing Youthful Minds, which is part of Mind Jersey and works to support the mental wellbeing of young people living on the Island.

Crestbridge FOS recently pledged to support Youthful Minds as part of its ongoing commitment to the local community for 2025. The charity was deemed a natural fit due to its alignment with the business’s clear focus on supporting client families and emphasis on the wellbeing of its staff.

Over the coming year, the team at Crestbridge FOS will help the charity, which is led by volunteers and this year marks its 10^th anniversary, to raise awareness around mental health in young people and undertake fundraising initiatives to help provide the charity with financial assistance.

Commenting on receiving the donation, Amy Hall, Children, Young Person and Families Service Manager at Mind Jersey, said:

“This is a very welcome donation from Karen and the team at Crestbridge Family Office Services. We’re looking forward to working with the team further as part of their support for us this year, as we continue to raise awareness around mental health in young people in the island.”

The decision to support Youthful Minds – which is part of Mind Jersey and is dedicated to supporting the mental wellbeing of young people in Jersey – represents a natural fit for Crestbridge FOS, with the firm having a clear focus on supporting client families and placing a significant emphasis on the wellbeing of its own people and their families.

As part of its support, the team at Crestbridge FOS will help the charity to raise awareness around mental health in young people, and undertake fundraising initiatives over the course of the year to help provide the charity with financial assistance.

Youthful Minds, which marks its 10th anniversary this year, is led by a group of volunteers aged 11-26, all of whom have a passion for raising awareness and reducing stigma around mental health in Jersey. Through its ongoing outreach programme, the charity aims to educate and raise awareness around children and young people’s mental health in Jersey; to reduce stigma around mental health and mental illness in young people; and ensure the voices of those who have experienced mental health problems are heard.

Commenting on the support for Youthful Minds, Heather Tibbo, CEO, Crestbridge FOS, said:

“Supporting the vital work of Youthful Minds is a natural fit for us, aligning perfectly with our values as a business. Families and young people are at the heart of everything we do – both in terms of our clients and our own people, many of whom have young families. We are therefore very alive to the challenges young people and their families face, both professionally and personally.

“The work undertaken by Youthful Minds is absolutely critical in building a safe and supportive environment for young people in Jersey, and we look forward to building a strong relationship with the amazing team at the charity over the coming months.”

Amy Hall, Children, Young Person and Families Service Manager at Mind Jersey, added:

“We are delighted to have the support of the team at Crestbridge Family Office Services this year, in what is an important 10th anniversary year for us. Their support will be hugely helpful as we continue to raise awareness around mental health in young people in the island, and ensure that young people’s voices, ideas and experiences continue to shape and improve mental health services in Jersey.”

Heather is included in the 2025 eprivateclient 50 Most Influential list, published this week.  The list, produced annually, celebrates the 50 most prominent figures from across the private client landscape in the UK and Crown Dependencies. Identifying those who are driving progress in the sector, being selected takes into consideration the achievements and contribution of key individuals over the past year.

It is the seventh consecutive time Heather has been featured, reinforcing her position as one of the most authoritative figures in the sector and underlining the impact of her leadership, as the firm has continued to grow as an independent and privately-owned business over the past twelve months.

With more 25 years’ experience supporting the needs of UHNW individuals and families, Heather leads the business’ strategy, culture and values while also managing a number of the firm’s key client relationships. She has played a pivotal role in transforming Crestbridge FOS into a successful and diverse business, providing a comprehensive range of cross-border services to families and corporate clients in multiple jurisdictions.

Reflecting on the recognition and Crestbridge FOS’ growth journey over the past year, Heather said:

“While this recognition is clearly very pleasing for me personally, it is a reflection of the incredible journey that we continue to go on as a team at Crestbridge Family Office Services. Over the past year, we have remained fully focused on our growth and evolution as an independent and privately-owned business adding exceptional people to our fantastic team, supporting the career development of colleagues, gaining industry recognition, and enhancing our suite of services to support the increasingly sophisticated and complex aspirations of our UHNW clients. It is a privilege to lead this team and I’m excited about what we can continue to achieve together in 2025 and beyond.”

Daniel Cavey, who has significant experience working with complex structures spanning multiple jurisdictions including Switzerland, Cayman and the US, and Debbie Donaldson, who has a particular focus on supporting the objectives of high net worth Middle Eastern families, have both been promoted to Senior Manager.

In addition, Marta Latek, who provides a critical role as part of the team responsible for the day-to-day administration of one of the firm’s largest clients, has been promoted to a next level Administrator, and Jack Rondel, who provides support for multiple clients, becomes an Administrator.

Effective from 1 January 2025, the promotions recognise the achievements and contribution of these team members to the business over the past year, whilst also evidencing Crestbridge FOS’ ongoing commitment to supporting professional development and nurturing talent.

Congratulating those being promoted, Heather Tibbo, Chief Executive, Crestbridge FOS, said:

“Supporting the professional ambitions of our people and giving them the opportunity to thrive is something that is absolutely embedded in our culture as an independent and privately-owned business, and with that in mind it’s wonderful to see these members of our team developing with the business and receiving the recognition they deserve. 2024 has been another busy year in our journey as a firm, and it is testament to the shared contribution of our whole team that we are in such a strong position as we look forward to another exciting year of growth and evolution in 2025.”

Held in Jersey last week (5 December), the Awards – now in their third year – celebrate and recognise individual and team excellence, knowledge and best practice across the private wealth sector in Jersey and Guernsey, with winners being selected by an independent panel of judges.

The win follows on from Crestbridge FOS being successful in the same category at Wealthbriefing’s MENA Awards in Dubai last month – a category the firm has won for two years in a row – with this latest award further underlining its capabilities in supporting families of wealth with their global, complex and increasingly diverse needs.

In selecting Crestbridge FOS for the Award, the judges noted in particular that the firm has continued this year to ‘excel in delivering tailored, high-quality fiduciary services with integrity and expertise’, with a ‘commitment to independence, client trust, and employee well-being’.

Commenting on the award win, Heather Tibbo, CEO of Crestbridge Family Office Services, said:

“This year, we have been acutely focused on continuing to build on the reputation we have earned over the past decade for providing technical excellence and top-tier client service, aligned with our strategy to differentiate ourselves in a highly competitive market. This award, which maintains our recent success in being recognised as a leading independent player in the family office space, is a reflection of those efforts and is testament to the collective expertise and experience of our growing team.”

Stephen Harris, ClearView Financial Media’s CEO, and publisher of Wealthbriefing, added:
“These awards are so beneficial as they give organisations the opportunity to clarify their strategic thinking, have it independently validated, be recognised internally and externally and to celebrate in style with their peers.”

The awards have been established to recognise outstanding contributions made by individual team members over the course of the year. Nominations can be submitted by anyone in the firm, and sit across the three categories of our core values Integrity, Professionalism, and Agility. Our judges reviewed all the nominations, ultimately settling on a winner and runner up in each category. Those names announced on the night were:

Integrity: Debbie Donaldson, Manager (winner) for her energy, dedication, kindness, and commitment to her team, and Sarah Eden, HR Business Partner (runner up) for her work with the social committee and championing of inclusion.

Professionalism: Charlie Lucas, Administrator (winner) for his consistently impressive delivery of often highly complex work, and Marta Latek, Administrator (runner up) for her dedication to client service and unswervingly positive disposition.

Agility: Roxana Dumitrache, Team Support (winner) for her tireless and flexible cross-functional support of colleagues, and Ian Carr, Facilities Officer (runner up) for ensuring we benefitted from a comfortable and safe office, made more challenging in this year of relocation.

The variety and quality of nominations in this first year was impressive, making the judges’ task anything but easy. We would like to extend our congratulations to this year’s winners and runners up.

Now in their eleventh year, the Awards were held in Dubai last week to celebrate and recognise excellence, knowledge and best practice across the private wealth sector in the Middle East and North Africa region, with winners being selected by an independent panel of judges.

The win reflects Crestbridge FOS’s deep understanding of the Middle East region, a market where it has developed strong relationships over a number of years, supporting the global and increasingly complex objectives of a growing number of families based in the region.

In selecting Crestbridge FOS for the Award – which the firm also won last year – the judges noted in particular ‘the firm’s dedication to the Middle East, evidenced through its continued enhancement of Sharia-compliant structures’, as well as its wider growth and evolution as an independent business over the past year.

Heather Tibbo, CEO of Crestbridge Family Office Services, commented on the award win:

“To have won this particular Award for the second year in a row is a reflection of our sustained focus on delivering superior client service to families in the Middle East. This is a region where, as a team, we have gained considerable experience and knowledge over a long period of time. There is no doubt that clients appreciate our team’s ability to understand their needs and demands as well as our specific Islamic Finance capabilities, and we continue to focus on enhancing our service capabilities in this important region.”

Stephen Harris, CEO of ClearView Financial Media’s and publisher of WealthBriefing, added:

“We have seen a marked increase in entrants and interest in all our global awards programmes and Wealthbriefing MENA is no exception. These awards are so beneficial as they give organisations and individuals the opportunity to clarify their strategic thinking, have it independently validated, and be recognised internally and externally.”

Daniel and Faizal discuss how Gulf based families are choosing to structure their wealth, and which of Jersey’s wealth management products they are choosing and why. Plus, Daniel shares key insights into working with Gulf based family offices and enterprises, and how he sees this developing.

Listen to the episode here: https://jsy.fi/3YoTciF