Family enterprises and wealthy families represent a sizable portion of the market in Lebanon and the Middle East region. This is due to the traditional background that prevails. More and more families are facing succession-planning challenges and wealth preservation issues due to lack of available know-how within the family, coupled to the upheavals of rapid changing financial and competitive environments.
Banque BEMO’s Family Office is a key addition to the wide array of financial services offered by the Bank. In a region where services are the main source of income and in a financial industry where services and products are the main reasons why banks exist, the Family Office comes to complement these services and to bring ideas that are not in line with the traditional and daily banking spirit. The Family Office is a concept that is starting to expand in Lebanon and the region and which is already well established in developed European countries and in Northern America.
Wealth accumulation allows you to make choices in the ways you live your life and how you impact the lives of others. Banque BEMO’s Family Office mission is to ensure that all clients have the plans and the strategies that will allow them to achieve the life goals that are important to them and to their families. Banque BEMO’s Family Office escorts the client through all major life events and evaluates the client’s objectives and needs at each stage.
While adopting the Client Centric approach, the Family Office solicits clients to whom the Bank’s services are being offered in order to win their interest and enquire about their particular needs. The importance of consolidating, in one single report, all clients’ accounts held with several Financial Institutions, highlights the inevitability of structuring the client’s wealth and preparing for succession. It benefits the client to reassess his situation by revisiting his wealth allocation and to draw a different plan, if need be. Having this overall consolidated picture enables the Family Office to advise clients on Financial Planning related strategies and to suggest appropriate Succession Plans. These are offered in different structures in both Fiduciary and Trust Accounts, and are diligently tailored to meet the individual circumstances of each client through the expertise of the Bank’s Legal Consultant.
Along with the Family Office services and investment advice, the clients benefit from the services of a team of specialists with legal, fiscal and financial technical know-how in order to safeguard the present and to build for the future.