Bedrock launches family office platform

Known for providing discretionary and advisory investment services across various asset classes, Bedrock has launched a family office to complement its investment management offering.

Bedrock says the launch responds to client demand for more efficient management of non-investment related personal affairs from professionals who combine diverse talents and can access a vast network of specialist advisers.

Founded in 2004, the firm has adopted the same principles it applies to its investment management services to its family office, which will be run by an executive committee.

Two of Bedrock’s managing partners, Sandy Koifman and Maurice Ephrati, CFO Jerome Zanus-Fortes and COO Keyvan Khosrovshahi form the committee.

Ephrati comments: “This next phase in our considered strategy for growth will help us cement our position as trusted advisers of choice for HNW families around the globe.”

Co-founder and managing partner Ariel Arazi says the decision complemented existing services to clients, although structuring the offering had been challenging.

“It has been difficult to price and we are still in uncharted territory a bit,” he admits.

“But we have to test what we are doing. Clients recognise that things are getting more complicated and we have to reorganise to protect their assets.”

Bedrock is charging a flat fee annually for a basic service or time involved, which will be reviewed if necessary.

Arazi says clients are prepared to pay for such services if they feel costs are reasonable and transparent.

Each situation and family requirement is different, but what clients have in common is an insistence on independent advice.

Other issues raised frequently involve succession planning, accounting and family ‘special projects’, which may be wealth regeneration or restructuring.

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