Our Services
Westwick Melrose & Cromwell provides families and their family offices with unmatched expertise in delivering complex assignments.
For the limited duration of their mission, our partner becomes the operational arm of the family, setting projects and solutions into motion or ensuring the family office runs smoothly.
The combined skill set of our partners covers any area required to run a family office in both normal and extraordinary times.
These include, but are not limited to, the list below.
Operations
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Families may require an immediate CEO replacement for various reasons.
Westwick provides the ideal resource to cover the interim period.
Rapid implementation: Within days, one of our partners will act as interim CEO, ensuring minimal downtime and disruption to the family office operations.
Excellence: Our partners have a strong track record and are renowned for their trustworthiness, family values, and results-oriented mindset.
Family Office structuring: When requested during the interim tenure we will suggest and implement changes to the family office structure, purpose, or team to align with the family's vision.
Recruitment support: Once back in “business as usual” mode, we ensure the right candidate is chosen by the family as the next permanent CEO by overseeing the recruitment process.
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There are times when families need to change the way their family office is being run, including broadening their team, refreshing their advisor circle and operational strategies. Westwick provides comprehensive support to restructure the family office, ensuring it aligns with evolving needs and goals.
Strategic assessment: We conduct a thorough assessment of the current family office structure, identifying areas for improvement.
Advisor circle revamp: We help evaluate and restructure the advisor circle (investment committee, board, family council etc), ensuring the right group of people is advising to meet the family's objectives.
Operational optimisation: We streamline or re-gig operations to provide for enhanced efficiency, reactivity and grounded decision processes.
Governance and compliance: We establish robust governance structures and ensure compliance with all relevant regulations.
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Family offices often find themselves unequipped to handle major M&A deals, including when selling the main family business. Westwick provides comprehensive support to ensure the family's interests are represented and the best possible deal is secured.
Family voice: We act as the family's representative, ensuring their interests are prioritised and protected throughout the M&A process.
Project management: We manage the project with banks, lawyers, tax advisors, and other involved parties, coordinating all aspects to ensure a smooth and efficient transaction.
Optimal deal: Our expertise and negotiation skills ensure that the family gets the best deal possible, maximising value and minimising risks, including tail risks.
Family support
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Exits and buyouts are critical family moments that require careful planning and execution to ensure unity and long-term wealth preservation.
Westwick provides the action-oriented expertise needed to support the family in these pivotal situations.
Unity protection: We prioritise maintaining family unity throughout the process, ensuring that all decisions align with all family members.
Working along advisors: We work with the family's trusted advisors, ensuring their advice is fully accounted for in the decisions made.
Wealth preservation: Our strategies are designed to preserve and grow wealth over the long term, safeguarding the family's financial future for both leavers and staying members.
Framework: Based on the asset allocation and liquidity, we architect the best solution to preserve both parties and distribute risks fairly.
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Only 30% of family offices and businesses survive a generational change. Westwick works indifferently ahead of or after the change of generation to establish the right plan, ensuring wealth and control are transferred and preserved for future generations.
Based on the family guidance, we provide:
Strategic planning: We develop a comprehensive plan tailored to the family's unique needs, ensuring a smooth transition of wealth and leadership.
Family governance: We establish governance structures that promote unity, clear communication, and shared values among family members.
Wealth preservation: Our strategies are designed to preserve and grow wealth over the long term, safeguarding the family's financial future.
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In case of generational change, Next-Gen might find themselves not feeling ready or legitimate to take over the family office or family business. Westwick coaches these family members to grow their skills and confidence levels, ensuring a smooth transition and long-term success.
Skill development: We focus on enhancing the skills required to manage the family office or business effectively, providing tailored coaching.
Confidence building: Our mentoring services are designed to boost confidence, helping the next generation feel prepared and legitimate in their new roles.
Leadership program: Westwick will find the right program in case a more in-depth leadership training is required by one or more family members.
Continuous support – We provide ongoing pro-bono support to ensure that the transition is smooth and that the new leaders feel confident and capable in their roles.
Asset control
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For various reasons, families can lose control over a direct investment or such an asset has diverged from its initial wealth creation expectations. We refer to these situations as runaway assets.
Westwick provides the action-oriented expertise needed to support the family in regaining control over those assets.
Rapid evaluation: We evaluate the situation to understand the extent of control loss or divergence and identify key areas for intervention.
Recovery strategy: We develop and implement a tailored recovery plan to regain control of the asset.
Hands-on intervention: Our partners bring extensive experience and the right skill set to handle complex recovery processes, whether it involves legal, financial, or operational challenges. We might recommend third-party assistance when needed.
End-to-end management: Our commitment is simple: we’ll do everything required to give back the control of the asset to the family or correct the diverging strategy.
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Many family offices do not require a full-time CIO but cannot afford to overlook their investments.
Westwick does not provide investment advice but we oversee asset allocation strategy and supports family decisions.
Flexible engagement: Our service adapts to match the family’s needs and investment goals.
Transparent reporting: Interactions and reporting from third parties are adapted to ensure full transparency.
Rigorous decision-making: Reinvestment and divestment decisions proposed by the family's investment advisors are analysed and summarised, prioritising the long-term value of the portfolio.
Objectivity and neutrality: We operate on a fixed fee basis with no commissions or hidden agendas, ensuring complete impartiality.
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Controlled businesses divestment, and investment can require hands-on involvement from the family.
Westwick provides the action-oriented expertise to support the family during those inflexion points.
Efficient decision-making: We streamline the process by handling routine matters, doing the homework, and preparing decisions on behalf of the family.
Family representation: We act as the voice of the family towards all stakeholders (internal and external). We ensure family decisions are implemented.
Expertise: Whether it’s an M&A deal, asset restructuring, or managing complex assets, Westwick partners bring extensive experience and the right skill set.
Flexibility: Our approach is focused and tailored, with a roadmap that aligns with the family’s needs and the complexity of the assets.
Family Office services
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Establishing a family office is a significant step towards managing and preserving the family's wealth and legacy. Westwick offers comprehensive support to create a family office tailored to its unique needs.
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Relocating a family office is a significant decision that can be driven by various strategic reasons. Westwick works with the family’s advisors and implements the practical relocation process from A to Z, ensuring a seamless transition.
Once the family has left, we provide operational representation on the assets left in the departed country. This reduces family members need to return physically to the country.
We can manage all aspects of the relocation, from planning to setup, ensuring a smooth move.
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Family offices can strongly benefit from technology to improve operations, reporting, and communication. WMC Westwick helps family offices choose and implement the correct technology tools to enhance efficiency and productivity.
We can oversee the implementation , ensuring that both new and old systems run in parallel for a period to evaluate functionality, data integrity, and accuracy, and coordinate functional training for all users.