No longer the new kid on the block, Mayfair Private is making a name for itself on Old Park Lane. Fresh out of Lord Rothschild’s family office, CEO Morgan is enjoying the thrill of working for a new business. The firm was co-founded by Mishcon de Reya as part of a wider trend towards firms offering family office services.
‘Lawyers were frequently being asked to do more,’ says Morgan, and thus they saw an opportunity to set up a new business to meet their clients’ needs. Opus Private, the co-founder, was already doing similar things in Guernsey and Dubai, so the depth of knowledge was tried and tested there, he says.
The company has three core offerings: strategic advice (covering family governance, family office advisory, wealth and asset preservation, philanthropic structuring), facilitation (sourcing and protecting lifestyle assets) and special project work (Morgan frequently helps families moving to the UK to set up their own family offices). The process may begin with an assessment by a trained clinical psychologist to help families to identify and articulate their shared ambitions, visions and objectives — this often results in the preparation of a ‘family charter’.
Based on the complexity of the client’s affairs, Mayfair Private can then help families to plan, build and launch their own private family office, or provide that service on an outsourced basis. The overall aim, he says, is ‘to enable our clients to get on and live their lives’. The firm offers a single point of contact to procure, coordinate and oversee the multiplicity of professional services in which their clients engage.