‘We are challenging the big bank model, which tries to offer more and more services,’ says Phelps, director of Savills’ Family Office Services. ‘We are saying that we are good at two things: real estate advice and certain professional services,’ he adds. The division, set up in September 2014, has three core offerings for clients. First is Savills’ own real estate services — both the transactional property side and the nontransactional services of consulting and management. Next is guidance on family governance and dynamics, family constitutions, succession planning, mediation services and other related professional services. Finally, the firm acts as a collaborative and objective hub that refers families and their advisers to suitable experts in the intermediary sectors. ‘It is advice about advice,’ he says, with the team guiding families through the world of professional service advisers and helping to put them in contact with the most appropriate people.