The COVID-19 Coronovairus is affecting global supply chains, customers, employees, family offices and finance, and businesses need a plan to tackle and survive the inevitable disruption. Family offices, like most firms, are facing some exceptionally challenging times. In the current climate, formulating and executing guidelines to save companies and protect wealth is almost impossible, but proven strategies and expert knowledge can be the difference between success and failure.
The $502bn space where investments are made to yield environmental or social impacts while providing a competitive financial return has become progressively more appealing to families of substantial wealth since the Rockefeller Foundation first conceived the term in 2008. As global wealth continues to rise, so too does the number of new millionaires, and at present the question for every multi- family office has become one of recovery. Money is no longer invested exclusively to make more money, but also to restore a more resilient, resolute and robust world. The way in which family offices choose to navigate the increased risk, uncertainty and unpredictability now, will have lasting repercussions in the future. How should family offices rebuild short-term losses and communicate resiliency to their customers, employees, vendors and communities? Winner of the European Business Magazine “Strategist of the Year 2020”award, Romain Gerardin- Fresse, founder of GFK CONSEILS-JURIDIS, brings significant expertise from the wealth management industry, and is a personal advisor to several successful individuals.
The former political advisor, considered one of the top 10 legal experts in Europe, wanted to head a firm that would solve the legal problems of its clients, treating both the cause and the consequence. Employing a top strategist has never been more important, and GFK CONSEILS-JURIDIS offers proven expertise for situations that require deep analysis and detailed guidance on suitable strategies. The company’s USP rests both on the network of specialists they keep and their global approach. The availability of an extensive professional network enables high-quality multi-family offices to deliver comprehensive wealth management, and it is also instrumental in being able to provide a broad range of support services. The impact of the pandemic on global wealth management remains unknown, but the subsequent strategies that family offices employ will be critical to the future sustainability of the business.
GFK CONSEILS-JURIDIS provides innovative solutions to clients, allowing them to address and remedy problems quickly and with confidence. GFK CONSEILS-JURIDIS has a proven track record and experienced notable success since its inception in 2017, managing approximately €60m on average per deal. Located on the Promenade des Anglais in Nice, GFK CONSEILS-JURIDIS has a clientele of individuals, professionals and institutions such as hotel chains, real estate development groups and members of governments and royal families under its remit. Public figures or business leaders can call on the firm to resolve a crisis situation. The company is exceedingly service oriented, anticipating issues and providing timely, practical solutions.
GFK CONSEILS-JURIDIS is at the forefront of the crisis management and analytical expertise sector, accompanying clients from consultation to resolution, resolving litigation while ensuring the protection of the client. The company has won many highly sought after awards, including the Luxury Lifestyle Award “Luxury Multi-Family Office in France”. It has also won the coveted "Luxury and Crisis Management Firm of the Year 2019" by European Business Magazine by over 40,000 votes. Likewise, its founder Romain Gerardin-Fresse, is no stranger to awards. Previous honours include winning the “Banking and Finance Lawyer of the Year” title by Business Worldwide Magazine and he also received a nomination for “Man of the Year 2020”.
Forbes Magazine and celebrities yearbook PeoplePill described him as “one of the top 10 legal experts in Europe” and he is a regular contributor to the World Economic Forum Agenda. According to the 2019 UBS Campden Wealth Global Family Office Report, and this was before any inclination of a pandemic, more than 50% of the family offices surveyed were preparing for a recession. This is even more pressing now as 27% of families questioned said they directly invested in health care and social assistance. There is also prevalent investor concern that we are heading for a downturn to rival the Great Depression or the kind of dip that followed the global financial crisis. Rather than wait for the inevitable disruption, however big, there are pre-emptive next steps to take for recession preparedness, and crisis management companies like GFK CONSEILS-JURIDIS, can guide and advise going forward.
The enormous business continuity challenges posed by the pandemic are currently at the forefront of business leaders minds, and while most countries and companies are still very much in the crisis management phase, it is crucial to start thinking about how businesses can set themselves up on the road to survival, and more importantly growth, as we move into the next phase. While the wellbeing of staff, business continuity and money management is paramount, without a proven therapy there is still no exit from the COVID-19 coronavirus pandemic. Even when a vaccine becomes available the economic impact will be long lasting. Family offices must review whether their strategies remain fit for purpose, given the increased focus on organisational agility, technological advances and evolving expectations. Undoubtedly, the crisis has changed things irrevocably.
We won’t return to the old ways of living, working or doing business once the crisis has passed. Tomorrow will be very different which is why choosing the correct strategies and strategists today will have a huge bearing on the future. Finding a reputable handler for sensitive and confidential matters is not an easy ask, but GFK CONSEILS- JURIDIS, a member of the movement for a compassionate economy, transferring 5% of its net profit to humanitarian associations, is a number one choice. GFK CONSEILS-JURIDIS, represented on five continents and operating under the principles of expertise, discretion, efficiency and reliability, is a world-renowned trusted personal and business partner, and will help family offices navigate whatever the future will bring.