
A seat inside The Global Family Office Community (GFOC), one of the most discreet and secretive networks in the world, where community of families that control fortunes worth billions of pounds is effectively a floating private members’ Clun for the world’s wealthiest families meeting around the world at private dinners, retreats, seminars and conferences.
Over 2, 500 families are now members of this elite exclusive club. They are not chasing the next big deal, but advice, perspective and this is one place they discuss the problems money cannot solve, “No one is pitching anything at them, it’s a safe place where they can come together, build that peer-to-peer interaction, and learn from one another’s experience” Vahe Vartanian the founder of GFOC said. “Taxes, legal issues, that’s the job for the family officers. When it comes to the community, we are looking at what families care about their children, their reputation, their legacy, philanthropy and their passion,”.
In June 150 members gathered at a five-star hotel just off Park Lane in London for an all-day conference. Members’ talks ranged from Britain’s industrial strategy from the government’s trade commissioner for Europe and the risks artificial intelligence poses for family offices.
Some billionaries left Britain and migrated to Dubai. Last time GFOC met in The Breakers Hotel in Palm Beach and the Ocean Prime restaurant in Beverly Hills.
The rich families need a space like this to find ways to preserve fortunes because the greatest danger rarely comes from markets, tax or bad advice. “The Biggest risk to any family system is the family itself.” Vartanian said.
Reenie Hoare, a partner at C Hoare & Co Britain’s oldest privately owned bank, a member of GFOC, said “ Either the family implodes or the organisation does, while investment mistakes can usually be recovered from, family breakdowns are often much harder to fix.”
