Creating a structured approach to charitable giving

The Van Olst family’s wealth was generated through the sale of a first generation business in the transport sector. The second generation have stewarded the proceeds successfully as financial professionals in the private equity space. They have a strong background in philanthropy.

The Van Olsts’ Goals

• Develop a broader ‘family office’ style relationship, taking a holistic view across all assets, planning and implementing the smooth transfer of wealth to the next generation

• Simplify their investment portfolio and reduce reliance on personal relationships built over many years in the investment business

• Set up a charitable foundation to align their existing philanthropic activities and family values Our recommendations • Our Legal and Philanthropy teams helped the family plan their charitable giving, making suggestions as to giving in a systematic and thoughtful way

• Our Family Office teams in London and Jersey reviewed the Van Olsts’ existing structures and made recommendations to maximise tax efficiency and meet their long-term needs

• Our Investment Management team sourced and evaluated external investment managers, made recommendations on transitioning legacy private equity exposures and sourced alternative investment options Outcomes (to date) • Establishment of four family trusts for which our Family Office team in London and Jersey act as fiduciaries and trustees

• Our Investment Management team now provide oversight as gatekeeper for the family’s investment assets, amounting to c.£60 million, carrying out quarterly manager performance reviews negotiating all fees • An ethically constrained portfolio directly invested in global equities was established for the eldest daughter alongside an incomeoriented mandate to meet UK expenditure requirements • Sophisticated, expert reports are generated for the client from multiple data sources to give a holistic overview of their portfolios - showing both lifestyle assets, including art and property and their investments against benchmarks

• Stonehage Fleming Law worked with the client to set up a charitable foundation for lifetime funding and to receive 10% of their wealth at death