Sounds wonderful, but what does it mean? It is a serious promise to any person or family wanting a well-organised life without any worries about legal issues affecting life for him, his family and his business now and in future. NMW helps to develop a stable platform enabling family-members and their assets to be well placed and protected for generations to come.
As family governance counsellor NMW wants to fill the gap between families, family offices and professionals such as law firms, accountants and financial advisers. They all play important roles. Some work like the setup of family rules, known sometimes as Family Constitution, the lending of an independent, experienced, sympathetic ear, and guiding and mentoring family members requires a different kind of approach and professional.
We are a family governance counsellor. We help entire families, their individual members and their advisers wherever they live, to bring about a dynastic plan and a set of rules that each and every one agrees with and is committed to. For families to be successful they must have peace amongst them as well as common goals and fun. And if a problem comes up, then we are there as trusted friend to solve it fair and square.
Our most important function is to discuss and formulate together with a family ground rules that they all understand, accept and live by. Many families have big issues because there is no clear joint understanding and agreement governing them and their common assets and objectives.
By becoming a long term friend of the family and understanding the individual needs and objectives, wishes and worries we make sure that families, their businesses, charities and assets lead a long happy life with No More Worries.
How we work and our fees
Every client has different wishes. Accordingly, all our agreements are tailor made. NMW informs the client in detail about the type of work it does, the degree of our involvement and the frequency of updates. The client can opt for a number of fee structures, like a per diem fee, a fixed fee, or a quarterly retainer fee. Chemistry between advisor and client is essential, so NMW waives its fee for an initial period, if parties cannot work together in a satisfactory way.
Once a relationship is established, a retainer arrangement may be an ideal solution as this enables a strong long-term bond between the client and his dedicated advisor, who becomes part of his client’s business. The client can call on the experience of his trusted advisor, at any time, which permits him to have access to immediate support and advice at a very reasonable cost. NMW can also carry out a specific project, at a daily rate, or for a flat fee. Brief telephone calls are part of our service and are not being charged.
NMW’s goal is that clients save money and that they have more time or can relax instead of worrying.
Is NMW right for you?
Anyone can be a NMW client, because our charges are modest. Our clients, however, are merely executives of multinational companies (often family-owned). Most of the time they do not have an in-house legal counsel and are rarely trained nor do they have in interest in tax of legal matters and are therefore confronted every day with a wide variety of tax or legal matters. In an ideal world, these issues would only take up a small part of their daily work. In practice, however, they spend too much time on these matters.
Many executives and heads of families discover legal and tax hurdles early enough, but they find it difficult to deal with them, to oversee, to coordinate tax and/or legal work, to identify and to instruct the best possible advisors. An external adviser anticipates and prevents issues to deteriorate to significant problems. Identifying a problem too late can have serious consequences which cause unnecessary worries and sleepless nights. Also these worries prevent executives from doing the work they are good at and that they enjoy. Hiring a full-time advisor may be the preferred solution, but is often too complicated and too expensive.
What can we offer you
The simple solution to problems
NMW offers effective solutions. We act efficiently, economically and practically to relieve the head of a family, or the executives of a company, of their problems with the help of a professional with more than 25 years’ experience in the tax and legal world. As our clients can contact their “personal advisor” round-the-clock, they don’t have to worry about discovering risks or opportunities too late. Any worries of the client are addressed during bi-weekly or monthly meetings. The NMW advisor uses these moments to identify opportunities and risks and to anticipate internal and external developments. The meetings will generally take place at the client’s office or another location of his choice.
The 5 C’s: Confidence, Chemistry and Commitment + Client and Counsellor
Mutual Confidence and Chemistry are essential to a good working relationship and it is therefore recommended to establish a long-term Commitment between the Client and his advisor, or personal Counsellor, to forge a trustworthy relationship in which the Client feels safe and secure and know that he can totally rely on his Counsellor. Once a relationship has been established, the advisor will deal with the client’s tax and legal issues as if they were his own. His role is fully determined by the client’s needs and wishes. The clients’ total tax and legal costs will be reduced, because NMW advisors have the know how to handle tax and legal issues as efficient and effective, as possible. NMW is familiar with all possible fee systems and is able to negotiate attractive arrangements.
Distance is no issue
NMW is currently based in Holland, but the location and nationality of our clients are never an issue, since all NMW advisors have lived and worked all over the world and have been working for people of every nationality.
NMW has relevant know how and is familiar with tax and legal issues. NMW focuses on long-term strategic tax planning through identifying the right legal framework. Our ability to take care of (international) tax and legal affairs of families is second to none. We make sure that companies and assets are structured as efficient and as simple as possible. The structure we offer are tailored to the client’s wishes and plans for the future generations. Training the next generations in relevant tax and legal matters can be a great help and we see it as part of our job.
NMW advisors take the time to listen to whatever may be on the client’s mind. The counsellor knows if an external advisor needs to be brought in and identifies the right person to sort the issue. Because of his long experience, the advisor also knows what information and material an external advisor needs in order to formulate the questions to be answered as efficiently as possible. Although we know the best people to advise on a specific matter, we see it as part of our job to supervise the external advisors. Once the advice has been obtained, we discuss the way forward with the client and make sure that everything is taken care of. NMW operates differently from law firms, private banks, family offices and trust companies. We do not give financial or investment advice, nor do we give detailed tax and legal advice. This is, if needed, being obtained from an external lawyer or tax advisor. For our other work supporting families and companies, we cooperate with private banks, single or multi-family offices and trust companies. In some cases an advisor may accept a formal role for a client or one of his entities, if the client has a strong preference for him to do so and it fits within the context of the overall client-advisor relationship and particularly if it helps build up the 5 C’s that we regard as key to a good relationship.