While the Family Office should always be responsible for respecting the confidentiality of private information, there is twice the most important: at the beginning of the job and at the end of the employment. High Net Worth Individuals (HNWIs) are highly sensitive to secrecy for a number of legitimate reasons, and the creation of a single family office (SFO) or multi-Family Office (MFO) gives them confidence and certainty that their information and data will be treated confidentially. One of the reasons for creating such guarantees at the beginning of employment is that the end of employment can be much more emotional, especially if the Family Office terminates the worker. If the Family Office has not laid the groundwork to ensure that the information remains confidential, it may be difficult to prevent the outgoing employee from adopting a “scorched earth” approach to the family`s confidential information. Nevertheless, there are steps you can take to minimize the risk. As we go through a system transfer, any of the above points could lay bare the financial soul of the Family Office. During this journey, we must understand the seriousness of this subject. We were not just given a commitment to a successful end. We have been tasked with a project in which financial details are part of the transition process. We are committed to respecting and protecting the privacy and confidentiality of our customers` personal data.
We want you to know why we use your personal data, how we use your personal data to establish and maintain your relationship with us, how we treat your personal data confidentially and how you can inquire about the personal data we hold about you. With a wide range of services for private clients and Family Offices, we offer solutions to meet your specific needs or the specific needs of your customers. To learn more about our retail and wealth management services, click here or contact Richard via his profile below. With a variety of companies that are called the Family Office, Executive Dir… At Northwood, personal data is protected by appropriate security measures for sensitivity to unauthorized access, disclosure, reproduction, use or modification. Security measures include physical protection (for example. B closed cabinets and restricted access to offices), organizational measures (e.g. B safety distances) and technological measures (e.g., words. B pass and encryption).