«We are a recognizable and accessible face for our clients. We are not product pushers but focus on concrete goals,» said Stefaan Vanden Berghe, CEO of Truncus.
For several years, Truncus has been featured on Chambers & Partners› list of top wealth managers, a prestigious ranking annually compiled based on the opinions of lawyers and tax consultants. Truncus is the only Belgian firm in this category.
One-stop-shop
«Our mission is to manage, protect, and transfer the wealth of families from generation to generation. We do this through a ‹one-stop-shop› approach,» Vanden Berghe explained. «Our clients can come to us with any questions about their assets.»
Truncus› family office manages 75 client portfolios, making it the largest multi-family office in Belgium. «We have a continuous mandate to monitor and manage their total wealth,» he added.
The firm also has a wealth management department with around 250 clients, offering investment products. «Most families subscribe to both services,» Vanden Berghe said.
Targeting affluent families
The CEO categorizes their wealthy client base into three main groups. «The first group simply doesn’t have the time to professionally manage their wealth because they are active in their own businesses. The second group prefers to outsource this task, and the third group acknowledges they don’t have the necessary education or experience to do it themselves.»
Competitive edge
Many banks and asset managers target high-net-worth individuals (HNWIs), creating fierce competition. How did Truncus secure its place on the Chambers & Partners list as the only Belgian entity? «We focus on clear goals with our clients rather than a product-driven approach,» Vanden Berghe said.
Three inventories serve as the core of their methodology. First, they tally all assets and liabilities for the family in question. «Next, we outline the legal and fiscal framework, mapping out companies, gifts, and so forth. Then we set goals with the families and plan how to achieve them.»
Emphasis on long-term partnership
Vanden Berghe stressed Truncus› role as a long-term partner. «Another reason we made it onto the Chambers & Partners list is our emphasis on continuity. We act as an external hard drive and memory for many families, thoroughly mapping out their wealth. Additionally, we have a very low staff turnover, setting us apart from the banking sector. We offer a recognizable and reachable face to our clients,» Vanden Berghe concluded.
This article originally appeared in Dutch in InvestmentOfficer.be.