Family Office Services, From $5 Million

What a curated investor policy statement does

An investment policy statement is the family's written constitution for its capital: the objectives, the time horizons, the asset-class ranges, the liquidity the family needs to keep available, the constraints it wants to impose, and who is allowed to decide what. It is drafted with your advisor and it belongs to you.

Its value is mostly visible in bad weather. When markets fall 25% and one family member wants to sell everything while another wants to buy the dip, an argument about temperament becomes a reference to a document the family already agreed. It is also the mechanism that makes the portfolio auditable — you can check what was done against what was written, rather than against a memory of a conversation.

Multi-entity structuring, and what that means precisely

Families at this level rarely hold everything in one name. There is usually a personal account, a company, sometimes a holding structure, sometimes accounts belonging to the next generation. Each gets its own statements, its own currency mix and its own reporting cycle, and nobody sees the whole picture.

Vault works across those entities as one mandate: a consolidated view of the total position, an allocation designed at family level rather than account by account, and reporting that reconciles both ways — per entity and in aggregate. Assets held elsewhere can be aggregated into the same view even where Vault does not advise on them.

To be exact about scope: this is investment advice and arranging, delivered across multiple accounts. Vault is not a trustee, a corporate service provider, a law firm or an accountancy practice, and we do not draft trust deeds or file tax returns. Where a structure needs those, we work alongside the specialists you appoint — and we will tell you when a question belongs to them rather than to us.

What it costs at this level

The schedule is marginal, so the rate keeps falling as the balance grows, and the band above USD 20 million carries no management fee at all on public-market investments. Nothing about that is a promotional rate — it is the published schedule on the fees page and the same slider any prospective client can run.

Two clarifications so the number is not read as more than it is. The management fee applies to public-market investments; private-market allocations carry the fund manager's own schedule plus Vault's subscription fee, disclosed line by line before you commit. And the underlying ETFs and funds have their own expense ratios — typically 0.05%–0.20% on the core — which we disclose in full and do not receive any part of.

What is not there matters as much: no entry fee, no exit fee, no performance fee, no custody charge, no dealing commissions on the core, and no commission or retrocession from any product provider. A conventional private-bank mandate at this size typically layers several of those on top of its headline rate.

Governance, custody and continuity

Assets are held at Interactive Brokers in the relevant entity's own name, segregated from Vault's balance sheet. Vault is authorised to advise and to arrange dealing, not to hold client capital, and is regulated by the Financial Services Regulatory Authority in ADGM.

For a family, the useful consequence is continuity. The policy statement is a document you own, the accounts are in your names at a global custodian, and the aggregated reporting is exportable. If the family changes advisors, changes generation or changes mind, the capital does not have to move for the relationship to.

Everything from Priority and Private carries up — the dedicated senior advisor, private-market access, multi-goal planning, live reporting and custom portfolios are all included, not alternatives.