Family Office
A company stake changes every allocation around it.
Silver and Spare coordinates the decisions created by private wealth that remains tied to operating businesses. The work connects company exposure with liquidity, investment portfolios and future commitments.
Establishing the Position
The Starting Point
An entrepreneur with most of their wealth in a payments company has a different financial position from a family holding hotels or mature software assets. Silver and Spare starts with that distinction.
Company equity is placed alongside liquid investments. Debt and cash requirements are added to the same working record.
Ownership Exposure
Silver and Spare assesses how much of the family’s financial position depends on a single company or sector. Related exposures held through private portfolios are included in the assessment.
Valuation
Private company valuations are treated as working estimates. Assumptions are recorded so that reported wealth is distinguished from available capital.
Liquidity
We identify the cash needed outside operating businesses. Investment commitments are then assessed against that requirement.
Investment Oversight
Private Portfolios
Existing company exposure changes the purpose of each new allocation. A family already linked to financial technology may assess further exposure to the sector differently.
Investment Mandate
Silver and Spare establishes what each part of the portfolio is expected to do. Income requirements and liquidity needs determine the role assigned to each investment.
Manager Assessment
We compare managers against the role assigned to them. Fees, liquidity terms and underlying exposure are examined separately.
Private Investments
Direct opportunities are assessed against existing company stakes. Silver and Spare considers the capital required and the effect of future funding rounds.
Cash and Commitments
Committed capital can create demands several years after an investment is made. We track those obligations against available liquidity.
Company Interests
The Operating Asset
A meaningful company interest affects the family while it is held. Funding requests and distributions can alter the private financial position long before ownership changes.
Further Investment
A request for additional capital is assessed against the family’s total exposure. Silver and Spare also considers the effect on liquidity outside the company.
Distributions
Dividend income can fund private spending or new investments. We account for its reliability before treating it as recurring capital.
Change of Ownership
A partial sale can alter liquidity without ending the family’s involvement. A full transaction creates a different set of investment and reporting requirements.
Reporting
Information For Decisions
Silver and Spare brings company interests and private portfolios into a family-level account. The results show where capital sits and which obligations are approaching.
Exposure
Holdings are grouped by the economic activity beneath them. This can reveal repeated exposure across separate structures.
Performance
Reports distinguish investment return from capital added or withdrawn. Private company assumptions are identified separately.
Liquidity
Available cash is shown against expected requirements. This gives each commitment a financial context.
Commitments
Unfunded investments are recorded alongside their expected timing. The family can see which demands are contractual and which remain discretionary.
Adviser Coordination
Connected Expertise
An investment decision may affect the family’s tax position. A change in estate planning may also influence voting control within a company.
Silver and Spare maintains the family-level record across these assignments. We identify where one adviser’s work requires input from another.
Investment Managers
Silver and Spare monitors each manager within the purpose assigned to the mandate. Results are considered alongside risk and liquidity terms.
Legal and Tax Advisers
External counsel provides advice within its professional remit. We supply the relevant family-level information and coordinate implementation.
Corporate Advisers
Transaction or financing advice can have significant private consequences. Silver and Spare connects that work to the family’s investment position.
Ownership Across Generations
Preparation
Understanding an asset requires more than knowing its reported value. Future shareholders may also need to understand cash generation and ownership obligations.
Silver and Spare can prepare family members for increasing involvement in financial decisions. The programme reflects their experience and expected authority.
Financial Knowledge
Education begins with the assets already owned. Investment concepts are related to situations that the family will encounter in practice.
Ownership Information
Company structures and shareholder rights are explained in accessible terms. Relevant advisers contribute where specialist knowledge is required.
Decision Preparation
Family members can be introduced gradually to reporting and investment discussions. Responsibility increases as knowledge develops.
Bring the company into the room.
Silver and Spare begins with the ownership position and the private capital around it. The resulting mandate reflects the assets involved and the decisions they create.