The Multi-Family Office (MFO) of Philippe Feller specialises in handling a clientèle of professional sportspeople. The Principality of Monaco offers many benefits for this profile of client.
“The issues that high-level sportspeople have are rather particular. They arrive into the professional arena at around age 20, a carefree age, during which they very quickly earn a lot of money and have to manage colossal sums with the maturity of a person aged 40. It is certainly not easy for these young people,” observes Philippe Feller, Managing Director of PF MFO. Along with his savoir-faire and his network, this MFO, created in 2019, has been able to appeal to this new clientèle. Monaco is, traditionally, the place of choice for champions, such as Borg, Coulthard and Djokovic, to name but a few. They are attracted by the lifestyle, as well as by the tax laws, so tennis players, F1 drivers and cyclists have made Monaco their home for decades. Thanks to Philippe Feller’s expertise and to word-of-mouth, PF MFO has also developed a client base of professional sportspeople and former athletes living outside the Principality. “Some come to me because they wish for better guidance in the monitoring and management of their wealth.”
Importance of investing in the future
Sports people have short careers.
“A professional footballer generally stops playing at around 30 to 35, a golfer at 40 to 45 years old and what most of these professionals earn over a 10-year career, they must invest in order to provide for the needs of their family over the next 40 to 50 years. We are there to guide them and to give them a financial education. We work out their minimum daily needs and we help them to build up their estate. With the help of our network of experts, we guide them through three different ways to invest – a security portfolio, real estate and financing. In terms of moveable assets, we favor life insurance contracts under European law, managed by carefully selected institutions.
The mobility of athletes is a major factor in monitoring their assets. A life insurance contract also makes it possible to ensure the sustainability of the asset situation.”
Bricks and mortar: a fundamental investment
The approach of PF MFO includes, of course, bricks and mortar. The acquisition of several properties in different European countries (Belgium, The Netherlands, Luxembourg and so on) enables a guarantee of recurrent revenue. “Real estate is a reassuring investment. In order to finance these investments, we create a 10-year credit agreement, making the most of banks” current interest rates, which are extremely low.
PF MFO does not look after only the financial affairs of professional sportspeople: like an orchestra conductor, the company coordinates all day-to-day issues, such as the choice of school, moving house and opening bank accounts. Philippe Feller has 30 years” experience in the area of wealth management and he has created a network of experts based in different countries, on whom he can rely. “Our strong point is our independence. This allows us to do our job with no conflict of interest and in all transparency.”
