The strategic consultancy firm Yours—Business & Family Advisory celebrated its tenth anniversary this week, on 9 March, in Luxembourg, with an evening event held at its new offices in the heart of Merl. The premises welcomed nearly 80 guests—clients, strategic partners, staff and prominent figures from Luxembourg’s economic and financial sectors—for a cocktail reception featuring a buffet prepared by chef Julien Cliquet.
The event marked ten years of growth for the firm, which was founded in 2016 by Jean-Louis Waucquez, the firm’s managing partner. Surrounded by his team, he highlighted Yours’s strong roots in Luxembourg and outlined the firm’s growth prospects, notably the forthcoming opening of a branch in Monaco in April and the strengthening of its presence in the Luxembourg market.
The firm claims to take a distinctive approach to wealth management, focusing on providing strategic support to families and shareholders rather than on asset management. “Yours is not a family office, and we have no intention of becoming one. We are purely an advisory firm,” explains Jean-Louis Waucquez in a telephone interview ahead of the event. “We focus exclusively on the added value we are able to generate for our clients, and we are remunerated solely by them, to the exclusion of any other form of remuneration.”
Luxembourg, a natural choice
The firm’s founder highlights a career forged in the banking sector. “I have a background in law, economics and taxation, and my career has been primarily in banking. I worked for 22 years at the Degroof Group, first in Luxembourg for 15 years, then in Belgium and France, focusing on activities related to estate planning and wealth structuring.” After leaving the bank in 2016, he decided to set up his own firm. “Very soon after leaving the bank, clients who had entrusted me with their wealth management matters asked me to continue supporting them through my own firm.”
The choice of Luxembourg was a natural one. “The holding companies of the family-owned groups we advise were based in Luxembourg, and the issues were international from the outset. The aim was therefore to handle these matters from Luxembourg.” Since its inception, Yours has grown to have an operational presence in Luxembourg and Brussels and a team of “a good dozen people”, whilst working on cases involving numerous jurisdictions across the globe.
The firm focuses its activities on three main types of service. “The first involves organising private or business assets to optimise cash flow,” explains Jean-Louis Waucquez, citing in particular the establishment of holding companies, trusts in Anglo-Saxon jurisdictions, and the use of life insurance policies. The second concerns the transfer of assets, whether this takes place in advance or following a death. The third involves supporting liquidity events, such as the sale of a business or significant assets. “Our aim is to structure the sale and reinvestment under the best possible conditions to minimise losses and achieve the objectives set by our clients.”
Between network and agility
According to its founder, what sets Yours apart rests on two key elements: its network and its agility. “We don’t claim to know every tax system in the world. But the firm’s great strength lies in the quality of its network,” he explains. “Yours’s key staff members have over a hundred years’ combined experience in handling complex cases and work with trusted partners across numerous jurisdictions.” This structure enables the firm to act as a “coordinator” in structuring transactions. “We bring in high-calibre partners whom we know personally and with whom we have already built a relationship of trust.”
In an increasingly complex regulatory environment, the firm also positions itself as a strategic partner for international families. “It is now relatively straightforward to move funds from one country to another. However, the legal and regulatory environment has become much more complex. Our role is to make our clients aware of this reality in order to preserve their investment flexibility and the coherence of their wealth structures.”
Jean-Louis Waucquez has also observed a shift in how younger generations view their wealth. “Younger generations are very well-informed and much more keen to understand how their wealth is managed. They want to know what they are investing in, what the fees are, and what the manager’s strategy is.” He also notes a shift in attitudes towards taxation. “I sometimes hear our clients’ children say: we don’t want to pay the minimum tax, we want to pay a fair tax. This is an interesting development in the way people approach wealth management.”
In Luxembourg, the firm has also observed a gradual shift in family issues, driven in particular by the increasing internationalisation of wealth and life paths. “For a long time, the way in which Luxembourgish families managed their wealth was very local. Today, their children live abroad and their assets are becoming increasingly international. This raises new questions regarding the transfer and management of wealth.”
Increasingly complex issues
For Jean-Louis Waucquez, the role of a firm like Yours remains fundamentally human, despite the rise of technology and artificial intelligence. “Technology is a tool, not an end in itself. It provides access to a vast amount of knowledge, but it will never replace the ability to strike the right balance between individuals and their wealth.” He often sums up this aspect to his colleagues in straightforward terms: “In our line of work, 30% is technical and 70% is psychology. You can be the best technician in the world; if you don’t have the sensitivity needed to understand your clients’ expectations, it won’t work.”
Ten years after setting up the firm, its founder looks back on a track record characterised by client trust and the increasing complexity of the issues handled. “When I look back over the last ten years, what stands out most are the moments spent with our teams and the families we support. My greatest satisfaction comes from having succeeded in bringing about positive change in certain situations.”
As for the future, he faces it with confidence. “The model we have developed clearly meets a need. The challenge isn’t demand, but supply: few players are willing to tackle such complex issues.” A complexity which, in his view, should continue to underpin the firm’s model’s relevance in the years to come. “Complexity isn’t going to disappear overnight, nor is the need for support in managing it.”
