The Family Office Company is first Gulf wealth manager to achieve ISO 9001 quality assurance rating

March 29, 2010 - PRLog -- The Family Office Company (“TFO”) has become the first wealth manager in the Gulf region to earn the internationally-acclaimed ISO 9001 Quality Assurance rating for all components of its business. The news comes as more and more wealthy Gulf investors demand only the highest levels of quality and transparency from their financial service providers.

“The certification demonstrates our commitment to a dedicated, systematic and quantifiable approach to quality-of-service standards through a rigorous auditing process,” said TFO founder and CEO Abdulmohsin Al Omran. “Achieving ISO 9001 is an important validation of The Family Office’s systems, people and processes and confirms our deep commitment to delivering service to our client families at the highest possible levels,” he said.

“We wanted to have our management systems and operations independently scrutinised and measured against an international benchmark – and we’re delighted to have achieved the ISO certification,” said Omar Shafi, of TFO’s senior management team. “We have a longstanding dedication to our customers and terrific pride in what we do. Clients are rightly becoming more and more discerning about who they deal with and the ISO certification gives them independent verification about our professionalism and robustness.”

“We are based in the Gulf, to be close to our clients. But we always work to global standards. The Family Office is already regulated by the Central Bank of Bahrain and the Financial Services Authority in London. The ISO 9001 certification provides our customers with an important added layer of assurance that up to now has been unseen in Gulf-based investment firms,” added Mr Shafi.

The Family Office Company is a multi-family office and wealth manager that serves distinguished merchant families and prominent wealthy individuals in the Gulf. These clients are ultra high net worth, multi-generational families with a unique set of needs. The firm was established in 2004 and provides portfolio consolidation, asset allocation, wealth management and access to exclusive international investment opportunities that are hard to come by in the region. Over the past six years, TFO has steadily built its brand on trust, confidence and exceptional client service. The firm has fuelled its growth through innovative solutions, services and investments, focusing on adding value to its clients.

The ISO 9001 Certification audit was conducted by renowned British firm Lloyd’s Register Quality Assurance (LRQA), which independently assessed TFO during visits to the firm’s Bahrain and London offices over a period of several months. It encompassed the broad range of the firm’s activities, from IT to fund administration, investment and client services. “We chose Lloyds Register to carry out the assessment because they are the gold standard in this field,” said Mr Shafi. “Lloyds have 250 years of history and reputation in the City of London. When it comes to risk assessment, they have huge independence and experience.”

ISO 9001 standards are globally recognised and are set by the International Organization for Standardization (ISO), a Geneva-based worldwide federation of national standard bodies.

To achieve certification, TFO had to demonstrate they have a quality management system in place all the way through the organisation, ensuring quality, consistency and constant improvement. “The whole point is to achieve high levels of performance and customer satisfaction. Certification is not a one-off event – we are committed to continuous development and will be reassessed every 6 months. We are determined that only the very highest standards will be maintained,” said Mr Shafi.

“In a time when, more than ever before, investors need confidence in their wealth manager, quality assurance certification is vital,” said Mike Richards, of Lloyds Register.

“The Family Office Company has shown its commitment to quality and customer service by achieving certification,” said Mr Richards. “The firm complies with the high standard of service and processes that this internationally-recognised certification ensures. More wealth management firms in the Gulf would benefit from following TFO’s business example, and committing themselves to the high standard their customers deserve.”

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