Owl Private Office (Owl), a new advisory service for families and endowments founded by three industry veterans, has formally commenced operations in Westminster, London.

The venture is founded Adam Wethered, William Drake and Andrew Wimble, who have many years’ experience in the multi-family office and wealth management industry.

The founders in a press statement said they launched the venture as they identified to a need for “a conflict-free advisory service” that could help clients with the “formulation of objectives, strategies and structures that need to be defined and effected” in advance of the appointment of specialist professional advisers and asset managers.

Wethered said: “In our experience there is now a gaping absence in the very high end wealth advisory journey. We will step into this role by providing overarching advice that brings together the appropriate specialists and helps the family and advisory team think through, from a personal and practical perspective, the critical and fundamental issues which span several professional disciplines.”

The new private office aims to offer services which will help wealthy families, trustees and individuals think through their long-term objectives, guide and represent their interests with external professional advisers.

The company will be advising both UK and international families and endowments and will charge on a flat fee basis, unlike asset management firms which base their charges on the size of funds under management or advice.