Knight Frank's Private Office: A model of discretion
A long-term view, a single trusted point of contact and an unparalleled understanding of global markets set Knight Frank’s Private Office apart
We occupy a privileged position with our clients. We’re on hand at all times, we know their family very well, and truly understand their needs. The one thing all clients require without exception is total discretion
It’s no great secret that finding a source of trustworthy advice is easier said than done in this world – especially when it comes to making sound investments. From curating a diversified portfolio to sourcing a rare vintage watch, half the art of making the right decisions is in finding those advisors with whom you can develop a long-term relationship.
The other half is consistency, says Rory Penn, Head of London Residential Sales at Knight Frank. “Our ultra-wealthy clients don’t want to deal with numerous estate agents around the world, or multiple points of contact. They need a joined-up service, just as they would get from their private bank.
“And that’s why Knight Frank, which has more than 16,000 staff across 53 territories, set up the Private Office in 2018, to advise clients on the sale and purchase of their personal properties as well as on investments in residential or commercial property.
“It’s a very personal service that enables a client to move across the different parts of our business – and the breadth of services that Knight Frank provides – in a seamless fashion,” confirms Paddy Dring, the Joint Global Head of the Private Office and a veteran, with 33 years’ experience of advising ultra-high-net-worth clients.
The post-pandemic focus on real estate has been striking. We have focused ever since on helping clients to invest in lifestyle properties – whether chalets in the Alps, or villas in the south of France; anything to help clients obtain a more flexible work-life balance
Typically, the Private Office will begin by supporting a client’s acquisition or sale, and through this first transaction, Dring explains, a relationship is created and trust established – often lasting decades.
With an initial transaction undertaken, the Office can start to build up a detailed picture of the client’s assets and objectives; advising on their wider real estate portfolio, and blending residential and commercial properties for them across multiple markets.
Working alongside Dring at the Private Office’s London HQ is Sarah May-Brown, a Partner who also has a breadth of international experience. Combining Knight Frank’s global markets insight and extensive database of ultra-high-net-worth individuals, May-Brown’s Private Wealth Intelligence team are an integral part of the property journey of all Private Office clients.
In practice her team’s work ranges from sourcing appropriate buyers for the private sale of an island in the Caribbean, to a portfolio of 1.6 million hectares of land in Australia, or consulting Middle Eastern royalty on all aspects of their global property needs.
Despite their involvement in such remarkable undertakings, she notes that transactions handled by the Private Office are rarely reported in the press and discretion is key. “What makes the relationship different, ultimately, is trust,” she says. “It’s also a mentality and a tailored approach. Clients value working with lateral thinkers who put their long-term interests front and centre.”
Our role is to be that single point of contact across the whole of Knight Frank. Working with the client on their portfolio, we’re the conduit to different experts around the world; it’s about access to opportunities and advice
And clients notice: one describes the single point of contact arrangement as a “game-changer for those short of time and untrusting of too many advisors”. (The client also praises their advisor for taking a 14-hour plane ride at short notice to evaluate a property in the US for them.) Another client lauds the team for “opening up once-in-a-generation opportunities.”
For Dring, it’s a privilege to work so closely with the Private Office’s clients – many of whom are trailblazing in their respective industries or endeavours. “It’s a vote of confidence that we have the platform to deliver the correct advice,” he says. “At the end of the day, our clients want to get the best holistic result, which is not just price – there are many layers and considerations to transacting in the property world.”
Knight Frank’s 100-strong research team adds another string to the Office’s bow – quarterly updates on global property markets, both residential and commercial. “We send research to clients on a continual basis, which gives them a snapshot of how their market is performing in the context of other international markets,” says Dring.
For Penn, who established the Private Office, this underlines why it was set up in the first place. “Private clients want access to the best opportunities there are: chalets in Verbier, apartments in New York and logistic warehouses in Germany – it’s about providing highly specialised advice, and the same level of service that an institutional client would expect, no matter the time or place.”
Alec Marsh is a freelance journalist and author. He writes on wealth and finance, and contributes to The Spectator and Spear’s magazine
