Galapagos Capital has made strategic acquisitions to grow in the competitive world of investments and today operates in investment banking, asset management and wealth management, with over R$ 20 billion under management.

A year ago, she acquired the multi-family office (MFO) Taler, founded by Mari Emmanouilides, and entered a segment that still has much room to grow. For the now partner and head of wealth management at Galapagos, it was an opportunity to put the pieces together to create something more robust.

“I wanted to be in management and not in distribution, but that’s only fully possible by also serving corporate clients, with an investment bank, which I didn’t have. And Galapagos was growing a lot, but without an MFO. So, it was the perfect match,” Emmanouilides told Wealth Point , a NeoFeed program.

Just as Galapagos wanted its multi-family office, many investment advisory firms are seeking that "signature." That's why every day more firms are popping up calling themselves family offices . But, according to Mari Emmanouilides, not everyone actually is.

To be effective, one must go beyond simply managing liquid assets through investments. A family office examines the family's entire wealth using actuarial analysis to determine if the income generated is compatible with the expenses. This ensures the preservation of wealth for future generations.

“Many people think that having several hundred million can guarantee that this wealth won't run out. That's not true. Because if it's a family with high monthly expenses, a house in New York, a house in Paris, a boat, a helicopter, and so on, the monthly bill becomes large, with staff payrolls. Without a new source of income, the millions will disappear,” she says.

Galapagos' MFO serves clients with at least R$20 million. But the wealth management division also has an area for high-net-worth clients, with more than R$300,000, and a retail client area as well. Together, these areas manage more than R$11 billion. The company has nine offices spread across Brazil and is also present in Miami (USA) with a RIA and in Geneva (Switzerland), with approximately 120 employees.

While the vast majority of assets in Brazil are still managed by banks, in the United States, most are held by independent firms. "The independent market has a lot of room to grow. It took longer here because we have high interest rates that empowered the banks," says Emmanouilides.