A new family office has burst onto the scene in Zug, Switzerland, which has been formed with the intent of offering client families greater transparency on fees.

Generation Three Family Partners has Mike Betesh as managing principal.

In addition to investment and risk management, the new firm will provide advice on philanthropy, art and lifestyle management.

“Our objective is to simplify trading, offer the most efficient market access and eliminate the myriad of third-party fee overlays,” Betesh said in a statement.

As well as its main office in Zug, Generation Three will also have an administrative base in Mayfair, London.