TRUNCUS

What TRUNCUS does

Truncus is a Belgian multi-family office and FSMA-licensed wealth manager headquartered in Zele, East Flanders, founded in 2001 (originally as VGD Family Office, rebranded to Truncus Wealth in 2013). The firm serves approximately 100 ultra-high-net-worth families (minimum €10M investable assets) through its family office division and approximately 400 wealthy families and entrepreneurs (minimum €1M investable assets) through its wealth management division, with services delivered by a team of roughly 30 professionals including family officers, wealth managers, fund managers, estate planners and compliance staff.

The product platform spans integrated wealth advisory and a proprietary fund suite: the Truncus Best Selection Fund (multi-asset, 2018), Truncus SRI World Value Creation DBI Fund (2020), Truncus SRI World Income Equity DBI Fund (2024), Truncus Global Bond Fund (2023), a Private Debt Fund (2023) and a Private Equity fund-of-funds (2021). Underlying technology includes the Truncus Insights client portal (insights.truncus.eu), the Truncus Digitale Kluis (a VLAIO-supported cyber-secure digital vault launched in 2021), and a 'Best of Class' fund selection methodology that monitors ~250 external investment portfolios across 15 countries and 40 partner organizations. Supporting services include estate planning, post-business-sale guidance and a published book ('10 Gouden Regels') used for thought leadership.

The business model is asset-based: Truncus charges a fixed percentage of AUM ('forfaitair percentage van het vermogen') on managed portfolios, retains on proprietary funds, and bills family office services via AUM-linked or holistic retainer fees. Distribution is direct and relationship-led, sourced through referrals from Belgian accountants, notaries and legal advisors, the firm's own website ('Maak een afspraak'), earned media in De Tijd, Trends, Bloovi and other Belgian financial press, and event-based engagement. The 2025 merger with Investor AM consolidated approximately €610M in AUM under the Truncus umbrella, with a stated ambition to reach €1B, positioning the firm as the largest multi-family office in Belgium by its own claim.

Name

TRUNCUS

Legal name

Truncus Wealth NV

Website

https://truncus.eu

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Truncus is a Belgian FSMA-licensed multi-family office and wealth manager serving ~100 UHNW families (€10M+) and ~400 wealthy families and entrepreneurs (€1M+) with proprietary funds, estate planning and post-business-sale guidance, operating on an AUM-based fee model with ~€610M in combined AUM post-2025 merger.

Ownership category

akta.pro rank

Product category

Wealth Management and Multi-Family Office

NAICS

Portfolio Management and Investment Advice (523940), Trust, Fiduciary, and Custody Activities (523991)

SIC

Investment Advice (6282)

akta.pro primary industry

Family Office Trust & Fiduciary Services (FSAEAKAF)

akta.pro secondary industries

Trust, Fiduciary & Estate Planning Services (FSABADAG), Fiduciary Agency & Trustee-for-Hire Services (FSAAANAL)

Keywords

• Wealth management services
• Multi-family office
• Investment fund management
• Estate planning services
• Private equity funds

Headquarters

HQ city

Zele

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Assets Under Management (AUM) Fees: Truncus charges a fee based on a fixed percentage of the assets under management (forfaitair percentage van het vermogen). This is their primary revenue stream, typical for Belgian wealth managers and multi-family offices.
2. Family Office Service Fees: Family office services are billed, with clients receiving regular transparent reporting. Services cover financial, fiscal, legal, familial, and administrative advisory — billed as a holistic retainer or AUM-based fee.
3. Proprietary Investment Fund Management: Truncus manages and distributes proprietary investment funds (Truncus Best Selection Fund, equity funds, bond fund, private equity fund-of-funds, private debt fund). Revenue is generated through fund management fees charged to fund investors.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Truncus is an independent Belgian multi-family office and wealth management firm offering integrated financial, fiscal, legal, familial, and administrative services for wealthy families and entrepreneurs. It manages discretionary client portfolios through proprietary investment funds (multi-asset, equity, bond, private equity, and private debt) and provides holistic family office advisory for ultra-high-net-worth clients, complemented by estate planning and post-business-sale guidance.

Product overview

Truncus is a Belgian multi-family office and wealth management firm offering an integrated platform combining family office services and investment management. The core offering includes Truncus Vermogensbeheer (wealth management for clients with €1M+ minimum) and Truncus Family Office (comprehensive services for clients with €10M+ minimum). Their proprietary fund range under the Truncus Investment Fund umbrella includes the Truncus Best Selection Fund (multi-asset, 2018), Truncus Aandelenfonds DBI (SRI World Value Creation, 2020), Truncus Global Bond Fund (2023), Truncus Aandelenfonds dividenden DBI (SRI World Income Equity, 2024), and Private Debt Fund (2023). Additional services include Private Equity access, Estate Planning, Post-Business Sale Guidance, and the Truncus Digitale Kluis (digital vault, 2021). The company was founded in 2001 as VGD Family Office and obtained its FSMA wealth management license in 2014.

Differentiator

Problem solved

Functional benefit

Products and services

• Truncus Vermogensbeheer (Wealth Management) Independent discretionary wealth management service that manages, grows, and monitors client assets, targeting wealthy families, entrepreneurs, and institutional organizations with a minimum of EUR 1 million in investable assets.
• Truncus Family Office Comprehensive family office service covering all aspects of client patrimony: financial, fiscal, legal, familial, and administrative dimensions, targeting ultra-high-net-worth families with a minimum of EUR 10 million in investable assets.
• Truncus Best Selection Fund (Patrimoniaal Fonds) Multi-asset diversified fund launched in 2018, applying Truncus's Best of Class fund selection methodology analyzing 250 external portfolios across 15 countries to identify top-performing funds.
• Truncus SRI World Value Creation DBI Fund (Aandelenfonds DBI) Equity fund launched in 2020 focusing on Socially Responsible Investment (SRI) and sustainable value creation globally, structured under Belgian DBI tax framework.
• Truncus Global Bond Fund (Obligatiefonds) Global fixed income bond fund launched in 2023 offering diversified exposure to international bond markets.
• Truncus SRI World Income Equity DBI Fund (Aandelenfonds Dividenden) Dividend-focused equity fund launched in 2024 within Truncus's SRI range, structured under the Belgian DBI tax framework.
• Truncus Private Debt Fund Private debt investment fund launched in 2023 providing clients with exposure to private lending markets.
• Truncus Private Equity Private equity investment service launched in 2021 providing access to carefully selected private equity funds via a fund-of-funds vehicle, with a minimum investment of EUR 250,000 and a 12-year investment horizon.
• Begeleiding na Bedrijfsverkoop (Post-Business Sale Guidance) Comprehensive guidance service for entrepreneurs transitioning from business ownership to wealth management, including inventory, legal and tax analysis, and strategic planning after a business sale.
• Estate Planning Estate planning service covering wealth transfer, succession planning, and fiscal optimization for families, led by a dedicated head of estate planning.
• Truncus Digitale Kluis (Digital Vault) Cyber-secure digital document vault developed with VLAIO support, enabling clients to securely store, review, and share confidential documents with their advisors with maximum privacy and transparent sharing.

Quantifiable outcome

• Truncus has served clients for 20+ years with a stated goal of making every client a client for the next 20 years, aiming to serve the next generation as well.
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Investor AMcoreStrategic or Co-development Partner · 1 June 2025In June 2025, Truncus and Investor AM announced a full merger (fusie). Investor AM, led by Bruno Toye and Jan Vantomme with nearly 18 years of experience managing the Investor funds, brought approximately €160 million in AUM to Truncus's existing ~€450 million. The combined entity targets €1 billion in assets under management. Bruno Toye joined Truncus as Managing Partner and Wealth Manager, and Jan Vantomme joined as Fund Manager. This is the most significant strategic partnership/merger for Truncus, representing a major consolidation in the Belgian wealth management market.
• WinWinnerminorGTM or Marketing Partner · 1 July 2023WinWinner, a Belgian crowdfunding platform, partnered with Truncus for the launch of a €30 million investment fund. Truncus served as investment advisor and distributor for the WinWinner fund, as covered in De Tijd and Trends.
• Power Pacific / Chinese A-Shares FundminorChannel Partner/ Reseller/ Distributor · 1 January 2021Truncus obtained exclusive distribution rights for the entire Benelux for a major Chinese A-Shares fund managed by Power Pacific. This was described as an exclusive Belgian access to one of the largest funds on the Chinese market, with Truncus distributing the fund to its wealthy client base.

Scale indicators6 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Puilaetco Dewaay Private Bankers: Belgian private bank serving HNW families and entrepreneurs, explicitly mentioned in Truncus team biographies as a former employer of multiple senior advisors. Directly comparable in customer base (Belgian HNW/UHNW), service offering (discretionary management + estate planning), and regulatory framework (FSMA licensed).
• Delen Private Bank: One of Belgium's largest private banks and a leading multi-family office for entrepreneurs, with a long-standing reputation in discretionary wealth management. Direct competitor for the same Belgian UHNW family segment and offers comparable integrated wealth and estate planning services.
• Bank J. Van Breda & Co: Belgian private bank exclusively focused on entrepreneurs, business owners, and liberal professionals—a nearly identical target customer profile to Truncus's family office segment. Offers integrated wealth management, succession planning, and financing solutions comparable to Truncus's service suite.
• Meespaterson: Belgian wealth manager with a long history serving affluent families and entrepreneurs across Flanders and Brussels. Comparable to Truncus in scale, target segment (HNW family wealth management), and service scope including estate planning and discretionary portfolio management.
• Nagelmackers: Belgium's oldest private bank (established 1747), offering wealth management, estate planning, and family office services to affluent Belgian families. Competes directly with Truncus for the same HNW/UHNW family segment in the Belgian market.

Broad incumbents

• KBC Private Banking: One of Belgium's largest banks with a substantial private banking division serving HNW clients. While broader than Truncus (offering credit, mortgage, and corporate banking), it competes for the same discretionary wealth management mandates from Belgian families and entrepreneurs.
• ING Private Banking Belgium: Belgian arm of ING's global private banking franchise, serving affluent Belgian clients with integrated wealth advisory. A former employer of Truncus's CEO and a competitor for HNW mandates, though operating at far greater scale and with broader product capabilities.
• ABN AMRO Private Banking (Belgium): Belgian private banking operations of Dutch bank ABN AMRO, serving HNW individuals with discretionary management and advisory services. A former employer of Truncus's CEO and a competitor for cross-border Belgian-Dutch HNW family relationships.
• Deutsche Bank Wealth Management Belgium: Belgian operations of Deutsche Bank's global wealth management division, serving UHNW families with integrated investment, lending, and estate planning services. Competes for the upper-tier family office segment that Truncus targets at its €10M threshold.
• Edmond de Rothschild Private Wealth (Belgium): Swiss-origin private bank with Belgian operations serving HNW/UHNW families through discretionary management, advisory, and estate planning services. A former employer of Truncus's Head of Estate Planning and a direct competitor for sophisticated Belgian family wealth mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/truncus
• YouTubeyoutube.com/channel/UC_89DG9dW-RWk8I1yznZgEg

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TRUNCUS