Families with significant resources are increasingly turning to formalized family offices to creatively deploy and manage their capital. As leaders of family-owned businesses look to unlock generational wealth stemming from a liquidity event, they might wonder whether a family office is the right next step—and if so, how such an office might work in practice.
The following article outlines four key considerations for anyone thinking about a family office, including:
- Embrace your complexity
- Identify your purpose
- Understand the critical capabilities
- Select the optimal structure