The Art of Managing a Family Office

With the birth of a son to the Duke and Duchess of Cambridge, “The Firm” as the British Royal family is sometimes known can rejoice that there are now three generations in direct line to the throne.  Of course, not every family firm is as famous as the British Royal family but as with many family concerns which are run with successive generations in mind, securing the wealth and prosperity and future of the family are prime considerations.

But managing the family office is not just about wealth management and wealth preservation.  To succeed, family offices need to draw together complex family structures, develop mission and value plans and ensure that succession planning is in the best interests of the family as a whole. These parameters apply whether managing estates, businesses or family wealth.

Those managing family offices need to be able to work within the wider context of business drivers and imperatives whilst keeping family values close to heart.  In fact the Family Wealth Alliance’s inaugural security study into the family office concluded that “Sustainability, data loss, fraud and theft are among the top non-investment risks faced by private families and the offices that serve them.”

If you want to learn more about the latest trends in Family Office and wealth management you can attend a Eureka Financial course on Family Office.

Eureka Financial offers over 100 public and in-house training courses in banking and finance, corporate finance and M&A, risk management, operations, investments, wealth management, soft skills and management. For more details visit: www.eurekafinancial.com

 

One thought on “The Art of Managing a Family Office

  1. Very interesting and relevant article about the complexity of managing a family office and wealth.

    May I add that to efficiently manage family office’s needs “to draw together complex family structures, develop mission and value plans and ensure that succession planning” , it is critical for them to choose the right centralised management solution.

    To assist IAMs and family offices in their purchasing process, KeeSystem® published a white paper about “Portfolio Management Software: a key governance tool”. The second chapter offers a crystal-clear analysis of the different types of portfolio management solutions available on the market that might interest you. This in-depths and practical guide is based on our experience working with family offices.

    Feel free to ask for a copy http://www.keesystem.com/en/non-classe-en/getting-the-right-/

    Best Regards,
    Pierre-Alexandre Rousselot

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