Why we see a need for this structure
For the most part, family offices are designed to serve single or multiple families. Although the sizes and structures vary, the basic tasks are the same: to relieve the burden of administration, provide prudent investment advice and help your family fulfill its legacy.
Families, however, are dynamic and expanding entities with dynamic and expanding needs—while family offices are essentially finite businesses that must cover their expenses. As a result many family offices are understaffed and have trouble recruiting top-line management talent—while others seek additional income by charging finder's fees and selling investment advice—in direct conflict with their advisory role.
Many family offices are focused on serving the founder, and as he or she ages, the staff also ages and loses touch with succeeding generations. Often family offices and multifamily offices have neither the structure nor the experience to maintain the family wealth management over generations.
Problems also exist in the corporate wealth management setting, where the primary focus is on bringing institutional opportunities to wealthy clients. All too frequently the internal decisions of the corporate parent conflict with the governance of these offerings.
Providing a conflict-free environment
Whether you meet with us for the purposes of investment management or governing entity expertise, our position with you is as your advocate—whatever your situation: |
