This was an excellent article I read in FamilyCapital that was written by Dennis Jaffee and James Grubman on July 11th 2018 Developmental Stages of a Single Family Office The relationship between an ultra-high net worth family and its single family office is a complex partnership that must survive many phases, transitions, and challenges. One way to understand family offices is to observe their evolution across generations as they connect disparate family members and manage complex investments. Here are four of the most common challenges to be faced: Formation of the Family Office Family offices commonly originate when the first-generation (G1) wealth founder develops a sufficiently prosperous enterprise that the family’s wealth either outgrows their legacy advisors or there is a liquidity event (often, the sale of all or part of the legacy family business). The family then decides it needs professional services offering privacy, convenience, and integration.
This Blog was established for Family Offices with the intention of providing up to date information on real estate structuring, real estate markets, the importance of real estate in a portfolio, and insights for family offices and family office professionals. - DJ Van Keuren