Family Office Development and Planning

Leadership Succession, Inter-Generational Planning

Family offices are unique entities that can engage in a wide variety of activities to manage a family’s complex financial environment. Over the long run, effective collaboration between the family and the family office executive(s) is key to the success of a family office. In our work with families and their family offices, we:

• Guide the development of a family vision and goals for new and existing family offices in order to provide a roadmap for success. This would include defining what services are needed by which family members.

• Assist with setting up a new family office or with the transition of an existing CEO, including defining the criteria and job description for the new CEO and establishing a board to oversee the family office strategy.

• Prepare for the inevitable evolution of the family’s needs by working through a family office strategic planning process. This includes human resource development and planning for the family office, as well as engagement of younger generations of family members.

• Establish and/or enhance processes for communication, feedback, and benchmarking. These processes create important opportunities for the family and family office executives to learn more about family needs and to grow from the experiences of their peers.