Looking at our experience guiding family offices over time while blending that with historical data from a variety of other data sources, we learned a lot and continue to keep our finger on the pulse, including questions around when a wealthy family should officially create a “family office” and the benefits of such.
A very common question we get asked that’s very generalized and almost inspirational for those planning their future is: At what point do you create your own family office? And even though that’s a very loaded question there’s a solution to everything: Keep working hard and good things will come.
Equally as important, especially when thinking about your family and existing wealth along with generational opportunities if you play your cards right, this isn’t the time to be a magician but instead go with your intuition which has, based on you reading this now, served your family right.
The core concept of establishing or growing an existing family office is all about family first then finding creative ways to having that legacy live on whether that’s through making smart investments that produce the most favorable risk adjusted returns or continuing to give back through philanthropic ventures.