Publications
Publications
- September 26, 2022
- Harvard Business Review (website)
Is Your Family Office Built for the Future?
By: Josh Baron and Rob Lachenauer
Abstract
Family offices can provide a number of benefits, including privacy, customization, and having your own team to handle a wide range of services, such as guiding family philanthropy, managing shared properties, or even managing household help. Successful principals in hedge funds, private equity, real estate, and tech entrepreneurs, and even family businesses owners selling their firms, have recently created an explosion in the number of family offices. While most single-family offices are set up with good intentions of continuing to keep the family (and its wealth) close, they face some unique built-in tensions that family businesses don’t have that leave them vulnerable in the long-term. This article addresses five key decisions that family offices need to make if they want to set themselves up for long-term success.
Keywords
Citation
Baron, Josh, and Rob Lachenauer. "Is Your Family Office Built for the Future?" Harvard Business Review (website) (September 26, 2022).