Establishing a Family Office

At  a recent speaking engagement I discussed factors to consider in setting up a family office. Of primary importance  is having a clear view of the purpose, vision and values of your family.  This equally applies to businesses as well as family offices and is the starting point for many successful organisations.   There is a wealth of evidence that organisations with a clearly defined purpose perform better than their non purpose driven competitors.  Having a clear purpose, effectively communicated across the family or organisation can greatly assist in delivering outcomes, aligning stakeholders and in transitioning wealth across generations.  With a clear purpose in sight the structures and governance procedures can be put in place to facilitate effective decision making to maximise opportunities in a focused and considered manner and drive better outcomes.