Family Office Governance

 CONTINUITY

FAMILY BUSINESS CONSULTING

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Many aspects of family office governance are derived from family business governance practices. However, family  offices have some their own special requirements as well.

Single family and multi-family offices are growing rapidly and it has become widely accepted that a  governance structure is a key element for their success.

In a study conducted at the University of Pennsylvania’s Wharton School, it was found that family office governance is key to ensuring adherence to the family’s value system, its overall purpose and successful trans-generational wealth transfer.  Furthermore, to create value, mutual trust between the owners, the board and family office management is critical. 

It’s important for families participating in a family office to  be clear about their goals, expectations and why they want to work together. Just as mission statements and visions are important in family owned businesses, they may need developed for family offices as well. 

Oftentimes, family office managers need assistance with family business members. Continuity Family Business Consulting can work with the family office and the family members to successfully align their visions leading to long term success.