Does My Family Need a Family Office

Families with significant resources are increasingly turning to formalized family offices to creatively deploy and manage their capital. As leaders of family-owned businesses look to unlock generational wealth stemming from a liquidity event, they might wonder whether a family office is the right next step—and if so, how such an office might work in practice. For anyone thinking about a family office, there are four key considerations to keep in mind: (1) embracing your complexity; (2) identifying your purpose; (3) understanding the critical capabilities; and (4) selecting the optimal structure.