How to Design & Implement an Effective Board

Just as family businesses have boards and family foundations have boards, family investment offices should have boards, too. And the best family boards include several independent, outside directors. Boards provide oversight and accountability. Family organizations benefit from such oversight, and independent, outside directors on boards provide fresh perspectives and objectivity. They bring creativity and higher expectations to the family's purpose and share counsel and empathy with those responsible for managing the family's affairs.In fact, the greatest contribution a board can offer is to help the family achieve its mission.