Complexity and Costs

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3 Keys to Creating a Sustainable Family Office
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The tremendous surge in wealth has made it more challenging to establish a sustainable and successful family office, as revealed in the 2023 FOX Family Office Benchmarking Study. However, this research brief shows that a sustainable family office can be within reach when there is thoughtful planning that incorporates three key ingredients: strong governance, a focus on leadership and succession planning, and a dedication to learning and develo

2024 FOX Foresight: Future of the Family Office
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We are in a period of extraordinary wealth creation and accumulation that is driving the need for more family offices and expanding the breadth and depth of what is expected from them. This article contextualizes the impact those changes are having and why offices need to be built for the long run.

Highlights from the 2023 Family Office Benchmarking and Complexity Study
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Navigating increasing complexity and changing needs while demonstrating the value of a family office is no small feat. The day-to-day work of running an office often leaves little room to fully grasp the impact of the work being done to fulfill the family’s vision. This 2023 FOX Family Office Study explored several key components of family office operations such as complexity, cost, governance structure, education, and advisors and outsourcing.

Determining the Right Price: A Wealth Management Cost Framework for Families
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For families with substantial diversified portfolio investments, costs are an important consideration when devising an overall wealth management strategy. While there are a range of cost estimates drawn from real world examples, each family’s wealth management cost formula is different when analyzing it through a framework and analysis of four parts: the evaluation of costs; factors that can cause costs to fluctuate; key questions to ask when evaluating wealth management costs; and best practices.

BKD Podcast: The Family Office—Why Have One?
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Join host Damien Martin in his ongoing quest for insights and best practices for affluent families and their advisors as he sits down with guest Jeff Davidson to unpack the often mystifying and sometimes daunting world of the family office. Here’s what’s covered: