Articles
Meeting the Challenges of the 21st Century Family Office: Integrating People, Process and Technology
(From Southeast Wealth Management Business, July 2008)
This article discusses how successful families respond to the challenges of increasingly complex offices, effective business processes needed to fulfill the functions of a family office, and how technology completes the picture.
The Importance of Being Benchmarked: It can help your family office meet- or exceed- expectations
(From Trust & Estates, August 2006)
Is Your Family Office Techno-Savvy?
(From Trust & Estates, August 2005)
One size doesn't always fit all. That's why it's advisable to look at all your options when you want to out-source or build your family office technology to improve productivity and profitability.
People, Process & Technology to Meet Your Fiduciary Responsibilities
(From Senior Consultant, Vol 7, No 8, August 2004)
What high net worth investor would not be attracted by an advisor who has adopted proven technology, best practices and business process implementation based upon professional standards? Advisors and their high net worth clients ultimately have the same objectives when it comes to fulfilling their respective fiduciary responsibilities.
IT Upgrades for Improved Performance in Your Family Business Office
(From Families in Business, December 2003)
As a growing family business owner, you must execute your strategic business plan, build great products, stay focused on maintaining excellent client relationships, and deliver strong financial results. You also need to ensure that your business technology infrastructure provides your company a strong competitive advantage.
Multi-Family Office Outsourcing: Due Diligence and Conflicts of Interest
(From Institute for Private Investors, Investor-Advisor Dialogue & Roundtable, December 2003)
When your family office out-sources activities or functions to others, what sort of conflicts of interest arise and how should you mitigate them?
Business Process Reviews Improve Family Office Operations
(Family Office Metrics White Paper, July 2003)
Have you found yourself asking why it takes so long to get information about your investments; so long that the information you finally receive isn’t current enough for you to evaluate whether your portfolio and your managers are performing adequately? Perhaps you wonder why it takes so many people to keep track of the family’s financial data, especially when meaningful and timely reports are not available. Are you puzzled as to why the cost of running the family office is so very high, when client service and responsiveness is less than what you expect? It may be time for you to consider having a professional business process review.
Business Continuity Considerations for a Small Family Office
(Family Office Metrics White Paper, June 2002)
Since the tragedy of September 11, 2001, most family offices have become more concerned about their ability to continue operations should a serious interruption occur. Taking stock of the basic requirements that must be met, and keeping an eye on costs and complexity, many family offices have implemented simple and cost effective business continuity plans. This whitepaper outlines successful practices that can be easily implemented by your family office.
Designing and Implementing Technology in Your Family Office
(From Families in Business, April 2002)
Today more than ever, families need information about their personal financial affairs quickly and easily. Whether at home or away, family members need to stay in touch with each other in order to make decisions, provide counsel, or just stay informed. Today’s family business office provides the framework for the collection, integration, and communication of personal financial information to the family.
The Functions of a Family Office
(From Journal of Wealth Management, Vol 4, No 2 Fall 2001)
Families today face the challenge of keeping family wealth in the family, while continuing the legacy of the wealth creator. Families that successfully share values through generations will preserve and expand the family’s wealth. The author believes that the most effective approach for a family of significant wealth to preserve and enhance its wealth through the generations is by the creation of a properly functioning family office. The CIO, CFO, and Trustee functions described support the objectives of a wealthy family that wants absolute control over its own affairs, completely customized and personalized service, and privacy. Thoughtfully managed, the family office is the best chance available for a family to successfully share its values and its wealth with succeeding generations.
Restructuring the Family Office & Modeling the Alternative Family Office
(From Sophisticated Investor Strategies, May and June 2001)
Small family offices have several options when they want to upgrade their operations. Families searching for an integrated solution have more options from which to choose.
View Article - Restructuring the Family Office
View Article - Modeling the Alternative Family Office