Family Office Navigator

Get ready for your fami ly off ice journey | 50 Navigating the Navigator

The Family Office Navigator tool is arranged in a number of building blocks that focus on and explore the key elements of your journey towards a successful family office: charting your course, defining your purpose, deciding on the focus areas, and organizing your family office. These blocks contain key questions that address the why, what, who and how of a family office; an approach that we have found very useful in our work with hundreds of families worldwide to deliver the clarity, breadth and detail needed on this crucial journey. The book replicates the structure of the navigator framework in a series of chapters and sections, laid out in a uniform style and pattern, to make your journey as familiar and intuitive as possible. Each building block in the Navigator has its own dedicated section in the book with an introduction that outlines key questions and context, a number of carefully selected strategic choices that will clarify and inform your thinking, and practical activities to help you and your family work together to define your choices and answers to the key questions. You will also find insights boxes that are scattered throughout the book which offer you different perspectives, insights, learnings, to dos, calls to action or things to keep in mind. Finally, we have selected a series of case studies with testimonies from families around the world, describing and explaining their own approach to the family office, to provide real world examples and to share challenges and stories of success as an inspiration for your own journey. In the following we will briefly elaborate on each of these elements in a bit more detail. • Strategic Choices : Through our work with enterprising families from a vast range of backgrounds and cultures, we have highlighted a vast array of strategic choices that we believe are fundamental for families to reflect on as they develop their own family office. These are effectively key decisions you and your family need to take along the way. There is no right or wrong answer to any of these. But it is essential that you come up with your own “recipe” and set of ingredients for your family office with these different options in mind. In this book, we present these strategic choices in a visual way, as a spectrum of choices across a dial or diagram of different approaches. We then pose questions to trigger discussion and debate for you and family to narrow down your options. Here is an example of such a strategic choice taken from the “Focus” chapter: