Family Office Navigator

Over the past decades we have witnessed a massive increase in the number of family offices around the world. Consequently, the family office industry, including a vast array of services, has evolved. One can now find plenty of resources, including academic studies and courses, conferences for various stakeholders in the space, practitioners who specialize in advising family offices on multiple dimensions, emerging technologies, infrastructure to increase efficiencies within family offices, specialized services for family offices provided by financial institutions, and an increasing body of knowledge about family office performance. The increased spotlight has been in response to the growing interest by families for guidance, expertise, data, talent, and best practices for how to set up or strengthen their own family office. • The massive transfer of wealth to a new generation that is taking the reins of family businesses • The rise of a new category of wealth owners who have made their fortune in the digital revolution • The growth in the number of wealthy families in Asia • Families’ desire to hedge against global instability by diversifying assets beyond their legacy operating company • A desire by families to have greater control and transparency regarding how their assets are invested • A desire for greater privacy for families • A certain trendiness, glamour, and social status associated with owning a family office At the same time, the demand for more professionalized family offices has grown as an increasing number of family office organizations mature and aspire to higher professional standards, elevating the global benchmark for high-functioning family offices. Meanwhile, the level of complexity in family enterprises and families is rising, which is also leading more families to explore the option of setting up a family office. The range of activities families engage in – as owners, business leaders, investors, and community leaders–has become increasingly complex. Look at the world of investments, which has become more complicated and fast-paced, resulting in a wide range of investment opportunities that are not always easy to understand and navigate. More recent examples that have drawn the attention of both individual investors and family offices include cryptocurrencies and SPACS (special purpose acquisition company). These resulted in attractive, and rather sudden, returns for some investors, while leaving others with significant losses. This recent momentum has been fuelled by several trends, including:

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