When asked “Why did you establish your family office” most founders would say “to preserve our family wealth for generations to come and to protect the family from any conflict that may arise from managing such wealth”.
Most often single-family offices are set up with the good intention of keeping the family (and wealth) close, but when going through a generational transition, diverging interests may tear the family office and family apart.
This fate can be avoided if the owners of the family office are willing to make a few key decisions together to set it up for long-term success.
