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Shifting From A Family Office To A Family Enterprise Mindset

A common mistake made by many high-net-worth individuals and families is failing to treat their family’s financial affairs as a business entity in their own right. Managing the business of the family’s assets is a critical practice that demands the same rigor applied to their underlying business activities.  An effective family office will provide several benefits, including:

  • Helping to manage and grow investment assets
  • Improving financial reporting and communications
  • Enhancing risk management (both from the perspective of investment risk and preventing the potential misuse of assets)
  • Strengthening estate and transition planning


Setting up and maintaining an effective family office requires a mindset that’s based on understanding the family’s assets beyond investment returns to include maintaining a healthy balance sheet, installing the appropriate controls, and providing effective software tools — exactly as you would in your business.

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