Family Office Research Review

Abstract

The family office is one of the fastest-growing structures designed to help individuals and families manage their wealth. Whether a single-family office serving one family or a multi-family office serving several families, the family office serves as an alternative to private banks, registered investment managers, or any other specialized wealth management and investment platforms. A number of academic papers and survey-based white papers have been published in recent years aiming to establish the status of family offices as well as examine trends in their development and use. This study found a considerable degree of overlap in the topics covered but also noted some inconsistencies in the results between the different papers. In this article, based on an in-depth review of recent publications, the authors seek to offer a balanced perspective and insightful synthesis of this research.

TOPIC: Wealth management

Key Findings

• • This is an in-depth review and analysis of books, articles, and reports on family offices.

• • A family office differentiates itself from other types of investment or service firms by the level of its holistic approach and the personal attention given to families.

• • There is a need to define a proper governance structure that takes into account the requirements of all family members as well as educating the next generation.

• • A family office adjusts its structure to meet the evolving complexity of demands and challenges including multi-juridical needs, low interest rate, and digital advancement.