Using Probability in Family Office Decision-Making

Family Offices face complex decisions every day. These involve not just financial matters, but also multi-generational family relationships. The family office is responsible for thinking decades into the future to allocate resources and manage dynamics. These decisions can have multi-generational consequences. For any of these decisions, a simple binary is not the most effective way […]

Fine Art: 5 Family Office Best Practices

Wealthy patrons and admirers have been collecting art for millennia. The ancient Greeks and Romans eagerly collected not only art from contemporary artists, but also statues and paintings from even more ancient cultures. The motivations for collecting range from wanting to protect and preserve important cultural artifacts, to appreciating aesthetic beauty for its own sake. […]

Decision-Making for the Rising Gen

“… discover for yourself what is necessary and what is superfluous.” (Seneca, Ep. 110) Superfluous (adjective) su̇-ˈpər-flü-əs  : exceeding what is sufficient or necessary : EXTRA At a Glance One of the keys to happiness and productivity is learning how to prioritize. In the internet age this is more difficult than ever as there are quickly increasing demands on our attention. The […]

Building Resilience

Everyone faces some kind of adversity on life’s path. One character trait that distinguishes successful individuals (including entrepreneurs, athletes, and musicians) is their ability to effectively cope when they face those setbacks and move forward. They use failure as a feedback mechanism to get better and keep going through tough times. Many of those who […]

Managing Family Disputes

Successful people often have strong opinions. Their success has come from sticking to ideas, intuitions, principles, and processes, often in the face of opposition. However, there may come a time when this tendency turns into a disagreement among family members. Ideally the family is resilient enough to absorb disagreement and productively manage the conflict. This article […]

Dealing with Unique Assets

A Family Office Private Client Services Team Perspective Family offices, which manage the wealth of ultra-high-net-worth individuals or families, often deal with a variety of assets that can be challenging to administer and value. This challenge arises from the fact that the asset is unique and/or lacks a liquid market.  The Private Client Services (“PCS”) team […]

How to Evaluate an Advisor

There are many excellent advisors in the Family Wealth Industry. We have been honored to compete or collaborate with many of them in providing excellent services to client families. We also have received clients who previously had subpar advisors. Their estate plan revealed poorly drafted trusts and sub-par legal planning. How does a family know […]

Are You Asking the Right Questions?

Questions Build Rapport Meaningful relationships with others are an important ingredient of success and happiness in life. It’s rare when great achievements come about solely because of independent intelligence or efforts. Relationships are the foundation of what James Hughes has called “social capital”—one of the five forms of wealth that an individual or family possesses. […]

4 Family Office Best Practices

A New Era of Wealth For many decades, family offices were private and unique to each family served. In the era of Wealth 3.0, we are seeing a broadening of services, an expanding professionalism, and proliferation of options for High-Net-Worth and Ultra-High-Net-Worth families. Best practices for family offices have emerged. These help wealthy families know […]