Identifying and sequencing the most common concerns faced by single family offices (SFO) and families of wealth, through surveys and interviews with family principals and executives within an SFO, allows for the focus of collaborative solutions among the SFOs and families, as well as advisors and providers, in overcoming these concerns through shared experiences, education, guidance and actionable ideas. Below is the list of top 10 concerns, concluded in late 2009. Future blogs will briefly discuss these concerns in further detail. More comprehensive research and white papers distributed by Family Office Association in 2010 will discuss possible solutions.
- Preserving their wealth as well as family history, culture and values
- Sustaining tax efficient distributions to family principals while growing capital
- Sourcing globally opportunistic investments including public and non-publicly traded equities as well as real estate and other non-correlated assets
- Teaching the younger generation to multiply the family legacy
- Cash alternatives
- Investment risk management and due diligence
- SFO succession and talent
- Family harmony
- Family privacy, security & safety
- Efficiencies in SFO operations including technology for accounting, aggregation, reporting and family communication
ABOUT FAMILY OFFICE ASSOCIATION
The Family Office Association (FOA) is a global membership organization exclusive to single family offices (SFO) and families of wealth. In a world of uneven information, families of wealth need to come together in a confidential setting to share ideas and compare notes. The Family Office Association seeks to provide the combination of privacy and openness where relationships of trust can grow. FOA also provides programs, roundtables, significant summits, research and a secure place online for the exchange of experience and thoughtful advice from such peers and families who may be journeying on the same path. FOA seeks out the best experts and notables in the family office industry to educate our members. FOA establishes the place where families can truly raise social capital.
Angelo J. Robles
Founder & CEO
Family Office Association
www.familyofficeassociation.com
angelo@familyofficeassociation.com
203-570-2898
