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What family offices actually do to serve families.
On a call last week, a family business executive I was speaking with asked a simple, yet profound question. “What is a family office” or What do you mean when you say family office?
A conversation we have been having with family offices recently is about the magnitude and significance of the change when a family moves from being predominately an operator of a business(es) to an investor in businesses. This shift can be sudden in a liquidity...
The same time horizon advantage families have as operators, is also in place for the family’s investment activities. Despite this being the most powerful advantage, it is also the most tenuous.
“Without the company, the family’s perception of itself and its purpose can change, and it is often something that members are not prepared for. Their focus was on running the business and then on the sale; little thought went into what comes next.”
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