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Opening the Family Office
Family Office Advisory

We were recently approached by a family that has been blessed with significant entrepreneurial talent. The patriarch of the first generation had built up substantial assets through multiple ventures, and was now helping to finance several similar ventures by members of the second generation. He was also engaging in significant philanthropic work.

The patriarch—whose individual wealth exceeded $80 million—asked us to help him establish a family office. He didn't want to disrupt existing relationships with counselors and advisors, but he was growing concerned about the amount of time he had spent in recent years overseeing and distributing his wealth. He was also tired of recurring conversations about money with the members of his extended family. "We never used to talk about money," he observed at our first meeting. "Now we only talk about money."

We coordinated with the patriarch's existing advisors to professionalize and centralize many of the family's activities, reducing much of his workload in overseeing the different ventures. We also arranged with the family that all requests for financial assistance henceforth would be directed to our office—thereby letting the family be a family again.

Finally, we reorganized and rationalized the family's financial footing. This helped ensure that the patriarch's legacy would remain intact for future generations. Just as important, it gave him back the time—and the peace of mind—that he needed to pursue his own interests and enjoy his family.

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