Setting up a single family office is expensive, but fairly straightforward. Building and maintaining a successful one that’s cohesive, transparent and forward looking, however, is difficult.
Posts Tagged: High Networth
There are two structures commonly used to facilitate philanthropic giving: a private ancillary fund (PAF) and a private charitable trust.
Regardless of size or generation a family business is in, they face challenges. No family business is more or less complicated than the next; the true indicator of their success is how they work through their challenges.
‘Family councils are one of the most powerful and engaging tools for families to come together in a round table style to consider and communicate financial, social, intellectual, spiritual and human capital.’
Cultural diversity is being seen as increasingly important, particularly with companies that are expanding into Asia. The appointment of overseas directors or directors with varied cultural backgrounds is trending upwards and gender diversity is becoming a priority at board level for many organisations.