Demystifying the Family Office: Expert Insights on Structure, Models, and Best Practices

https://www.youtube.com/watch?v=HV86G3RCPV0

Demystifying the Family Office: Expert Insights on Structure, Models, and Best Practices

In this insightful episode of the Family Enterprise USA podcast, host Pat Soldano welcomes Catherine Fankhouser and John Fitton, Family Office Advisory executives from Ernst & Young. Together, they delve into the complex world of family offices, providing clarity for enterprising families considering establishing or utilizing one.

Gain a comprehensive understanding of what a family office truly is – more than just wealth management, it's a collection of essential services tailored to the unique needs of high-net-worth families. Catherine and John break down the three main models: the cost-effective embedded family office, the private and customizable single-family office, and the shared-service multi-family office.

Discover the advantages and potential challenges of each model, including the common pitfalls of embedded offices and the key inflection points that might prompt a transition to a standalone structure. The experts also explore the crucial decisions around insourcing versus outsourcing family office functions and highlight the importance of effective coordination.

Whether you're a family business owner contemplating your first steps into the family office landscape or seeking to optimize your existing structure, this episode offers valuable insights into the key dimensions to consider – cost, risk management, privacy, and control – and provides guidance on determining the right approach based on your family's specific circumstances and asset levels. Learn practical advice on finding trusted partners and adopting a long-term, business-oriented perspective to ensure the success and longevity of your family office.

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Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions, and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization.

Family Enterprise USA promotes family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC.

Family Enterprise USA members meet with legislators in Washington D.C., to present non-partisan intelligence, research and information on the economic impact family businesses have on the US economy and job growth, as well as the contributions they make to their communities.

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Видео Demystifying the Family Office: Expert Insights on Structure, Models, and Best Practices канала Family Enterprise USA