Family Offices
Many high net worth individuals and families have created Family Offices as a mechanism to transfer inter-generational wealth and to manage demanding professional and lifestyle services with maximum discretion. These services range from asset management to tax and accounting activities, from estate planning and real estate management to philanthropic strategies.
Many Family Offices have evolved in response to growing individual and collective needs and wishes, but without clear focus on the office’s mission, objectives, and longer-term plans. This is complicated over time by the family’s growth and corresponding wealth generation or dilution. Critical questions then arise about need, governance, management, strategy, operations, and information technology requirements, as well as more traditional business questions about the cost and value of the office’s services.
CLAYTON PRESS is privileged to have worked with several Family Offices, providing confidential, high-level management counsel on a broad range of subjects. We work closely with the family patriarch, matriarch, or Board to understand and distill the rationales for the Family Office to ensure a clear and consistent vision. We analyze key operational data to identify and maximize the Family Office’s opportunities for greatest improvement. This analysis often leads to questions of strategic and tactical importance:
- Do we need a Family Office? If so, why?
- What form should the Family Office have? Single-family, multi-family, trust company, or another form/structure?
- What services should be done internally? What services should be outsourced?
- What controls are in place to manage the Family Office efficiently and cost-effectively?
- To what degree should family members and third parties be involved in the management of the Family Office??
Among management consultants, CLAYTON PRESS is singular in understanding the unique strategic business interests and lifestyle needs of high net worth individuals and families and in providing counsel to both the benefactors and recipients of philanthropy.
Please contact us if you would like more information about our Family Office consulting services. Or you can request our Family Office white papers or case studies (PDF formatted documents), which we will send to you via email.
