There has been a surge of interest among family businesses in the actions of family offices – ever since the beginning of the worldwide monetary crisis, special entities founded to manage and administer a family's portfolio of investments, while also making sure that future wealth-creation activities occur in sustainable ways for generations to come. With the combined wealth of the 50 biggest family offices representing almost $1 trillion, family businesses are naturally keen to take direct charge of their appreciable assets through these vehicles, and this trend seems set to continue.
Paths to Keep Wealth in Family Hands Case Study Solution
To gain a clearer picture of what's occurring in this growing field, the authors assessed family business cases from the United States and Spain to explore why and how families set up and develop family offices. Their findings indicate that the success of the process is dependent upon the degree to which the family's values and vision are aligned with an entrepreneurial strategy; and also the existence of well-defined systems, arrangements and processes, and in particular entrepreneurial behavior and attitudes.
PUBLICATION DATE: September 20, 2014 PRODUCT #: IIR127-PDF-ENG
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