Review from first edition: It is profound, comprehensive and written by the best in the field. Best practices are at the forefront, and its approach is practical and holistic.
Review from first edition: This book is an enjoyable way to open your mind beyond the daily business of business to the daily business of building families and benefiting societies.
This book sets the gold standard for the sophisticated family advisor’s increasingly higher duty of care for protection and preservation of existing assets and continuing pursuit of success in business. For family members, it frames the many important choices for families confronting an increasingly complex, hostile and intrusive world.
Whether using the handbook as a comprehensive overview to be read in one sitting or as an ongoing thorough resource to probe into, in my opinion this book is an excellent timely investment for those dealing with the family office, wherever they are established. I would recommend this wholeheartedly and consider that it should be in the library of all concerned families, practitioners and advisors.
Prepared in association with STEP, the world’s leading organisation for private wealth professionals, this new edition of Family Offices features updated chapters from key players in the field including Sandaire, Pitcairn and Farrer & Co.
This practical guide steers readers through the family office model, from its inception to the final stage in its “life cycle”, and covers:
- Establishing a family office and choosing the right jurisdiction
- Recruiting and managing staff
- The pros and cons of a “virtual” office
- Evaluating a multi-family office
- Millennials’ interest in investments
- Reputation protection
- Using social media, total risk analysis and tools
- Communication and cultural issues
- Governance, crisis planning and long-term resilience
The second part of the book explores the increasing number of important jurisdictions and features chapters on Australia, Bermuda, Canada, the Gulf region, Hong Kong, India, Israel, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States.
Whether you are a professional practising in the family office sphere, a family member or a new entrant to this diverse and challenging arena, this comprehensive publication provides essential insight into all aspects of the family office world.