Kirby Rosplock

The Complete Family Office Handbook (eBook, PDF)

A Guide for Affluent Families and the Advisors Who Serve Them

• Format: PDF

Produktbeschreibung

Discover new insights on how to setup, manage, and advise wealthy families and their family offices The Complete Family Office: A Guide for Affluent Families and the Advisors Who Serve Them, 2nd Edition represents the newest update to an essential series. This book prepares the members of wealthy families to collectively manage, sustain, and grow their wealth across multiple generations. It also assists professionals who advise families to better serve their needs. This book teaches those who advise family offices and wealthy families on: · How to setup, structure, and advise a family office · Current compliance, fiduciary and risk management practices for a family office · Forward-thinking investment management, estate planning, and private trust company considerations · Fresh insights on philanthropy, legacy, and impact investing · Best practices to managing family wealth education and preparing next generation owners · New insights on family governance, strategic planning, and succession · Methods to create a family constitution, mission, and vision for families and their family offices. The Complete Family Office Handbook provides the most comprehensive, current research, practical guidance, and approaches from leading family offices from around the globe and illustrates, by way of practical case studies and examples, how families can effectively manage their wealth for the long term.

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Produktdetails

• Verlag: For Dummies
• Seitenzahl: 480
• Erscheinungstermin: 5. November 2020
• Englisch
• ISBN-13: 9781119694090
• Artikelnr.: 60534574

Autorenporträt

KIRBY ROSPLOCK, PHD, is the founder of Tamarind Partners, Inc., a world-class family office consultancy and founder and Chief Learning Officer of Tamarind Learning, a comprehensive, virtual learning platform for family offices, advisors, and the families they serve. Visit our websites at TamarindPartners.com and TamarindLearning.com to learn more.

Inhaltsangabe

Foreword xix

Preface xxi

Acknowledgments xxv

Chapter 1 Introduction to the Family Office 1

Kirby Rosplock, PhD

A Macro View of Global Wealth 2

Billionaire Update 7

How Much Do I Really Need to Fund a Family Office? 10

Purpose and Definition of the Family Office 11

Historical Background of the Family Office 12

Family Office from the Industrial Age to Current 13

Key Roles of the Family Office 16

The Executor and Trusted Advisor 16

The Guardian and Watchman 17

The Librarian and Guru 19

Family Office Orientation to Family, Strategy, and Operations 19

Conclusion and Final Thoughts 24

Notes 24

Chapter 2 Family Office Evolution: Inceptions and Archetypes 27

Kirby Rosplock, PhD

Inception of a Family Office 27

Scale: How Much Is Enough? 28

Impact of the Family Business on the Family Office 30

Attractions and Challenges with Embedded Family Offices 30

Separating the Family Office from the Family Business 32

Sudden Wealth 33

The Investment-Focused Family Office 34

Family Offices Through the Back Door 35

Family Business Exit and Liquidity Event 36

Family Office Archetypes 37

The Founder's Family Office 37

The Virtual, Administrative, and Compliance Family Office 38

The Philanthropic Family Office 39

The Direct Investment and Investment Offices 39

The Family Business-Focused Family Office 40

The Multigenerational-Focused Family Office 41

Mathile Case Study 42

Background: Inception 42

Evolution of the Family Office: Strategic Planning Cycles 43

A Multigenerational Perspective 44

Alignment, Urgency, and Action 45

Discovery and Steps 47

Involving Outside Experts 48

Conclusion and Final Thoughts 49

Notes 50

Chapter 3 Comparing Family Office Solutions: Multi- and Single-Family Offices 53

Kirby Rosplock, PhD

Trends in the Family Office Landscape 54

Determining Family Wealth Management Needs 58

Why the Single-Family Office Solution? 59

Why the Multi-Family Office Solution? 65

Questions to Ask During the Evaluation Process 68

Pathways to Selecting a Multi-Family Office 74

Godspeed Case Study 75

Introduction 75

Background of the Family and Family Office 75

A Trigger and Decision for a New Direction 76

Journey to Find What Is Next 76

Decision-Making Process 77

Final Cut 78

Key Insights and Outcomes 80

Conclusion and Final Thoughts 81

Notes 82

Chapter 4 Family Values, Mission, and Vision and the Family Office 83

Kirby Rosplock, PhD

Introduction to Values 83

The Process of Exploring Values 85

Values Statement 86

Mission Statement 87

Values, Mission, and the Family Office 88

The Importance of Vision 89

Elements for Successful Family Office Visioning 92

Building Your Family Office Vision 94

Pitcairn Family Case Study 95

Five Steps to Creating a Family Vision 98

Step 1: Clarifying the Process and Expectations 99

Step 2: Vision Retreat Pre-Planning 99

Step 3: Staging a Vision Retreat 100

Step 4: Timing for a Vision Retreat 100

Step 5: Aligning Vision and the Strategic Plan 100

Conclusion and Final Thoughts 101

Notes 102