Is a family office right for ‘your family’? Considerations include

· where to set it up

· how to staff it

· what is its role

· what challenges does it face in dealing with the family and outsiders

· privilege issues

· costs

· conflicts among family members.

Here an insider’s view of being inside the family office and the outsider’s view of advising the family office.

· What will it do: own staff or just employ people, one jurisdiction or multiple?

· Regulatory consequences of what it does and where it sits?

· How to pay for it?

· What is its role vis à vis the family and vis à vis the investments or assets of the family?

· What is the role of the family office vs management of family businesses?

· What challenges does it face in dealing with the family: privilege issues, costs, conflicts among family members and other considerations?

· What challenges do advisors face dealing with family offices: Incomplete information, gatekeeping?

· What challenges to family offices face dealing with advisors: lack of clarity, practical and actionable advice?