While we may not call it a family office but at the moment we are managing our family fund ourselves.
Even if you don't have billions, just by pooling your money you open up a range of opportunities that wouldn't be available to each family member individually. Furthermore, the next generation learns how the fund works so can gradually more into the decision making processes. At current growth rate it is foreseeable that we will need to look for support staff in the not too distant future.
We totally agree that governance and succession planning are key. It should also be perfectly acceptable if a family member doesn't want to participate (any more).
Nice blog really interesting hope to have a family office for my family one day !! 💪🏻🔥
Thank you, Jason!
While we may not call it a family office but at the moment we are managing our family fund ourselves.
Even if you don't have billions, just by pooling your money you open up a range of opportunities that wouldn't be available to each family member individually. Furthermore, the next generation learns how the fund works so can gradually more into the decision making processes. At current growth rate it is foreseeable that we will need to look for support staff in the not too distant future.
We totally agree that governance and succession planning are key. It should also be perfectly acceptable if a family member doesn't want to participate (any more).
I didn't really know much about these at all. Very interesting - thanks!