The Family Office
Product ID: 320066382
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Family offices are private organizations that assume the daily administration and management of a wealthy family’s personal and financial affairs. Historically, these repositories of great wealth were shrouded in secrecy, their activities conducted behind closed doors. Recently, family offices have acquired a considerably higher public profile: they represent a mere 7 percent of the world’s ultra-high-net-worth population―yet control a staggering 50 percent of the wealth. As only a select few families now hold a disproportionate amount of global wealth, there are significant social implications to how such assets are managed and used. This book provides an insider’s view for anyone looking to understand family offices and how to best serve and advise them. The veteran practitioners William I. Woodson and Edward V. Marshall offer a thorough guide to family offices: why wealthy families create them, what they do, and how to manage them effectively. They present these insights through a series of problem-based learning cases that follow a single family’s journey from the time of a significant liquidity event; through the creation, staffing, and management of their family office; and on to its succession. Each case study is supported by detailed background reference material. The cases and background materials are drawn from the authors’ practical knowledge, network of industry experts, and experience advising family offices large and small. They shed light on the unique issues that ultrawealthy families face and the solutions they adopt to address them throughout the life cycle of a family office. This book is the definitive resource for practitioners and students, as well as family principals, advisers, service providers, and all others who engage with the world of family offices. Review: Ein muss für jeden, der ein Family Office plant, aber auch für Studenten und verwandte. - Das Buch ist perfekt für jeden, der interessiert in das Thema ist; Student ist mit der Absicht in der Industrie zu arbeiten oder für Personen die durch ein Liquidity Event selbst ein Family Office planen (lassen). Auch für nicht (U)HNW Individuals kann das Buch sinnvoll sein um, mit einer Family Office Struktur, ihr Familienleben zu organisieren. Review: A practical textbook that's engrossing to read! - I've been a long-time student of family business and I found this book on family office management to be very interesting. My family office would be in the high 5 figures in terms of total assets, instead of the 10-figure plus that the book is intended for, but was impressed at the systematic way the subject of a family office and it's challenges and differences from a typical operating company were presented. Great model for a text book, as it has a fictional vignette, followed by a summary and some key questions to consider. As you progress through the book, you "discover" new areas and challenges, from investments, to IT, to travel management, to property management, and philanthropy. This book covers it all. If I ever have the opportunity to serve or advise a family office, this will be a go-to resource!
| Best Sellers Rank | #49,658 in Books ( See Top 100 in Books ) #503 in Investing #674 in Finance #712 in Business Processes & Infrastructure |
| Customer Reviews | 4.8 out of 5 stars 62 Reviews |
M**L
Ein muss für jeden, der ein Family Office plant, aber auch für Studenten und verwandte.
Das Buch ist perfekt für jeden, der interessiert in das Thema ist; Student ist mit der Absicht in der Industrie zu arbeiten oder für Personen die durch ein Liquidity Event selbst ein Family Office planen (lassen). Auch für nicht (U)HNW Individuals kann das Buch sinnvoll sein um, mit einer Family Office Struktur, ihr Familienleben zu organisieren.
D**N
A practical textbook that's engrossing to read!
I've been a long-time student of family business and I found this book on family office management to be very interesting. My family office would be in the high 5 figures in terms of total assets, instead of the 10-figure plus that the book is intended for, but was impressed at the systematic way the subject of a family office and it's challenges and differences from a typical operating company were presented. Great model for a text book, as it has a fictional vignette, followed by a summary and some key questions to consider. As you progress through the book, you "discover" new areas and challenges, from investments, to IT, to travel management, to property management, and philanthropy. This book covers it all. If I ever have the opportunity to serve or advise a family office, this will be a go-to resource!
S**O
Thorough overview of Family Offices including Aviation
I bought this book based upon the reputation of the authors and also curious to what they had to say about private aviation - my specialty. The book gives an overview of all the decisions that need to be made in setting up a single family office following a liquidity event, and that leads into a whole range of topics and issues including how to handle private aviation. The book is well researched and flows well. I think the book could use a few more graphs and visuals where appropriate but overall, a great read for those in this space who want to benchmark their knowledge or newbies like me who are getting to know the vastly important role of the family office within the life of an ultra high net worth family. - David Clark, Integris Aviation Consultancy
M**Y
If you work in the family office arena YOU NEED THIS
Authors Marshall and Woodson do a masterful job in creating this comprehensive family office guide covering everything from what to think about in setting up a family office, services offered, in-sourcing/out-sourcing, staffing considerations, compensation incentives, investment management, risk management, entity structures, philanthropy, governance, NexGen education and leadership – and much more. Marshall and Woodson provide much of the information through a memorable family office case study and offer key questions and tips along the way to help the reader consider what to do when along the family office journey. Finally, Marshall and Woodson offer valuable outside third party data and resources as support for their work and resource guides for the reader. Bravo!
H**D
A practical, comprehensive & concrete book on family office “know how”.
This is an excellent practical, comprehensive, and concrete book of family office “know how”. The authors are genuine experts on family offices with real life experience & not theoreticians writing academic papers. A great guide for anyone in the family office business, from lawyers, accountants and security professionals to professors and finance students studying the topic. This comprehensive approach makes it a real ‘go to’ encyclopedia of family office practices.
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