Private Asset Management

Family Offices Set Up Committees 09/02/2009

As family offices struggle to make it through the recession, with many trying to cut costs and reduce staff, some are setting up advisory committees instead of hiring specialists to address issues such as family governance, investments and philanthropy. These committees are comprised mostly of family members and outside professionals, such as advisors from private banks, attorneys, accountants or independent investment management consultants who help the family make decisions on what to do with their wealth for free. By creating such committees, families can keep the costs down, and advisors can benefit from references families make to their networks. ...

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