Is good governance different in the family office setting?

As single family offices and multi-family offices grow increasingly influential in the practice of wealth management, it has become widely accepted wisdom that a sound family governance structure is a key element of the family office’s success.

• In a report entitled “Highlights for Benchmarking the Single Family Office: Identifying the Performance Drivers,” the Wharton Global Family Alliance noted that “…the more you invest in a governance structure for your SFO [single family office], the more you communicate and interact with the family members and the more you invest in the education of the next generation, the better the [financial] performance will be.”

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