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The professionalization of the family office is a continual trend that has been gaining momentum with the rising tide of data, new technology, and increased expectations. The shift is a natural evolution—one that strengthens the family office’s ability to sustain and grow wealth across generations. By leveraging institutional-grade investment practices and operational guidelines, learn what actions you can take that will do the most to facilitate the successful evolution and modernization of family offices.

For centuries, sophisticated families with significant resources have used a formalized family office structure to manage their assets. Additionally, family offices have become increasingly popular as more and more families have amassed resources. Along with that trend, the complexity of the investment landscape and the range of issues and responsibilities associated with significant wealth has grown—including risk management, governance, and cybersecurity.

From working with forward-thinking family office leaders for more than two decades, we can see with a bird’s eye view of the family office space and have a keen awareness of the forces and demands that are shaping it. In today’s environment, we see even more change than usual, including meaningful structural transformations. For family offices, the ability to adapt thoughtfully to change is essential.

At every stage, a Family Office needs the right team, governance, and processes in place to continue growing. With this Family Office Maturity Model that identifies the five different stages—embedded, early stage, developed, professionalized, and mature—you can assess areas for improvement and determine the right steps to progress. By understanding these stages, you will be in a better position to make informed decisions about governance, operations, and team development for your Family Office.