Starting a Family Office

Ten key questions to answer first

A family office is a business. Start by answering these questions and you'll have the information you need to begin drafting your family office business plan.

The first step in opening a single family office is to think of it as a business. You’ll need to develop a plan, and here are some of the questions you’ll need to answer.

1. Why do we want to work together as a family to manage our wealth?

2. How will we make decisions together as a family?

3. What are our goals (and mission) for the family office?

4. How will the family office be owned and structured?

5. How will the office be organized and managed?

6. What roles and responsibilities belong to the owners vs. the office executives?

7. What services will be provided?

8. What technology do we need?

9. How will we pay for the family office services?

10. How will we measure the success of the office?

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