Jorry Remizowski, MSc, CIM, FCSI’s Post

As the #familyoffice industry grows and matures, having experienced leadership, specialized expertise, and strategic planning is critical to the sustained success of family legacies. When establishing or reevaluating family offices it can help to keep in mind some best practices. Family offices frequently serve as a symbol for a family’s choice to invest as a unit by pooling their resources, enabling them to develop specialized investment strategies that are tailored to the requirements of a particular family. New family members, however, may forget or not understand the need to retain assets in the family office as the family starts to scale. As I said in an interview for Family Business Magazine, “The family office should be a place to support longer-term goals and objectives across generations. When you disseminate the money to many people, you lose the purchasing power and the ability to achieve joint goals. Everyone has less to work with. But if you keep the wealth together, you have more power from an investing perspective and lower costs.” Click below to read the full article and learn more about what critical factors ultimately guide the preservation and growth of legacies. #familylegacy #legacypreservation #familyenterprise

Why does the family office “industry” fail to serve families effectively? A thoughtful two-part exploration of the state of the family office industry from expert Edward Marshall of Dentons in Family Wealth Report. Ed proposes a simple, functional criteria for family office services: Does this activity improve the quality of life for the family? Required reading. Part Two is here: https://lnkd.in/e8jQye_Q Tom Burroughes Stephen Harris Theodora Viney Rachel Fokes Philip Harris Andrew Deane #familyoffices #wealthmanagement #strategy https://lnkd.in/eCzmQahZ

My Dentons partner Edward Marshall has taught me many things about our tradecraft. However, one of the most impactful is the concept that family offices are a mindset and methodology - not entities or structures defined by monetary thresholds, lists of responsibilities or tasks, or predetermined objectives. The primary objective of all family offices, regardless of resources, ambitions, family net worth, or operational and organisational style, is to improve the quality of life for families. Framed in this way, all of us technically have a family office performing tasks and managing risks. However, the financial resources available for those tasks are the primary distinction between an ordinary household and what is now commonly described as a family office. I don't think many advisors and institutions purporting to serve family offices understand this mindset and methodology conceptual framework. They view family offices as consumer market segments, legal entities, wealth management firms, business operators, or quasi-financial institutions to be marketed to, regulated, and pitched to for capital/grants. This misconception is often unhelpful and so I am pleased that Eddie has shared his unique perspectives and expertise with a wider audience in this article. #familyoffice #privatewealth   

The role of family offices is integral to managing substantial wealth across different geographic locations. As the world becomes increasingly interconnected, the importance of having a trusted family office partner by your side cannot be overstated. Feel free to check out the article for a deeper understanding! #FamilyOffice #WealthManagement #GlobalWealth #TrustedPartner #FinancialInsights

Generational transitions require both planning and discussion. For family offices in particular, there are many complex considerations that factor into succession planning. In a recent article from The Family Office Professional, Generation6 Advisor Veronica Maldonado Degwitz shared her personal experience as a compelling example of effective succession planning within family offices. Following her father's passing and inheriting the family estate, subsequently taking on the role of board chair for The Wellmeaning Companies, a multifaceted family office encompassing real estate and investments, inspired by her father's values and vision. “We had to figure out: How do we work together? How do we work with our trustee? How do you work with your siblings, who you have known your whole life but have never necessarily had to work with?”
 One primary lesson to draw from Maldonado's journey is the crucial importance of establishing governance structures such as a board before they are needed. This proactive approach ensures a smoother transition during periods of grief and uncertainty. Additionally, families and family office professionals need to consider family member succession, financial succession, and succession of non-family team members in their planning. For the Maldonado family, having these elements in place help them look to the future for their family and family office. “In Wellmeaning, we are transforming our family office. Rather than a cost center where family members get different services, we are creating a real estate company and a portfolio of investment companies, and have it function as an organization.” Read more about Veronica’s story and insights to consider in your family office succession planning at bit.ly/3vs4FD6. Join us in conversation generation6.com #generation6 #buildingfamilycapacity #familybusiness #familyenterprise #familyowned #familyoffice #successionplanning

Interesting article about Family Offices moving beyond wealth management from Campden Wealth highlights a significant shift in focus from mere wealth preservation towards a holistic approach encompassing familial well-being and environmental stewardship.   The article echoes sentiments we've long championed—that while financial capital undoubtedly holds its place, true prosperity lies in nurturing family relationships, fostering meaning, and prioritising overall well-being over purely financial gains. A family office confined solely to the confines of a spreadsheet fails to harness its full potential, missing out on the opportunity to cultivate genuine family harmony and lasting fulfilment. #familyoffice #familyoffices #wealthmanagement #familydynamics Tim Collin Andrew Bradley Craig Barry Kendell Bell Scott Girdlestone https://lnkd.in/eEXAfdiv

Affluent families in Australia are leaning in on the idea of starting a family office. Simple Expert Erik Solum, family office advisor at William Buck, highlights some of the key benefits of setting up a family office - including succession planning and governance. He outlines the pitfalls to avoid and gives practical advice on how to create a strategic plan that serves as a roadmap to building a strong foundation. Read more here: 👉 https://bit.ly/3WJ1fHo #FamilyOffice #WealthManagement #PrivateWealth #FamilyOfficeAdvisory

From cross-border reporting to increasingly globalised families, find out how to navigate the challenges of advising family offices: https://lnkd.in/gw9B5BA3

Nice article on family offices and some of the important issues the families they serve are facing, along with issues they face themselves. One in particular that caught my eye was succession planning. How can a properly run family office advise their client(s) on the importance of succession planning when they have neglected that very topic themselves? #lifeinsurance #familyoffice #highnetworth

As the family office landscape continues to evolve at pace, Alice Quek, our Head of Private Client – Asia, and Laura Nevitt, Head of Family Office, explore how trends in Asia and Europe are shaping approaches to family succession planning and investing, and what impact geographical context has when it comes to family wealth planning. Read their full article here: https://hubs.ly/Q02r6gVY0 #WeAreHawksford #privateclient #familyoffice #family #wealth #succession #successionplanning