Lido Advisors, LLC’s Post

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

Single Family Offices ("FO") are a hot topic in Asia and I hear a lot of questions about the "governance of family offices"; which has had me reflecting on what I see amongst my clients (which is a diverse bunch). 1. The governance of the FO is not the same as governance of the family - which should drive its own governance. The FO can provide admin support. 2. With the FO the question is more likely to start with what is the ownership governance of the FO? 3. There is a difference between management and governance. My guess is that a lot of people are really asking the question of how should a well managed FO be organized (not governed). 4. If you think about FO governance that is likely to take you to the corporate model - but I have a couple of clients where effectively there is a controlling owner or effectively a partnership model (at the ownership level) and no functional board - and they work fine for this stage. 5. On the other end of the spectrum I see FOs that are essentially under a holding company and in that case I tend to think of the FO as being like a business unit / management/operational level in the group (and yes this arrangement might not fit neatly with the idea that the FO should only deal with the family's liquidity). 6. If you do think of a corporate model where you have a board with INEDs between the controlling owners and the CEO/management - sadly I have seen the FO CEO fall out with the controlling owner and my reflection is that HR advice to help look at development, comp, etc of the CEO can be an important need (not to say that it has to come through the board). 7. Therefore INEDs can help be that buffer between controlling owners and the CEO (or senior managers) and bring the perspective of what is normal. 8. Dennis Jaffe has won me over to understand that the phrase "if you have seen one family office you have seen one family office" - is unhelpful -because there are stages and models and common combinations. That is part of his thinking on Wealth 3.0. 9. Family values are for .... the family! The FO is a service organization supporting the family. Therefore what are the behaviors that are going to help the FO fulfill upon that mission. See my chapter on this in Essential Reads. 10. Some FOs provide support for the family charity; in other cases the foundation is completely separate. How do you decide and when do you decide to make that kind of split? Therefore "governance" might come down to having a periodic strategic/organizational planning process where you look at what you do and how you are organized and ask what what do others do and what is the next step for us? That might involve help from an INED or from an advisory board or just help from your team of advisors. But outside perspective is important. Honored to have two chapters in this new valuable publication from Globe including one on family constitutions https://lnkd.in/gCcWmQ4B

Family Office best practice. A guide to good governance.

Embedded family offices are the most prevalent type of family office structure on a global basis. They are often the least understood and are ripe for problems … if not structured and managed properly. Thank you to Margaret Steen of The Family Office Professional (or TheFOPro) for highlighting the issues and some solutions. My firm, Xylogenesis | Family Office Advisory, works with families, their operating company (or companies), and their other trusted advisors to address these concerns. #embeddfamilyoffice #familyoffices #singlefamilyoffice #virtualfamilyoffice #hybridfamilyoffice #governance #structure #comingle

Advisors to international family offices have identified the key components required for a prosperous and long-term operation. One efficient way for families to navigate these complexities is through a family office. It can help consolidate the family vision, enable effective governance for both the family and its business, and provide a vehicle for the stewardship of family wealth for generations. Learn more about what family offices need to succeed here: https://lnkd.in/gxcTvVv5

Establishing a family office or expanding the services of an existing family office, requires careful consideration and planning to properly manage and protect a family’s wealth. Effective governance is key to the relative success or failure of a family office, just like any other organization. #FamilyOffice #Governance

In a Family Office governance is not just important, it is crucial. Take a look back to read Agreus Co-Founder Paul Westall’s best practice guide to good governance in Forbes and see his recommended three steps to Family Office success. https://lnkd.in/egkWgMXD

🔍Are your family office leaders ready to transfer their responsibilities to the next generation? Crafting a strong and effective succession plan requires forward-thinking and strategic planning. In the latest article from @Canadian Family Offices, BDO Canada's Jeff Noble shares valuable insights on how preparing for succession now can help protect the wealth and legacy that has been built over time. #FamilyOffice #SuccessionPlanning #WealthManagament

What is a Family Office? In its most general form, a family office is a wealth manager created to support the family in the day-to-day administration and management of their affairs and long-term strategy. It is often considered as a privately held company that handles investment management and wealth management solutions for a wealthy family, with the goal being to effectively grow and transfer wealth across generations. Whether the purpose of the family office is to optimise investment holding structures and governance, or monitor property, luxury assets and/or investment portfolios, it is critical that a family office is governed properly and run efficiently and effectively. Family wealth can be very specific and complex in terms of management. Since the start of the global pandemic, many wealthy families have had to re-think how they manage their assets, with many turning to single or multi-family offices as a way of handling this. A family office should always be driven by its ultimate goal: to align the interests of the family and make it easier for the family to manage and grow its wealth for future generations. At LJ Fiduciary we invest the necessary time to build a genuine understanding of the relationships and the needs of the family, providing a tailored solution to give each family exactly what they require. Our family office team provides a comprehensive range of wealth management services working with a select panel of leading tax advisors, investment managers and law firms to provide a collegiate approach and foster close relationships. #wealthmanagement #management #investment #strategy #familyoffice #fiduciaryservices #corporate

What is a Family Office? In its most general form, a family office is a wealth manager created to support the family in the day-to-day administration and management of their affairs and long-term strategy. It is often considered as a privately held company that handles investment management and wealth management solutions for a wealthy family, with the goal being to effectively grow and transfer wealth across generations. Whether the purpose of the family office is to optimise investment holding structures and governance, or monitor property, luxury assets and/or investment portfolios, it is critical that a family office is governed properly and run efficiently and effectively. Family wealth can be very specific and complex in terms of management. Since the start of the global pandemic, many wealthy families have had to re-think how they manage their assets, with many turning to single or multi-family offices as a way of handling this. A family office should always be driven by its ultimate goal: to align the interests of the family and make it easier for the family to manage and grow its wealth for future generations. At LJ Fiduciary we invest the necessary time to build a genuine understanding of the relationships and the needs of the family, providing a tailored solution to give each family exactly what they require. Our family office team provides a comprehensive range of wealth management services working with a select panel of leading tax advisors, investment managers and law firms to provide a collegiate approach and foster close relationships. #wealthmanagement #management #investment #strategy #familyoffice #fiduciaryservices #corporate