Abstract
A common working definition of a family office is established: a self-contained organizational unit belonging to one or more families or individuals with a large portfolio of complex assets. The family office exists to organize the management of that wealth by bundling assets and streamlining services for better long-term growth. Crucially, the active consulting that the family office provides to its individual members or family as a whole must always be free of conflicts of interest. Family offices are typically created following a cash event or in the context of generational change, to professionalize the management of wealth and promote family unity.
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Canessa, B., Weber, C., Koeberle-Schmid, A. (2018). What is a Family Office?. In: The Family Office. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-99085-9_1
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DOI: https://doi.org/10.1007/978-3-319-99085-9_1
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-99084-2
Online ISBN: 978-3-319-99085-9
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