Succession planning for a family office often looks different than a family business. For starters, family offices tend to be more personal. And private. Typically, the leader knows more about the family than anyone else. This makes it uncomfortable to consider a new leader, much less transition to one. Just like a family business, though, successful succession planning is necessary to a family office’s future.
The members of a family office believe in conflicting strategies for transition. To better prepare for succession, a family office should start by ensuring alignment on a succession strategy. They should ask simple questions, which define the qualities expected and needed in the next family office leader.
Uncover these questions in “Successful Succession in a Single-Family Office.” Also, you’ll come away with four additional steps that will help you plan for succession in your family office.
Read about how to plan for succession in a family office here.
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