Key family office personnel often serve as fiduciaries of family trusts and business structures, exposing them to significant personal liability while providing a workable, though limited, fiduciary solution to those families. This arrangement is common in single family offices (SFOs), but SFOs have a fiduciary alternative—a private trust company (PTC). Unfortunately, as a result of burdensome Securities and Exchange Commission (SEC) regulations, a single PTC isn’t an option for
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