Kathryn M. McCarthy is a New York City-based independent consultant to families and family offices.
Is It Time To Close The Family Office?
There are an estimated 3,000 single-family offices (SFOs) based in the United States1 and, according to a recent survey by the Wheaton, Ill.-based association Family Wealth Alliance, the number one concern for many is sustainability: Will the office remain financially viable? Will the family maintain the necessary cohesion and commitment? Will they manage the transition to the next generation? These