While modern corporations practice the art of risk management, this is not common among family enterprises, not even the most sophisticated. While wealth owners embrace formalized risk management, the focus of that endeavor tends to be on a single...
Many wealthy families are tempted to convert their single-family offices (SFOs) into a multi-family office (MFOs). The hope is that sharing their office services with other high-net-worth families will help defray costs and retain professional...