The data is in! See what family owned businesses and successful families are saying about today’s challenges and opportunities.
In this insightful episode of the Family Enterprise USA podcast, host Pat Soldano welcomes Catherine Fankhouser and John Fitton, Family Office Advisory executives from Ernst & Young. Together, they delve into the complex world of family offices, providing clarity for enterprising families considering establishing or utilizing one.
Gain a comprehensive understanding of what a family office truly is – more than just wealth management, it’s a collection of essential services tailored to the unique needs of high-net-worth families. Catherine and John break down the three main models: the cost-effective embedded family office, the private and customizable single-family office, and the shared-service multi-family office.
Discover the advantages and potential challenges of each model, including the common pitfalls of embedded offices and the key inflection points that might prompt a transition to a standalone structure. The experts also explore the crucial decisions around insourcing versus outsourcing family office functions and highlight the importance of effective coordination.
Whether you’re a family business owner contemplating your first steps into the family office landscape or seeking to optimize your existing structure, this episode offers valuable insights into the key dimensions to consider – cost, risk management, privacy, and control – and provides guidance on determining the right approach based on your family’s specific circumstances and asset levels. Learn practical advice on finding trusted partners and adopting a long-term, business-oriented perspective to ensure the success and longevity of your family office.
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The need for fact-based reporting of issues important to family offices and successful families and protecting a lifetime of savings has never been greater. Now more than ever, family offices and successful families are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to family offices and successful families, while continuing to strengthen our presence on Capitol Hill.
Policy and Taxation Group is the Voice for Family Offices and Successful Individuals in Washington, DC focused exclusively on the critical tax and economic policies that impact them.
Since 1995, Policy and Taxation Group has been the leading advocacy group working to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income tax and capital gains taxes, the creation of a wealth tax, and other hostile tax policies that punish hardworking taxpayers and success.
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