What due diligence questions should I ask a family office that I am evaluating?

What due diligence questions should I ask a family office that I am evaluating?

by Richard C. Wilson & Family Offices Group Association Team

Question: What due diligence questions should I ask a family office that I am evaluating?

Answer:  Of course, you should seek legal and qualified financial counsel when evaluating family offices so please do not interpret this as all-encompassing advice.

As a starting point however, the seven questions below are fundamental and should probably be asked by everyone who goes in to meet with a family office that they may hire.

  1. What types of ultra-affluent clients does the family office serve?
  2. Can you speak with a few of those clients as references?
  3. How thorough and objective is the fund manager selection process?
  4. What is the portfolio construction methodology used by the family office?
  5. What family office governance best practices are in place today?
  6. Does the family office show a long-term commitment?
  7. What are the top three strengths and top three genuine weaknesses of the family office service offering compared to the competition?

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Read more Frequently Asked Family Office Questions.

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