What is a family office board of advisors?

What is a family office board of advisors?

by Richard C. Wilson & Family Offices Group Association Team

Question: What is a family office board of advisors?

Answer:  A board of advisors is something that many family offices do not formally have in place.  A board is much different than an investment committee in that it should be made up of very senior or well-connected executives from outside the family office. The goal of the advisory board is to hear unique perspectives and strategies on preserving capital, running a family office, or growing the business of the family office.

Most operating businesses, including family office organizations, do have a sounding board of trusted advisors in related industries, but the more intention a family office puts into building a diversified and robust board of advisors, the more they will benefit from having such a resource in place.

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Read more Frequently Asked Family Office Questions.

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