Ken Segal, Partner, and Peter Muwonge, Principal, discuss financial and risk management planning for family offices, an entity established by a wealthy family to manage their investments including ownership positions in companies.

A family office faces unique challenges that can be overcome with proper management and the help of trusted advisors. Early-stage family offices want to lay the foundation for longevity. That means due-diligence when sourcing and analyzing investment opportunities, implementing strong accounting and modeling processes that allow for decision-making based on KPIs, and working with a tax advisor to help maximize profits and maintain compliance.

Once these processes and service providers are in place, established family offices can focus on new investment opportunities and long-term planning. Working with independent and objective advisors can help you ensure that you are proactively managing your holdings.

We know that trusting your family office to an outside advisor or firm is not always easy. However, the right independent and objective advisor can bring a unique outside perspective that will bolster the work of your in-house team, help to minimize risks and to ultimately maximize value.

At LGA, we take a holistic approach when it comes to supporting family offices. Our experienced professionals specialize in a wide range of areas and services. We tailor our work to fit your needs.

For more information on family office management, contact our business advisory services department today.