The Ever-Evolving Nature of Family Offices and Where the Opportunity Lies with Avy Stein, Co-Founder and Co-Chairman of Cresset
Family Office World
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Wealth Transfer and the Future of Family Offices
This chapter explores the impending transfer of trillions in wealth from baby boomers to younger generations, emphasizing their distinct preferences for transparency and value alignment with investment advisors. It examines how multifamily offices can adapt by promoting collaboration and direct investments among families, enhancing control and reducing fees. The chapter also discusses the growing emphasis on philanthropy, the importance of governance, and the evolving landscape of the multifamily office industry.
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