The Critical Importance of Having the Proper Legal Structures in Place in Order for a Family Office to Endure for Multiple Generations with Tom Handler, Founder and Managing Partner of Handler Thayer, LLC.
Family Office World
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Dodd-Frank and Fatke: How Many Family Offices Are in Compliance?
We were asked a couple of years ago, shortly after Dodd-Frank and then Fatke kicked in about how many of the family offices we work with are in compliance with these various laws. And our guesstimate was about 40%. We subsequently talked to two other firms involved in the space and their estimate was over 50%. So if we are correct, it appears the level of non-compliant is relatively high. It's wishful thinking on the part of the families hoping well this can't possibly apply to us when unfortunately it sometimes does.
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