The Family Office Sherpa Family Office Purpose - A Practical Guide for Establishing the Family Office Charter
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Jan 19, 2025 Discover the nitty-gritty of establishing a comprehensive family office charter. It dives into essential components like governance structure and objectives. Shaun emphasizes the importance of clear roles and responsibilities to ensure alignment with long-term family goals. Practical examples make the process relatable, offering insights for anyone looking to refine their purpose documents. This guide is a must-listen for families wanting a strategic approach to their financial management.
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Start with the Charter
- Start with a family office charter before establishing the office itself.
- Creating a charter clarifies the office's purpose and can even dissuade some from forming one.
Seek External Help
- Get external help when creating a family office charter.
- Doing it yourself can be challenging, and an outside specialist can articulate your family’s needs effectively.
Living Document
- Make your family office charter a meaningful, practical, and living document.
- It should be adaptable to your family's evolving needs and regularly reviewed.