Family Offices are increasingly becoming the wealth management vehicle of choice for the wealthy – with a third of ultra-high-net-worth families reportedly using one. Still, they remain something of an enigma for many people.
My guest in this episode is Carolyn Cole of Cole and Associates, one of North America's leading experts on the subject. She designs custom Family Offices for ultra-high-net-worth families.
Carolyn and I do a deep dive into Family Offices: What are they? Who’s using them and why? How do you know if you need one?
We’ll give you some thoughts to consider if you’re hiring a third-party Family Office or setting one up yourself. We also discuss why some Family Offices succeed and some fail.
Carolyn is warm, generous in sharing her knowledge and super interesting. She comes to this work authentically. She has more than two decades of experience advising enterprising families. She also has the personal experience of marrying into wealth and, as a young mother, attending family office meetings, diaper bag in tow as she learned first-hand the complexities that families experience when managing an enterprise.