The Family Office Sherpa Family Office Advice - Where Will the Next "System" of Family Office Advice Come From?
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Mar 3, 2025 Explore the future of family office advisory services. Discover the industry's potential 'Netflix Moment' as traditional models face disruption. Shaun dives into innovative frameworks and specialized roles needed to adapt to modern challenges. The episode also highlights the crucial balance of control, incentives, and governance in family office management. It's a fascinating look at how wealth management may evolve to better serve unique client needs.
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Evolving Family Office Advice Landscape
- The current family office advice model is being challenged by rapid industry growth and diverse client needs.
- Existing service providers rely on traditional systems despite the unique nature of family office clients.
The "Netflix Moment" for Family Office Advice
- Shaun Parkin questions what the "Netflix moment" for family office advice will be, similar to Netflix's shift from DVDs to streaming.
- He emphasizes the need to identify what current advice models are missing and how they can be improved.
Family Office Involvement in Shaping New Models
- Shaun Parkin suggests family offices actively participate in shaping new advice models by providing feedback and collaborating with advisors.
- He emphasizes the importance of aligning advice models with the specific needs and goals of family offices.