How has the family office adviser field changed in the past 10 years?

Prepwise AnswersCategory: Finance CareersHow has the family office adviser field changed in the past 10 years?
Career Dev Staff Staff asked 7 years ago
Career Dev Staff Staff replied 6 years ago

While private banks will deal with financial affairs and wealth management, family offices originated from more of an administrative stance.
Gradually, as the family responsibilities, knowledge, and loyalty increases on the part of a family office adviser, it becomes necessary for any given wealthy individual to entrust a family office advisor with a leading advisory role above that of legal and accountant advisors.

1 Answers
Career Dev Staff Staff answered 6 years ago

While private banks will deal with financial affairs and wealth management, family offices originated from more of an administrative stance.
Gradually, as the family responsibilities, knowledge, and loyalty increases on the part of a family office adviser, it becomes necessary for any given wealthy individual to entrust a family office advisor with a leading advisory role above that of legal and accountant advisors.