Wealth Insight

Challenges that Asian Families Face in Developing a Full-Service Family Office


The majority of Asia family offices are more focused on helping the family grow its financial investment and not thinking or working broadly enough to develop the other critical functions, such as governance, setting the long-term goals and vision of the family, or other initiatives to strengthen the family legacy. In the long run, the objective of the family office becomes limited to only growing the wealth. While this is a key component of the family office, families that are solely focused on managing wealth through the family office then lack clarity and direction in dealing with the bigger question of the purpose of that wealth - be it for the benefit to society or to expand the family business.

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