How to use this page
Use this page to understand the idea, connect it to asset structuring, and continue into the next relevant ASC learning resource.
Core ideaFramework lensNext step
A family office is a coordinating function.
The name matters less than the function. A family office works when someone can see the complete picture and has the mandate to keep it aligned.
The core function
Investment reporting, philanthropy, lifestyle services and administration are useful. But the foundation is coordination across assets, advisors, structures and family goals.
Common gaps
- Advisors working from different pictures
- Structures not reviewed after family changes
- Heirs not prepared for future roles
- Insurance, trust and investment decisions made separately
- No one responsible for maintaining the complete map