Enhancing Resilience and Governance in Family Offices
Entrepreneur magazine|November 2024
EARLIER, INFORMAL GOVERNANCE MODELS BASED ON FAMILY TIES AND AN ELEMENT OF TRUST WORKED FOR FAMILY OFFICES. THIS HAS CHANGED NOW, AND IT IS NECESSARY TO SET A FORMAL STRUCTURE TO FIX ANY GOVERNANCE GAPS THAT MAY CROP UP
SATYEN PATEL
Enhancing Resilience and Governance in Family Offices

Managing wealth across multiple asset classes and facing complex investment structures and holding patterns to ensure growth and stability for high-net-worth individuals is a huge ask. The complexities have resulted in many high-net-worth individuals leaning on family offices to manage their family's wealth and investments and deal with complex financial markets, changing regulatory norms, and a volatile economic climate. In India, too, following many examples from the US, many high-net-worth families are setting up family offices to manage their wealth.

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