Finding the right advisor for your family office is still one of the most difficult issues wealthy families must address, according to a family wealth expert.
"One of the toughest issues for wealthy families is to identify trusted advisors that can support them through the myriad of issues they will face – financially, personally, philanthropically and with their families," said Randy Ottinger, author of Beyond success: building a personal, financial and philanthropic legacy.
This difficulty for families was the impetus behind the launch of a new service, SFO Advisor Select, to help families assess and retain top family office talent.
The new initiative is headed by Elizabeth Mathieu, Natasha Pearl and Philip Strassler, who between them have over 60 years of experience in the family wealth and single family office sphere. Ottinger said: "There is nothing more important than the human talent selection made by SFO principals who are entrusted with these crucial decisions."
The firm will offer a systematic approach to aid the evaluation process and help with in-depth due diligence when choosing a family office professional. They offer advice in a range of practice areas including investment consultants, accountants, lawyers, banks, custodians, family governance consultants and art valuation consultants.
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