Families and individuals with the good fortune of having great wealth are well aware of the extraordinary opportunities that such wealth can bring: multiple homes, extensive travel, recreation, and social activities. Along with the increased opportunities are increased complexities and day-to-day responsibilities of managing one’s own assets and financial affairs. There is a vital need for professional management of individuals’ and families’ financial affairs in order to achieve a wealthy individual’s desired objectives.
Many wealthy individuals do not have the time to properly manage their broad range of resources because of their substantial business, philanthropic, and family commitments. Even individuals who successfully manage their own financial affairs may have concerns about continuity of financial management in the event of their own illness or death, since others in the family may not possess the specific skills to effectively take over the spectrum of management responsibilities.
As a long-term venture, the family office must develop appropriate risk management processes to help steward the office through changing conditions. These procedures need to encompass both operational level risk as well as strategic risk. Risks evolve over time, particularly when personnel change, in the light of changing market conditions, and changing family priorities, and the family office must adapt to that change while maintaining the overall focus on stewardship.
Many Family Offices are now investing in real estate, private equity and making direct investments in operating companies. We have worked with family offices in these investment areas for years, and understand the risks as well as the upside to such investment choices. In addition to traditional family office support services, we provide a full range of services to support your investment in alternative structures.
Since CCA serves family offices as well as private equity funds and real estate investors, we can provide a single source of insight into trends and risks across industries and investment vehicles.
Your family’s circumstances and priorities are unique, and CCA applies state of the art business processes and concepts to tailor innovative strategies for managing your family’s particular resources to achieve all your needs and goals.
