EXCELSIOR CAPITAL PRESENTS

Key Characteristics of High-Performing Family Offices

Are family offices becoming more popular? In this episode, Robert Daugherty dives into the importance of having a functional family office, and the role of the Chief Learning Officer in it.
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Podcast: Key Characteristics of High-Performing Family Offices

Are family offices becoming more popular? In this episode, Robert Daugherty dives into the importance of having a functional family office, and the role of the Chief Learning Officer in it. He breaks down the complexities of family offices today – from generational wealth transfer to the need for communication and understanding within families – as well as working with trusted advisors and navigating the blurred line between philanthropy and investing. Tune in to learn more about getting the most out of your own family office venture!

Robert C. Daugherty served as the Dean of the Forbes School of Business and Technology and is a Professor of Strategy and Finance. Having served on over two dozen corporate boards, he regularly advises private equity firms, institutional investors, and family offices on mergers and acquisitions, and corporate governance. He writes a regular column for Forbes China on investing and leadership.

Key Highlights

[00:01 – 06:21] Opening Segment

  • How to build a high-performing family office
  • Metrics for a high-performing family office
  • The recent trend of proliferation of single-family offices and multi-family offices
  • Wealth creation is driven by technology and innovation

[06:22 – 12:58] Finding the Right Talent for Your Family Office

  • Best practices for compensation, hiring, and firing
  • The importance of having a clear understanding of their purpose and mission
  • Why the qualitative emotional relationship is a chore characteristic
  • Family offices are now hiring Chief Learning Officers

[12:59 – 19:31] Uncovering the Challenges of Family Offices

  • How to thrive across generations
  • Having the right team around you is essential for first-generation wealth creators
  • Self-awareness is an important skill for successful family offices.
  • The biggest challenge facing family offices today

[19:32 – 25:55] Challenges and Opportunities for Family Offices

  • Family offices require a different approach than traditional high-net-worth clients
  • Leadership transition can be difficult for families who haven’t done the work early on
  • Generational wealth transfer is occurring now and can be challenging for families
  • Communication is critical in successful generational transitions

[25:56 – 31:14] Closing Segment

  • Philanthropy and investing are becoming increasingly blurred
  • How families deploy capital

Additional Links:

Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/

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