FAMILY OFFICES -STILL GROWING?

Family Offices have been growing both domestically and internationally for many years now, and we do not see a slow down occurring anytime soon.

In order to establish a Single Family Office, your net worth should be  a minimum of $100MM and we feel that it should even be higher than that (closer to $200MM and above).

A Family Office is a privately held company that is set up to manage the investments of a wealthy family with investable assets of at least $100MM. The main purpose of  a Family Office is to increase the value of the existing assets and eventually transfer the wealth to future generations.

With the significant growth of Family Offices, there is a growing need for high level talent to run and work at these family offices, worldwide.

Additionally, as Family Offices have expanded in number and size, they have become more complex to run effectively. With the occurrence of the Pandemic, security issues became a key issue that was not necessarily being addressed timely and properly.

The Quest Organization immediately reached out to all of our Family Offices at the onset of the pandemic, to make sure that they were addressing potential cybersecurity and ransomware issues, as most of their employees were working at home and on potentially insecure systems.

Additionally, with the growth and complexity of the investments being made, the need for higher levels of talent for investments, accounting and controls, compliance, taxation and overall “best practices”  needed to be addressed.

For over 30 years, The Quest Organization with a staff of CPAs and MBAs, have been providing Executive Search and Advisory Services to Family Offices from a holistic perspective.

We always look to protect our clients and ensure that not only do they have the best available athletes to handle their Family Office affairs, but also that they are using the very best practices to protect their businesses and run them efficiently.