Passing the Baton: Advising on Family Succession Planning
Family offices behave completely differently than institutional investors, and this brings unique challenges to dealing with them and in particular with respect to succession planning.
It is illustrative to begin by describing institutional investor behavior. If you are a pension fund trustee, a finance committee member of a charity or a director of an endowment oversight board, your role in looking after the investment funds is in practice quite constrained by the fiduciary and regulatory obligations you will have.
This article is based on a guest speaker talk given at Berkeley Research Group by Konstantin Graf von Schweinitz, a nonexecutive director and advisor to family offices, private equity companies, hedge funds and banks. He writes in a personal capacity.