How family offices can manage risk

Investment strategies need to consider trustworthiness, industry knowledge and the family mindset.

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When family businesses are choosing outside family office advisors, they should look beyond qualifications and focus on trust, which takes time to build. For Jim Rai, Group Legal Director of Cascade Global, the key for family offices is to learn what not to do by understanding the mindset of the founders. 

Family Office Investment Director Boguslaw Krysinski notes that family offices can work inside family-owned companies to safeguard investments, as well as help those companies bring in experts so they don’t try to do everything themselves. For example, where families become passionate about particular projects, family offices can help educate them about industries that may be new to them.