What is governance in a family office
Governance in a family office refers to the system of rules, practices, and processes by which the office is directed and controlled. It ensures that the family office operates efficiently, aligns with the family’s values and objectives, and manages risks effectively.
Key components of family office governance
Key components of governance in a family office include establishing a clear organizational structure, defining roles and responsibilities, implementing decision-making protocols, and ensuring compliance with legal and regulatory requirements. Effective governance also involves regular communication and reporting to family members and stakeholders.
