1. Establish clear internal communication
Though the shared history of a family can be an asset to communications – it can also be a hindrance. A key advantage of a family office is its external setup which can provide organisation and structure for a family.
When starting a family office, keep lines of communication clear to ensure that everyone is on the same page. With more stakeholders involved, it becomes more important to structure and organise communication processes for the different circles – board members, shareholders, family members.