A guide to sustainable networking and relationships within family offices
Most family offices can agree that networking is an integral part of their business, something that opens doors to many opportunities. Despite this, many family offices still don’t seem to invest in developing proper networks. What should family offices look for when networking and what are the benefits of a sustainable network?

What you need to know

  • Sustainable networks are hugely important for family offices.
  • Despite this understanding, many family offices don’t invest the time to develop these sustainable networks.
  • Many family offices rely on referrals from the existing community of peers around them who share similar objectives and practices. While this instills trust and confidence amongst investors, it can lead to a homogenous group who all think and work in the same way.
  • The real benefit of networking lies in finding people who are inherently different, as they bring with them an alternate view, opinion and way of doing things. They can also guide the family office through unfamiliar economic landscapes. They can provide fresh inspiration and ideas.
  • This can be especially helpful in emerging markets, where there is new wealth and little experience in next generation and wealth transfer.
Foresight Published on Simple June 8, 2021

Most family offices can agree that networking is an integral part of their work. Few people would claim they don’t take up opportunities to network when they present themselves. Additionally, most people would confirm that a strong network is beneficial to conducting business.

Networking is not only crucial to many family-owned businesses and family offices, it can also open doors to numerous great opportunities. Why is it, then, that so many family offices and family businesses don’t invest the time and discipline required to do networking properly? Why is there such a discrepancy between the perceived importance of networking and the actual efforts put into it?

Sustainable networks start outside of the comfort zone

Single family offices or more generally, investors, often maintain networks of peers that have shared interests. They share similar investment objectives, operate in the same industry and their principles have personal relationships that trace back to school, university or work. If these family offices or investors seek to expand their network of peers in which they operate, they often do this by asking for referrals from their existing network.

About the Authors

David Grammig

David Grammig

Reputation management & events

Parallel to being Partner for International Relations at a Kuwaiti Single-family office

Connect with David Grammig

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