The Family Office: A Comprehensive Guide for Advisers, Practitioners, and Students (Heilbrunn Center for Graham & Dodd Investing Series)

I've been a long-time student of family business and I found this book on family office management to be very interesting. My family office would be in the high 5 figures in terms of total assets, instead of the 10-figure plus that the book is intended for, but was impressed at the systematic way the subject of a family office and it's challenges and differences from a typical operating company were presented. Great model for a text book, as it has a fictional vignette, followed by a summary and some key questions to consider. As you progress through the book, you "discover" new areas and challenges, from investments, to IT, to travel management, to property management, and philanthropy. This book covers it all. If I ever have the opportunity to serve or advise a family office, this will be a go-to resource!

I bought this book based upon the reputation of the authors and also curious to what they had to say about private aviation - my specialty. The book gives an overview of all the decisions that need to be made in setting up a single family office following a liquidity event, and that leads into a whole range of topics and issues including how to handle private aviation. The book is well researched and flows well. I think the book could use a few more graphs and visuals where appropriate but overall, a great read for those in this space who want to benchmark their knowledge or newbies like me who are getting to know the vastly important role of the family office within the life of an ultra high net worth family. -David Clark, Integris Aviation Consultancy

The authors balance a healthy amount of data and insight with actual case studies which help apply the information to real life. It's very detailed and thorough. It reads easy too. I like how they outline the Formation of Family Offices before taking me through the Services and Governance. I've read a number of books that speak to Family Office issues in my line of work. This book is excellent.

Nice to see an Ivy League school and its publisher getting into the space with actual family office practitioners/advisers. Excellent book that is unique in its coverage of family offices relative to other books on the subject. Well written and professionally produced.

This is a tremendous resource. I've already recommended it to 4-5 clients, and to my colleagues at the Family Business Consulting Group. The structure evolves, using a case study approach, in an organic, accessible format. The resources are well vetted. I've underlined countless sentences and recommend it strongly to anyone in the Family Office world.Respectfully, Doug Gray, PhD, [email protected]. Author of OKR Leadership; How to Apply Silicon Valley’s Secret Sauce to Your Career, Team or Organization (2019)

This is a thorough and complete examination of the Family Office ecosystem. The case study format makes for an engaging way for the reader to absorb the wide ranging issues facing Family Offices. In an era where human capital, regulatory frameworks, and capital markets are constantly evolving, this book serves as lodestar for Family Office principals and advisers.

Woodson & Marshall are very experienced practitioners, and the book portrays information from an industry expert’s point of you. The book is well-written describing elements that practitioners/students must understand about family offices. Because of the case and question nature of this book, I found it very practical to understand the concepts delivered. Highly recommended, ended up highlighting the whole book.

Authors Marshall and Woodson do a masterful job in creating this comprehensive family office guide covering everything from what to think about in setting up a family office, services offered, in-sourcing/out-sourcing, staffing considerations, compensation incentives, investment management, risk management, entity structures, philanthropy, governance, NexGen education and leadership – and much more. Marshall and Woodson provide much of the information through a memorable family office case study and offer key questions and tips along the way to help the reader consider what to do when along the family office journey. Finally, Marshall and Woodson offer valuable outside third party data and resources as support for their work and resource guides for the reader. Bravo!

With the decline of hedge funds and private equity absolute returns since 2008 institutional wealth management has pivoted back to merchant banking and family office setups. Despite this trend being recognized by institutional asset gathers, very few books explain what single family offices (SFO) and multi-family offices (MFO) are, let alone, how they function.The book does a remarkable job in explaining the back office and mid office considerations which are often overlooked when creating an office. While law firms will teach you the best tax structure and banks will always happily take your money for commission based trading, there is no real book or series of academic texts which chronicle the best practices of family offices. In part, because this knowledge is a trade / family secret. This book is unique because the book offers practical insight from executives who have managed and developed SFO/MFO advisory practices. To date, this is the only book on the market where you can find quantitative case studies and examples in the industry.For emerging managers, the lack of empirical case studies and best practices to adopt can lead to expensive mistakes both for your clients and brand. These mistakes, if compounded can prove to be costly or disastrous for high net worth individuals seeking to protect and grow their capital.Buy the book if you want to understand the industry, buy the book if you are in the industry or want to understand the world of SFO/MFO advisory through the lens of two experienced bankers.