It is not uncommon to find independent family offices being less efficient in meeting the current needs of the families they serve because of the continual changes in technology, government regulations and investment opportunities, as well as a divergence in family members' goals and desires. A family office should be dynamic and evolving - in order to meet the ever-changing needs of the family.
Prosperitas is an advisor to independent family offices helping these offices fine-tune their operations so that they are substantially better able to serve their families. Among our solutions is our Family Office Benchmark Assessment.
As part of the Family Office Benchmarking Assessment or performed on a separate basis Prosperitas has:
• Assisted families in preparation of a “Family Mission Statement”
• Reviewed the current governance structure of family offices
• Designed cost effective information and communication systems that produce more meaningful and timely reports for family office executives and family members
• Developed procedures and controls to help deter fraudulent activities and enhance the security of financial data
• Evaluated various family office processes such as:
• Investment & Cash Management
• Tax/Estate/Financial Planning
• Family Business
• Risk Management
• Non-Financial Asset Management
• Regulatory Compliance
2008