Family offices and Succession Planning for the Next Generation, by Andreas Vladimirou

The expansion of the family office sector has increased exponentially since the millennium. Nowadays, wealth is increasing rapidly among some of the world’s richest familiesto the extent that, for many of these families, it makes commercial sense to have their own custom-built family office. An upward trend is expected to continue, as wealth levels keep rising alongwith the demand for related management services. For most family offices, the greatest challenge to overcome is the successful transfer of the family structure to the next generation.