New book underlines the importance of the family office sector

The growing importance of family offices in the world’s economy and their interactions are emphasized in a new book that aims to be the definitive desk reference for the sector. 

Entitled: The Family Office: A Comprehensive Guide for Advisers, Practitioners, and Students, the 350-plus page book is written by two seasoned professionals – Bill Woodson and Edward Marshall. 

“We see the book as a desk reference on the sector that enables the reader to dip in and out of it depending on their particular needs in respect of the family office world,” says Woodson, a well-known family office professional and head of the strategic advisory and family enterprise services for Boston Private. 

Among his many commitments to the sector, the former Citi and Credit Suisse banker is currently helping Stanford University to develop a new program connected to family offices. 

Co-author Marshall worked with Woodson at Citibank and Boston Private before joining law firm Dentons last year, where he is currently head of the family office and high net worth sector. 

Published by Columbia Business School, the book underlines the importance a top business school attaches to the family office world. Recently, Columbia made family offices a big component of its global family enterprise program. And other top business schools are upping their coverage of family offices. 

The Family Office: A Comprehensive Guide…which has 13 chapters, offers a comprehensive analysis of family offices and looks at why wealthy families create them, what they do, and how to manage them effectively. “It covers not just the what, but the why as well,” says Woodson. 

The authors present their insights through a series of problem-based learning cases that follow a single family’s journey from the time of a significant liquidity event, through the creation, staffing, and management of their family office; and on to its succession. Each case study is supported by detailed background reference material. 

Woodson says the book is proving popular, with the first run already sold out at Amazon and Barnes & Noble.

It has also won accolades from sector heavyweights like Paul Carbone, the president of Pritzker Private Capital. Chicago-based Carbone says the book is essential reading for anyone looking to better understand the increasingly important world of family offices.