Attempts by the next generation to change the investment stance of family offices in Europe and Asia frequently end in frustration, according to a survey conducted by Credit Suisse.
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One response to “Established family offices see little reason to align their interest with the next generation”
This data offers a deep challenge to families and the future of family offices. The rising generation is the future and they will eventually become the owners. The longer that family offices delay this conversation and planning for the future, the more chance they have of running into significant conflict. Of course the older generation and their strategy have precedence, but finding ways to allow for some rising generation input, new ideas, and engagement is part of what a family is all about. Its not a binary, either/or choice, but an evolution and many families will find the silence of their heirs comes from their tacit unwillingness to listen and engage them.