Risks can’t always be avoided – but with the right strategy, they can be mitigated.
In a modern context, family offices are exposed to danger on a number of fronts. Gone are the days when risk could be contained to financial stability and investment prospectuses; today, wealth owners and their families are susceptible to not only the same financial risks as their forebears, but further risks to their reputation, physical security, online presence, and more.
To wholly become a master of every discipline of risk mitigation and management is likely an impossible task – but for family offices seeking to modernise their operations and future-proof the safety of the next generation, having at least an understanding of the changing landscape of risk is a necessity.
Step One: Understanding The Changing Risk Landscape
A recent webinar on family office risk illustrated that the only true constant is change. Family offices must adapt to a rapidly evolving risk environment. Today’s world is marked by not only geopolitical shifts, but further technological advancements, and increased mobility – all of which introduce new vulnerabilities.
The first stop for many family offices…
