Starting a Nano Family Office:

The Simple Approach

In the world of finance, the term “Family Office” can be a bit mysterious, but it doesn’t have to be. In straightforward terms, a Family Office is like your Family’s financial quarterback. It’s a structure that acts as an asset management business, working exclusively for your Family’s unique needs and goals. 

Think of it as your very own financial headquarters.

Regulation

Surprisingly, the term “Family Office” is often unregulated in many parts of the world, including Canada and the United States. 

Why?

Well, while I don’t have all the answers, my guess is because every Family is as unique as the next. 

There’s no one-size-fits-all framework to describe how all families function financially. Instead, several flexible frameworks deal with specific aspects of family offices.

These usually revolve around:

• The Family (Governance, Risk Management/ Contingencies) 

• Family Enterprise (Operating Businesses/ Corp Structures)

• Estate Planning (Succession Planning)

While there are more, stop here. This is all YOU need to know. 

Starting a Nano Family Office: The Simple Approach

How can you start your own Nano Family Office? 

Please don’t listen to the naysayers who would make you believe it is only a framework available to the Ultra High Net Worth Family and above. Really, folks, it comes down to your mindset, first and foremost.

Want to know why the barrier to entry is always touted as in the hundreds of millions?

Here are the reasons I have discovered, ready?