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Investment performance, family control and family harmony - thoughts on successful SFO advice
The International Family Offices Journal
Vol. 5 - Iss. 4 pp. 5–11
Jun 2021
Richard Narva and Simon Sabel focus on the single-family office, in "Investment performance, family control and family harmony - thoughts on successful SFO advice". They begin by noting that a single-family office is by definition a family-controlled enterprise, and as such "Family history, culture and ethnicity, and relationship issues all impact decision making on matters both insignificant and grand". This constant family focus makes it difficult for traditional advisers. To be effective they must understand the particular family culture in each entity. They must also encourage solid governance protocols and dispute resolution mechanisms. They stress that this need by family offices can be met by advisers who have "deep-rooted personal professionalism and independence; technical excellence with a safe compass to navigate between the spheres; and courage to seek the light".