We should be able to price the cost of complexity directly. The family already pays every component. It just never sees them added up.

We should be able to price the cost of complexity directly. The family already pays every component. It just never sees them added up.

The costs may be spread among the family office, the investment funds and the family members themselves. Outside managers, accounting firms, attorneys and other providers may be doing substantial work too. Hiring one of them does not eliminate the office's responsibility to coordinate and oversee that work.

The family should be able to see what it is paying for, where work is being repeated and what responsibilities have actually been taken off its hands.

Read the attached article.