Outsourcing dilemma


The choice should fall to the individual family, believe family office directors.

“It’s totally up to wealthy families what they do. It’s their money,” says Lord North Street co-founder William Drake.

He says Lord North Street outsources quite a lot of the services it provides to its clients and is “not pretending to be experts at everything”.

However, a family office does not need to outsource everything, according to Drake. Indeed, some of the richest families might manage their wealth better b