Do family fortunes face a fraught future?

Family offices face as many business challenges as they do investment challenges. While those running the portfolios are looking for ever more niche areas among alternative investments, those overseeing the business are having to decide on business models, on the potential, and potential risks, of opening up to a select wider group of families, or indeed, re-engineering the business as an asset management firm or private bank-type arrangement. Each route naturally brings with it advantages

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