The operational structure of a family office, its asset base, who it is intended to serve, and with what investments and services, are all key drivers of costs. For first generation family offices, the client base is relatively small and considerations over the extent of service are based largely on personal preference.
Costs in the average family office are up. Is it possible to retain value while trimming back expenditures through outsourcing and technology? Alison Ebbage takes a look