{ "item_title" : "The Family Office Professional", "item_author" : [" Julian R. Sterling "], "item_description" : "At what level of wealth does a single-family office pay for itself? On the figures in this book, a fully staffed five-person office costs 2,442,000 a year, and the crossover with a multi-family office falls at 567 million.The family office is one of the most interesting and least understood institutions in finance. It serves one family, or a few, and manages their whole situation: the portfolio, the structures, the reporting, the risks, the philanthropy and the next generation. This guide explains how single-family and multi-family offices are organized, how they invest and operate, and what they ask of the professionals who work in them.Who this book is forFinance and investment professionals considering a move into the family office worldPeople already working in an office who want a broader map of the territoryMembers of a family building or refining its own officeAdvisers, bankers and managers who serve family officesThe cost question, answered with numbersThe same office costs 244 basis points of a 100 million fortune and 12 of a 2 billion one.At 250 million it costs 98 basis points against 56 for a multi-family office; at 1 billion, 24 against 35.Framed as a hurdle, the single-family office must outperform by 42 basis points a year at 250 million, but only 3 at 500 million.A family building at 300 million is paying about 870,000 a year for control, confidentiality and continuity. That may be excellent value. It is a different decision from believing the office costs nothing.What the book coversWhat a family office is and why it exists; single-family and multi-family offices; the roles inside; investing the family's capital; manager selection, direct deals and alternatives; governance; structuring, estate planning and tax; risk and preservation; reporting, consolidation and technology; philanthropy and impact; the next generation; family dynamics; operations and coordinating advisers; building a career in this world.Tools includedKey questions to understand any office, a glossary of key terms, a checklist of family office functions, and a self-assessment for anyone weighing this career.Part of The Private Markets Career Guides. Read next: The Private Wealth Fundraiser, The Co-Investment Practitioner, The Private Markets Limited Partner.Educational content. All examples are fictional; not investment, tax or legal advice.", "item_img_path" : "https://covers2.booksamillion.com/covers/bam/9/79/819/001/9798190013245_b.jpg", "price_data" : { "retail_price" : "24.99", "online_price" : "24.99", "our_price" : "24.99", "club_price" : "24.99", "savings_pct" : "0", "savings_amt" : "0.00", "club_savings_pct" : "0", "club_savings_amt" : "0.00", "discount_pct" : "10", "store_price" : "" } }

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