Kirby Rosplock - The Complete Family Office Handbook: A Guide for Affluent Families and the Advisors Who Serve Them

1. Chapter 1
2. Chapter 9
3. Chapter 11

1. Chapter 1
2. Chapter 2
3. Chapter 3
4. Chapter 4
5. Chapter 5
6. Chapter 6
7. Chapter 7
8. Chapter 8
9. Chapter 9
10. Chapter 10
11. Chapter 11
12. Chapter 12
13. Chapter 13
14. Chapter 14
15. Chapter 15

This second edition handbook by Dr. Kirby Rosplock is a true gift to our family wealth community. Before her first edition, there was hardly any book we could recommend to those searching for answers. With the advent of this new benchmark, private families and their advisors searching for an integrated guide on family offices need look no further. I continue to highly recommend this thoughtful resource, as private families deserve more clarity and guidance.

Thomas R. Livergood, CEO, The Family Wealth Alliance; Founder, Bespoke Advocate

Few institutions are changing as fast as family offices. As the global community is transformed and as enterprising families want to do more than shelter their wealth, their concerns for the future lead them to gather and define multiple financial and non-financial activities they want to pursue. The first edition was a treasure of information but in response to the vast changes taking place every day, a second edition adds even greater value by sniffing out the vast shifts that are occurring. This new edition is actually a new piece of work that should take its place beside the first edition as a more current view of practices that are more than just reactions to global change; they are defining the nature of the new global community that is continually being remade.

Dennis Jaffe, PhD, consultant; advisor; author, Borrowed from Your Grandchildren: The Evolution of 100-Year Family Enterprises; Cross Cultures: How Global Families Negotiate Change Across Generations; Stewardship in Your Family Enterprise: Developing Responsible Family Leadership Across Generations; and Working with the Ones You Love: Conflict Resolution & Problem Solving Strategies for a Successful Business

The Complete Family Office Handbook provides readers with tactical guidance, serving as a how-to both for families looking into creating an office as well as those evaluating the wealth management structures they have in place. Kirby's willingness to go into detail and her use of case examples demonstrate that while every family office is unique, the factors that go into operational decisions tend to have similarities across different families.

Rebekah L. Kohmescher, CFP, CPA, CEO, Altair Advisers, LLC

If you are one of the many executives and family members who bought The Complete Family Office Handbook upon my insistence, head back out and get this second edition, as it is probably time to reexamine how your office has (or hasn't) evolved with the family. For those looking to build a new office, this second edition is even more powerful than the first. With expanded content, sharper insights, and more robust examples, it sets the nuanced context, which family members and executives alike need, to make wise decisions capable of aligning the office and the family.

Jim Coutr, family office and philanthropy professional

Kirby Rosplock has written a book that will become an essential reference for families wishing to establish a long-term strategy for building an enduring legacy across generations. It helps to unwrap the mysteries of the family office and provides an invaluable guide, containing a wealth of cutting-edge information and insights. It is a comprehensive toolkit for any family embarking on the journey of establishing a family office and for executives who operateor aspire to operatewithin a family office.

Dominic Samuelson, CEO, Campden Wealth

With thoughtfulness and clarity, Kirby Rosplock has brought to life the important questions to ask and steps to follow in creating and effectively governing a family office. Wealth owners, and their advisors, will gain insight into why long-term success depends on the ability to clarify shared values, vision, and purpose, at each generation, and how to dive into those challenging conversations.

Anne Hargrave, consultant and coach to organizations, family businesses, and families of wealth

A comprehensive body of work that serves as an immediately useful tool to help families through the uncharted waters of family office formation and operation. As families struggle to find meaning beyond financial wealth, Dr. Rosplock's book addresses the business, family, and philanthropic legacy that family offices can provide. The second edition of The Complete Family Office Handbook will be an indispensable tool sitting on the top shelf of your desk. Immensely helpful.

Preston Root, Root Glass Company

My 2014 copy is full of Post-it notes. The Complete Family Office Handbook is current, independent, comprehensive, and compelling. Rosplock's second edition has distilled the wisdom and guidance of all the major experts in the family office world and made it easy to read. I feel comfortable handing this book to CIOs and nonfinancial people alike. She summarizes big issues with great aplomb and catches the important details. A definitive handbook.

Joseph Reilly, family office consultant

SECOND EDITION

Kirby Rosplock, PhD

Copyright 2021 by Kirby Rosplock. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.

This book is the second edition and presents research and insights of the family office marketplace gleaned from working independently with clients and families. Not all information and experiences herein may apply, and the views and professional opinions and experiences of the authors and contributors, individuals and family office advisors, should use these opinions and experiences as guideposts and not as hard and fast rules. There are many exceptions to the cases and advisement presented in this book, and each family should work with their team of qualified experts, accountants, and legal advisors to determine the best course of action(s) appropriate to their specific situation(s).

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at www.wiley.com/go/permissions.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.