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  Håkan Hillerström, family business advisory services
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family office

frequently asked questions

  • We are planning to sell our family company for strategic reasons, and subsequent to this, could also contemplate the establishment of a family office. What are the issues we need to reflect upon when embarking on this process?
  • Rather than set up our own family office could we join an existing family office? And if so, what would the advantages and disadvantages be of this approach?
  • Some banks have family office services. What are the pros and cons of using these services instead of setting up our own family office?
  • We are planning to improve our governance system for our family office. What are the key issues we need to take into account?
  • Our family has had its own family office for a long time and there is strong peer pressure for all of us stick together. However, I am more interested in doing my own thing, and would like to leave our existing structure. What do you recommend me to do?
  • We have had a family office for 12 years, but with no proper family governance rules in place. How do you best create these rules and what process do you recommend that we use?
  • We have not yet established a board for our family office. What are the advantages and disadvantages of a board, and how many non-family directors should we have?
  • We have had difficulties hiring the right staff for our family office. We have also encountered problems creating the right compensation package for our 2-3 top people. What is best practice today?
  • We offer too many services through our family office and need to reduce costs. How do we best go about selecting the right outsourcing partners?
  • We are planning to set up a family office and need advice selecting a proper IT system. Who do we ask?
  • We are planning to establish a family office and need some guidance regarding the overall costs and budgetary planning for a family office. Are there any guidelines?
  • On the point of establishing a new family office, we are planning to set up a committee for our investment strategy and asset allocation. Should we put this in place on our own, or outsource this service?
  • We have had our family office now for seven years, but we still do not have a proper risk management system in place. What steps do we need to take to put such a system in place?
  • A member of our family recently learned that some family offices are making due diligence checks of their family office operations, including a gap analysis. Could you please explain what this is?

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