There has been a dramatic raise in the activities of family offices across the globe since the beginning of the global financial crisis. These family offices are the entities formed to deal particularly with a family’s portfolio of investment, along with ensuring that they could sustain the wealth creation activities for their next generations. The wealth of the 50 largest family offices accounts for around $1 trillion. The trend of the family businesses looks set to continue because these businesses are keen to keep an eye directly on their valuable assets.
In order to have a deeper look of activities in this emerging field, the authors explored the reasons of formation and development of these families’ offices by analyzing family business cases from the U.S. and Spain. This analysis concluded with the results that it always needs the alignment between the family vision with an entrepreneurial strategy to accomplish the success. The results also suggest the utilization of effective systems, structures, and processes, and specifically the behavior and attitude of entrepreneurs.
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