Creating holistic value for family businesses

_“The rising influence of family offices underlines the evolving wealth management and financial advisory services landscape in India. Over the last few years, family offices have secured an integral spot in India’s financial ecosystem, offering specialised services catering to the unique and complex requirements of high-net worth individuals and business families.

A wide range of factors have influenced the growth of family offices in India, including a spike in the ultra-high net worth population, focus on wealth transfer down generations, global nature of assets and the growth of ‘impact investing’, which denotes combining social and environmental goals with financial returns.

By their nature, family offices are uniquely positioned to facilitate all the above asks. Going forward, it is crucial for family offices to keep adapting to the evolving investment landscape, given the changing market conditions and emergence of new asset classes.

This is also intrinsically connected to the ability to hire the right professionals, for which family offices need to show some creativity in developing hiring and retention strategies so as to onboard the right workforce, with the required domain and sectoral knowledge to ensure longevity and success._”