Family Enterprise Risk ManagementFamily Enterprise Risk Management

Ultra-high-net-worth (UHNW) individuals, private businesses and family offices don’t always appreciate the significance of risk management. Risk management for family offices and other family businesses involves the process of identifying, assessing and controlling threats to a family’s capital and assets. These risks can come from various sources, such as financial markets, legal liabilities, accidents, natural disasters, government agencies and even within the family itself. The primary goal is to protect the family’s wealth and ensure its long-term sustainability. While it’s critical to evaluate all areas of risk management, we’ll focus on risk from a legal structure and insurance perspective to understand how these different areas of...