What Is a Family Office—and Do You Need One? - Ep 2

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In this episode of the Family Capital Podcast, Jared Machen and Justin Brownlee unpack what a family office is, when creating one might make sense, and what families at every level of wealth can learn from J.P. Morgan’s 2026 Global Family Office Report. They explore how some of the world’s wealthiest families allocate investments, manage risk, structure their family offices, and approach wealth preservation. But the biggest takeaway goes beyond investment returns: successful multigenerational wealth requires families to prioritize values, governance, legacy, and preparing the next generation—not simply managing financial assets.

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Takeaways:

• A family office serves as a dedicated entity to manage and preserve family wealth through strategic financial planning and investment management.
• The structure and strategy of family offices can vary significantly, with no universally accepted model or approach to their formation.
• The decision to establish a family office should be carefully considered, as it involves substantial resources and may not be necessary for all families.
• Effective wealth preservation requires a focus on governance, family values, and legacy planning beyond mere financial management and investment returns.
• The majority of family offices surveyed are relatively young, indicating that many families are still learning how to navigate this complex landscape.
• Asset allocation trends among family offices reveal a heavy reliance on public equities, highlighting the importance of these investments in wealth management.

Chapters:

• 00:10 - Introduction to Family Offices

• 00:59 - Understanding Family Offices: An Overview

• 13:28 - The Importance of Family Offices in Wealth Management

• 19:39 - The New Landscape of Family Offices

• 25:32 - Understanding Family Office Risks and Allocation Strategies

• 36:26 - Transitioning Focus: Family Values and Wealth Preservation

• 38:56 - Understanding Family Office Structures and Staffing

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Resources:

‍Disclosure: This information is for informational purposes only. Nothing discussed during this video should be interpreted as tax, legal, or investment advice. If you have questions pertaining to your specific situation, please consult the appropriate qualified professional.