At the third annual Creating An Excep-tional Family Office conference in Boston at the end of September, I had the privilege of moderating discussions with a number of top industry practitioners and trusted advisors to the ultra-affluent. Attendees got the benefit of hearing first-hand a range of insightful stories that helped clarify what it takes to earn and keep the business of the financial elite, along with some advice about how to navigate the complexities associated with delivering a family office experience to clients. I’ve selected some of the most useful and enlightening comments to share with the readers of Private Wealth.
Gemma Leddy, partner at O’Connor Davies and head of its family office practice
“The size and intricacy of single-family office relationships means that there are a lot of moving parts and a lot of opportunities for things to fall through the cracks. We conduct a financial and operational audit for all new clients and, without exception, have uncovered problems the principals were previously unaware of.”