In a recent Chief Investment Officer Market Moves article, Mel Lagomasino, CEO and Managing Partner at WE Family Offices, discusses how family offices must adapt as control passes to the next generation. With one-third of family offices expected to transfer leadership within five years and nearly $124 trillion in assets set to change hands through 2048, succession planning has become immediate and urgent.
Mel emphasizes that generational transitions require professionalization and flexibility in service design. She points to the WE Family Offices model to show that firms need to adapt their role to each family’s needs, whether serving as an outsourced family office or providing specific support such as family governance or an investment committee.
The article also examines how younger generations are changing investment approaches, with increased interest in venture capital and technology startups, as well as the growing role of AI in portfolio evaluation and stress-testing.
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