Building a Legacy: Family Office Wealth Management
- Dates: TBD
- Format: In-Person Learning takes place on the HBS campus or a designated location.
- Location: HBS Campus
- Fee: TBD

"We want to create a safe learning space where families in similar circumstances can speak openly."

"These are long-term relationships that you can keep going back to throughout your career."
Summary
Wealth management for high-net-worth families has grown increasingly complex. For some families, the responsibility of wealth management has shifted to younger generations who have less experience investing. For other families, the early liquidation of businesses has created uncertainty for mid-career professionals who face new investments or major life decisions. In this program, you will gain an in-depth understanding of best practices in family wealth management; explore the governance, structure, and investment challenges that are unique to families; and discover new approaches for managing and preserving family wealth.
You may also be interested in the related program: Family Office Wealth Management—Virtual.
DetailsExpand AllCollapse All
Gain insights to build a professional family officeGain insights to build a professional family office
- Establish the right structure, governance, and organizational design for a family office
- Make savvier financial decisions based on a deeper understanding of family wealth management
- Set clear goals that reflect the family's priorities and principles
Find solutions to your wealth management challengesFind solutions to your wealth management challenges
- Develop an action plan for initiating an intergenerational transfer
- Implement best practices for separating operating assets and family office assets
- Make key hires or use outsourcing to address skills gaps
Explore the full range of investment opportunitiesExplore the full range of investment opportunities
- Apply frameworks for evaluating unique investment opportunities for family real estate, niche assets, emerging markets, public market ideas, and startup/venture-backed investments
- Determine whether (and how) to pursue opportunities in private equity
- Stay informed about investing in frontier asset classes
Analyze philanthropic opportunities and partnershipsAnalyze philanthropic opportunities and partnerships
- Evaluate philanthropic pursuits and partnership opportunities
- Consider the pros and cons of strategies such as impact investing
- Discover other ways of investing for impact, such as via endowment models
Expand your personal and professional networkExpand your personal and professional network
- Extend your network by living and working with accomplished executives from various backgrounds, industries, and countries around the globe
- Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions
Gain insights to build a professional family office
- Establish the right structure, governance, and organizational design for a family office
- Make savvier financial decisions based on a deeper understanding of family wealth management
- Set clear goals that reflect the family's priorities and principles
Find solutions to your wealth management challenges
- Develop an action plan for initiating an intergenerational transfer
- Implement best practices for separating operating assets and family office assets
- Make key hires or use outsourcing to address skills gaps
Explore the full range of investment opportunities
- Apply frameworks for evaluating unique investment opportunities for family real estate, niche assets, emerging markets, public market ideas, and startup/venture-backed investments
- Determine whether (and how) to pursue opportunities in private equity
- Stay informed about investing in frontier asset classes
Analyze philanthropic opportunities and partnerships
- Evaluate philanthropic pursuits and partnership opportunities
- Consider the pros and cons of strategies such as impact investing
- Discover other ways of investing for impact, such as via endowment models
Expand your personal and professional network
- Extend your network by living and working with accomplished executives from various backgrounds, industries, and countries around the globe
- Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions
Who Should Attend
- Executives from a family office or wealth management office
- Family business owners, beneficial owners, and other family members, including children of the business leaders and their spouses/partners
- Particularly appropriate for chief investment officers, chief executive officers, investment managers, or top family business leaders
- Also appropriate for family members with a range of financial acumen—from expert to novice
- Not appropriate for investors who are not representing a family's interests
Attendance by multiple company representatives or family members is encouraged but not required.
Chief executives and family members involved in the company and looking to expand business strengths and strategies are encouraged to explore our program, Families in Business.

Program for Leadership Development participants earn 3 PLDA Points on completion of this program.
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Who Should Attend
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- Executives from a family office or wealth management office
- Family business owners, beneficial owners, and other family members, including children of the business leaders and their spouses/partners
- Particularly appropriate for chief investment officers, chief executive officers, investment managers, or top family business leaders
- Also appropriate for family members with a range of financial acumen—from expert to novice
- Not appropriate for investors who are not representing a family's interests
Attendance by multiple company representatives or family members is encouraged but not required.
Chief executives and family members involved in the company and looking to expand business strengths and strategies are encouraged to explore our program, Families in Business.
Program for Leadership Development participants earn 3 PLDA Points on completion of this program.
Learning and Living at HBS
When you participate in an Executive Education program on the HBS campus, you enter an immersive experience where every aspect of the learning model has been carefully designed to facilitate your growth. Your learning will take place on your own, in your living group, and in the larger classroom, driven by the renowned HBS case method.
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Learning and Living at HBS
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When you participate in an Executive Education program on the HBS campus, you enter an immersive experience where every aspect of the learning model has been carefully designed to facilitate your growth. Your learning will take place on your own, in your living group, and in the larger classroom, driven by the renowned HBS case method.
Admissions Criteria and Process
Answering Your Questions
Application Submission
Application Review
Fee, Payment, and Cancellations
Answering Your Questions
Application Submission
Application Review
Fee, Payment, and Cancellations
What You Will Learn
Your rich learning experience will include faculty presentations, case studies, and small-group discussions. To broaden your global perspective, the program will cover cases about established family offices around the world.
Participants should expect to spend at least 9-12 hours on self-paced case preparation prior to attending the program. Case materials will be made available approximately two weeks prior to program start.
Key TopicsExpand AllCollapse All
Family wealth goals and structure Family wealth goals and structure
- Setting goals for wealth preservation, wealth maximization, and foundations
- Managing intergenerational wealth transfers in business families
- Balancing the spending and investment needs of the family
- Hiring in-house experts or teams versus outsourcing wealth management
- Optimizing governance, structures, and organizational design
Family office portfolio management Family office portfolio management
- Exploring applications of modern asset allocation, portfolio management, and the "endowment model" of investing
- Managing life and investments after a liquidity event
- Applying family preferences and social goals in an investment strategy
- Managing risk and integrating a more professional approach
- Preparing for the role of future generations in family wealth management
Family office investment opportunities and strategiesFamily office investment opportunities and strategies
- Building a toolkit and framework for analyzing a range of investment strategies, including direct investments, indirect investments, and unique investment opportunities
- Understanding the sources of risk in value investing
- Evaluating direct private investments, private equity, venture capital, and frontier asset classes
- Managing headline risk and privacy
Impact investing and partnershipsImpact investing and partnerships
- Identifying the best partners to engage with and partners to avoid
- Exploring the pitfalls and advantages of government partnerships
- Measuring impact and performance in philanthropy and impact investing
Family wealth goals and structure
- Setting goals for wealth preservation, wealth maximization, and foundations
- Managing intergenerational wealth transfers in business families
- Balancing the spending and investment needs of the family
- Hiring in-house experts or teams versus outsourcing wealth management
- Optimizing governance, structures, and organizational design
Family office portfolio management
- Exploring applications of modern asset allocation, portfolio management, and the "endowment model" of investing
- Managing life and investments after a liquidity event
- Applying family preferences and social goals in an investment strategy
- Managing risk and integrating a more professional approach
- Preparing for the role of future generations in family wealth management
Family office investment opportunities and strategies
- Building a toolkit and framework for analyzing a range of investment strategies, including direct investments, indirect investments, and unique investment opportunities
- Understanding the sources of risk in value investing
- Evaluating direct private investments, private equity, venture capital, and frontier asset classes
- Managing headline risk and privacy
Impact investing and partnerships
- Identifying the best partners to engage with and partners to avoid
- Exploring the pitfalls and advantages of government partnerships
- Measuring impact and performance in philanthropy and impact investing
The HBS Advantage
Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe.
L.E. Simmons Professor of Business Administration
Senior Lecturer of Business Administration
Jacob H. Schiff Professor of Investment Banking
Senior Lecturer of Business Administration
George E. Bates Professor of Business Administration
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The HBS Advantage
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Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe.
Faculty CochairsL.E. Simmons Professor of Business Administration
HBS Units:Entrepreneurial ManagementFinanceSenior Lecturer of Business Administration
HBS Unit:Technology and Operations ManagementFacultyJacob H. Schiff Professor of Investment Banking
HBS Units:Entrepreneurial ManagementFinanceSenior Lecturer of Business Administration
HBS Units:Entrepreneurial ManagementFinanceGeorge E. Bates Professor of Business Administration
HBS Unit:Finance
Your Peers Expand Your Learning
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Your Peers Expand Your Learning
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Global PerspectiveExperience the world in your classroom.Global PerspectiveExperience the world in your classroom.2%Africa15%Asia Pacific15%Europe27%Latin America4%Middle East37%North America2%Africa15%Asia Pacific15%Europe27%Latin America4%Middle East37%North AmericaExperienceExperienceYears workedYears workedExperienceYears workedLess than 10 yearsLess than 10 years10-14 years10-14 years15-19 years15-19 years20-24 years20-24 years25-29 years25-29 years30-34 years30-34 years35-39 years35-39 years40 years or more40 years or moreLess than 10 yearsLess than 10 years10-14 years10-14 years15-19 years15-19 years20-24 years20-24 years25-29 years25-29 years30-34 years30-34 years35-39 years35-39 years40 years or more40 years or more

"We want to create a safe learning space where families in similar circumstances can speak openly."
