Nora Macaluso is a writer and editor with a background in business and government regulation. Previously a longtime reporter, editor, and newsroom leader at Bloomberg, she now writes about real estate, health, environment, and technology, among other topics.
- Family Office Management
Digital vulnerability is one of the top security issues for wealthy families, with experts seeing an increase in nefarious cyber activity — including hacking, fraud, ransomware, data breaches
Private lending and distressed real estate are shaping up as popular investment choices for family offices in 2024, advisers said. Many families will also continue to hold funds in fixed income and cash as geopolitical and economic concerns keep weighing on markets, they said.
Cybercriminals are becoming more sophisticated in their tactics, and family offices are emerging as prime targets. Yet many offices aren’t taking some simple steps that could help plug security holes, cybersecurity experts say.
Family offices often struggle with recruiting talent. They’re looking for a specialized set of skills and someone who will be with them for the long haul.
- Q & A
Wing, the founder of the family office advisory firm Wingspan Legacy Partners, talks about why governance and succession planning are important for family offices.