%0 Journal Article %A Jon Carroll %T The Functions of a Family Office %D 2001 %R 10.3905/jwm.2001.320408 %J The Journal of Wealth Management %P 23-27 %V 4 %N 2 %X Families today face the challenge of keeping family wealth in the family, while continuing the legacy of the wealth creator. Families that successfully share values through generations will preserve and expand the family's wealth. The author believes that the most effective approach for a family of significant wealth to preserve and enhance its wealth through the generations is by the creation of a properly functioning family office. The CIO, CFO, and trustee functions described support the objectives of a wealthy family that wants absolute control over its own affairs, completely customized and personalized service, and privacy. Thoughtfully managed, the family office is the best chance available for a family to successfully share its values and its wealth with succeeding generations. %U https://jwm.pm-research.com/content/iijwealthmgmt/4/2/23.full.pdf