2024 RSM Family Office Operational Excellence report

Evolving tax laws, technology advancements, cybersecurity threats, the ongoing talent shortage—in this environment, resiliency isn’t just a virtue, it’s a necessity. When every decision echoes across the family enterprise with resounding implications, the ongoing pursuit of operational excellence is pivotal to success.

We sought to understand the challenges family offices (FOs) are facing. While maintaining the privacy of 100 leading FOs across varying sizes and maturities, we lift the veil on their operations with insights into the drivers reshaping their strategies to cut costs, save time and realign functions for maximum impact.

A common goal is evident: continuous improvement. There has never been a more critical time to prioritize your operating model.

Top of mind for leading single-family offices

Best-in-class technology dilemma

62%

Sixty-two percent find delivering best-in-class technology in-house to be challenging.

Cybersecurity concerns take center stage

83%

Eighty-three percent identify cyberattacks or data breaches as their biggest operational risk.

Outsourcing as a
game-changer

97%

Ninety-seven percent leveraged external service providers in the past 12 months.