Most family offices believe they are preparing the next generation. The evidence suggests they are doing something considerably more modest: including heirs in governance without equipping them to participate in it. The distinction matters because presence and preparation are not the same thing, and the gap between them is where succession risk accumulates.
Family offices take measuring investment performance seriously. From benchmarks to fee tracking, the infrastructure for investment measurement is continuous, detailed, and increasingly automated. Apply that same question to governance — how effective is your board, your family council, your oversight function? — and the answer is different. The structures may exist, but the measurement often does not.
Switzerland remains one of the world’s leading centres for private wealth. At the end of 2024, banks in Switzerland managed CHF 9.3 trillion in assets, according to the Swiss Bankers Association. In parallel, Switzerland’s asset management industry oversaw CHF 3.45 trillion in fund assets during the same period, as reported by the Asset Management Association Switzerland. While institutionally focused, these fund structures ultimately feed into private wealth portfolios and illustrate the scale of capital moving through the Swiss financial system.

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