The Rise of Family Office Programs at Top Universities
In recent years, top universities have been tapping into the growing demand for family office programs, offering a range of courses and research initiatives aimed at training the next generation of family office leaders.
A Growing Industry
The family office industry has experienced significant growth in recent years, with the number of family offices increasing from 6,000 in 2019 to over 8,000 today. This growth is expected to continue, with assets under management projected to reach $5.4 trillion by 2030.
Universities Step Up
To meet the needs of this growing industry, universities such as Harvard, Columbia, Northwestern, Pepperdine, and the University of Chicago Booth School of Business have established family office programs. These programs offer a range of courses, research initiatives, and networking opportunities for family office professionals.
The Booth Family Office Initiative
The University of Chicago Booth School of Business has launched the Booth Family Office Initiative, a comprehensive program that includes research, courses, and summits aimed at current and future family office executives. The initiative is led by a council of 50 family office leaders and Booth alumni who will help steer the program.
Research-Driven
The Booth Family Office Initiative is built around rigorous research, with a focus on providing objective and actionable insights for family office professionals. The program will leverage anonymized data from software companies that provide back-office platforms for family offices, offering a unique perspective on portfolio management and investment strategies.
Networking Opportunities
The Booth Family Office Initiative will also provide networking opportunities for family office professionals, including an annual summit that will bring together around 200 attendees from families and multifamily offices. This event will offer a “safe network” for families to share ideas and perspectives without commercial pressure.
Wharton’s Global Family Alliance
The Wharton School at the University of Pennsylvania has also established a leading family office program, the Wharton Global Family Alliance. This program offers research, roundtables, courses, and special presentations, and has become a go-to resource for family offices and the broader wealth-management industry.
Meeting the Needs of Family Offices
Universities are well-positioned to meet the needs of family offices, offering a range of resources and expertise that can help these organizations navigate complex investment strategies and family dynamics. By establishing family office programs, universities can provide a valuable service to this growing industry while also advancing their own research and educational missions.
A New Era for Family Offices
The rise of family office programs at top universities marks a new era for this growing industry. As family offices continue to evolve and mature, they will require increasingly sophisticated resources and expertise to manage their complex investment strategies and family dynamics. Universities are stepping up to meet this challenge, offering a range of programs and initiatives that will help shape the future of the family office industry.
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