Top universities are tapping into the family office boom, with a growing number of programs and courses aimed at training the next generation of family office leaders.
Last week, the University of Chicago Booth School of Business launched the Booth Family Office Initiative, a combination of research programs, courses and summits aimed at current and future family office executives. The initiative includes a council of 50 family office leaders and Booth alumni who will help steer the program.
The number of family offices has grown to more than 8,000 from about 6,000 in 2019, according to Deloitte. Their assets are expected to top $5.4 trillion by 2030, up from $3.1 trillion today. As more wealthy alumni launch family offices or work for one, they're becoming an important pipeline of donors and funding. Trust companies, private banks and consulting firms eager for family office clients are also potential sponsors for the programs.
"It was surprising to us that the No. 1 issue wasn't investing or risk management," Carbone said."It was about the human dynamics."