Marvin J. Schmidt outlines why as a burgeoning industry, the family office industry in Canada and globally should be defined and standardized.

The family office industry has experienced a proliferation in recent times.This growth mirrors the rise in world-wide wealth, as well as the increasing complexity of the wealth environment. As families contend with the significant transfer of wealth that will take place in the next decade, and the further increasing complexity surrounding significant family wealth, we will continue to see a growing need and resulting presence of family offices in Canada and globally. 

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