Article

Family Office Magazine | Unlocking the Potential of Family Offices

December 17, 2025 – Family Office Magazine
Portrait of Steven Thayer

Family offices have long operated quietly in the U.S. investment landscape, relying on public and private managers to preserve and grow wealth. Recently, however, they’ve evolved into sophisticated investors, increasingly managing their own private market investments. Yet regulatory hurdles — especially those imposed by the Securities and Exchange Commission — have made collaboration among family offices difficult. It’s time for the SEC to rethink its approach.

The article proposes two key reforms: expanding the family office exemption to cover pooled investment funds among families and creating a broker-dealer exemption for family offices that co-invest in deals they source. These changes would unlock billions in private capital for small businesses while maintaining appropriate oversight, recognizing that family offices are institutional investors, sophisticated retail participants needing heavy-handed protection.

Click here to read the full article written by Steven Thayer and published in Family Office Magazine

This article originally posted in the Family Office Magazine Winter 2025 Issue in December 2025.

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