What Is A Family Office

Conceptually the multi family office structure is an extension of the current ubiquitous wealth management model.

What is a family office. Most definitions of a family office will include the standard wealth management functions. In this instance the family office is essentially a convenience. The full service family office.

The family needs someone to help them with their daily needs which can be anything from drafting letters to arranging flights and accommodation to walking the dog and the personal assistant is at their beck and call. That is a family office performs centralized management or oversight of investments tax planning. A multi family office is normally set up as a privately owned company.

The family have a degree of complexity regarding their affairs. This includes educating family members on financial matters and instilling the family values to minimize intergenerational conflicts. A family office is a privately held company that handles investment management and wealth management for a wealthy family generally one with over 100 million in investable assets with the goal being to effectively grow and transfer wealth across generations.

Every family office is as unique as the family it serves. Family education is an important aspect of a family office. This organisation requires two key components to be in place.

Family offices can provide a wide range of services including. A family office is the organization a family creates often after the sale of a family business or another significant liquidity event to support the financial needs of a specific family. The company s financial capital is the family s own wealth family offices also may handle tasks such as managing household staff.

They therefore have very deep and broad skills. Although it can be established anywhere in the world you will find them primarily in europe mainly in switzerland and london and the united states of america in the past few years an increasing number of firms in hong kong and singapore have also started providing these services. A business that helps firms engage in fewer deeper and.