What Is A Family Office

This type of family office does much or all of the above.

What is a family office. Conceptually the multi family office structure is an extension of the current ubiquitous wealth management model. 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. Sometimes the family office can be essentially a pa service.

A business that helps firms engage in fewer deeper and. That is a family office performs centralized management or oversight of investments tax planning. They therefore have very deep and broad skills.

Family offices differ from traditional wealth management offerings as they offer an all inclusive solution to managing the finances and investments of a wealthy individual or family in addition to some household related services there are two types of family offices single family offices and multi family offices. Family education is an important aspect of a family office. 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 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. Family offices can provide a wide range of services including. Every family office is as unique as the family it serves.

This includes educating family members on financial matters and instilling the family values to minimize intergenerational conflicts. The company s financial capital is the family s own wealth family offices also may handle tasks such as managing household staff. The family have a degree of complexity regarding their affairs.

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. The full service family office. This organisation requires two key components to be in place.