Multi-Family Office Wealth Management

Multi-Family Offices & Wealth Management

There are over 85,000 people in the world with a net worth of over $30M. In the United States there are an estimated 3,000 family offices catering their services to high net worth and these ultra high net worth individuals.

Family Office Trends

Family offices were initially created as financial partners for ultra wealthy people with well over $100M in assets. They would help manage every single financial aspect of the individual's or family's lives so that their capital could be preserved and put to best use to fulfill their goals. Recently many larger wealth management firms calling themselves family offices and at least half of all family offices outsource major functions such as accounting and tax services. While most family office services are provided in a consultative fashion that is part of your base fees owed special projects or assignments can cost high net worth individuals $300-$600/hr.

Family Office Due Diligence

It might seem obvious that every wealth management office has technological tools to create an asset allocation model that fits your risk/reward/return preferences but this is far from the truth. The majority of family offices do have these tools as they are known for investing heavily in technology, but you should also ask about them. Other things that seem important to consider while Choosing a family office seem to be:

• Their number of clients
• Average net worth/client
• Experience of the principals
• Experience of those directly serving your needs
  
• Would you be their biggest client? Smallest?
  
• Total AUM of the family office
• Family office employee to client ratio
• Client opinions, quotes and referrals
• Industry reputation
  
• Their view of money management - active vs. passive
• What their take on Hedge Funds, Fund of Hedge Funds, and ETFs are
• How they design portfolio models
• Location

On the topic of family office location if you have worked with a truly excellent family office please leave a comment below or email me and I'll begin completing the following list of family offices below:

• New York, NY Multi-Family Offices:
• Boston, MA Multi-Family Offices:
• London Multi-Family Offices:
• Geneva Multi-Family Offices:
• Zurich Multi-Family Offices:

- Richard

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Permanent Link: Family Office Wealth Management

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