Family Offices

Family Office

Virtual Family Office Trend

Close to 10% of my hedge fund blog web traffic arrives via searches for family office information or contacts of some type. More high-end wealth managers seem to be taking a family office approach to managing a wealthy family's total financial exposure and budgeting instead of simply suggesting the most appropriate separate managed account or hedge fund product that they are familiar with.

One of the difficulties of doing this is building up the relationships and trust within a body of experts that can handle the tax, budgeting, reporting and accounting work required to really be able to offer a complete family office experience to high net worth individuals. There are a few firms that now utilize loose networks to provide this service and I see this trend growing very quickly over the next 5-7 years because it allows wealth management firms to give more complete services to less clients while making more money. When done right, everyone wins. I think it would help everyone do business more effeciently if there were 3-5 competitors online who all offered virtual family office services on a national level. Does anyone do this right now? I'm not sure, let me know if you have heard of a family office with this setup, I would like to take a look just out of curiosity.

I'm also collecting lists of family offices to create a free resource here. If you have any lists you could provide to me or online directories to point me towards please let me know. I'm not looking to replace a database company's product, I simply want to list out the top 100 family offices in the US, EU, Asia, etc. Thanks in advance if you can be of any help.

- Richard

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