What Is a Family Office?
A Family Office is a synergistic structure that provides comprehensive tax planning, wealth management, legal and tax compliance, risk management, and estate planning services for high-net-worth individuals and families. The primary purpose of a family office is to manage and preserve the wealth of a family across generations. Family offices are typically established by families with substantial assets and complex financial needs.
Types of Family Offices
Single-Family Office (SFO)
A single-family office serves the financial needs of a single (usually ultra-wealthy) family exclusively. It is a private organization tailored to the specific needs and goals of that family.
Multi-Family Office (MFO)
A multi-family office serves multiple wealthy (or even upper middle-class) families by pooling resources and expertise to provide a range of financial services. MFOs offer economies of scale and can be a cost-effective option for families with less extensive needs or assets.