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general questions

A multi family office is an entity that supports the financial and non-financial needs of a specific family or group of families. It typical offers services in risk management, lifestyle management, integrated tax planning, balance sheet consolidation, investment strategy and implementation, family education, estate planning and philanthropic planning. Some offices will also manage life insurance analysis, household staff management, and aircraft yachting and consulting. In supporting the complex financial needs of a specific family, the family office essentially acts as their chief advisor.
As the above mentioned customized services carried out by a family office can be costly, clients typically have a net worth in excess of USD $50 Million.

As your family’s assets continue to grow and your financial life becomes more complex, a family office becomes more important as a means to consolidate your needs. The two main types of Family Offices are:
• The Single Family Office: This will service the needs of one family
• The Multi Family Office: This will service the needs of more than one family, benefitting from efficiencies through shared resources.
Family offices will also provide support in areas such as:
• Educating the next generation of family members
• Wealth transfer to the next generation,
• Multi-generational planning and philanthropic planning
• Determining strategy when taking stock of family heritage, family trusts and family values.
• Pooling purchasing power across a family group

Outsourcing does initially raise a concern with family members but in practice, outsourcing allows senior family members to focus on the important details and overseeing the family office. Overseeing such an operation will include critical analysis of financial audits, risk assessments and regulatory audits. As the family’s needs evolve, so too can the services employed to achieve their strategic objectives.

We operate on the premise that our clients deserve the best possible service available and as such, if working with some of your existing service providers allow us to determine your best strategy, we will promote this as core to our strategy. This practice allows our team to effectively manage your wealth management strategy through the use of best in class service.