Understanding the Family Office

Life and Wealth Management

The goals and needs of the family shape the office, making each office unique in their approach to life and wealth management.

A family office is the organization that is created, often after the sale of a family business or realization of significant liquidity, to support the financial needs of a specific family group. No formal data exists, but we estimate that there are 2,500 to 5,000 family offices in the U.S. and that another 6,000 exist informally inside privately controlled businesses in the U.S. For Europe and Asia, the concept of life and wealth management in a family office is evolving, but new family offices are being formed monthly in these areas.

Types of Family Offices

Although each family office has a unique focus defined first and foremost by the family’s goals, most can be categorized into one of seven common types.

> Common family office types

List of Family Office Services

This list of family office services shows a range of commonly provided services.

> List of family office services

Do I Need a Family Office?

Family groups decide to start offices for many different reasons. Level of assets is just part of the equation.

> Reasons to start a family office

Starting a Family Office

There are many things to consider when starting a family office for life and wealth management. The first step is to think of the single family office as a business and develop a plan.

> Things to consider

Family Office FAQs

Find answers to frequently asked questions about life and wealth management with a family office.
> Learn more

Family Office Alternatives

Family offices are not always the right solution. There are some alternatives in the marketplace that offer similar services. The key is finding the right fit.

> Family office alternatives

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