Family Office Alternatives

Multi-Family Offices and Wealth Advisors

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.

Families and individual private investors may decide not to set up their own family office because they do not want to be responsible for managing a financial services business. Or, they may prefer the continuity offered by an established institution where they can evaluate the quality of financial services before they choose to become a client.

Multi-Family Offices

Individuals and families with assets greater than $20 million may be best served by a multi-family office (MFO) or a financial institution with a dedicated wealth management specialization. Multi-family offices have historically provided high net worth families with comprehensive financial services and confidentiality not available from larger, product-driven financial institutions. Participating families have access to a wide array of integrated services that are not collectively offered anywhere else.

Value added by multi-family offices includes:

  • Financial quarterback supported by specialists in each field
  • Teams of qualified professionals who can collaborate
  • Continuity of service if quarterback leaves
  • Experience in managing generational transitions
  • Better risk management policies and procedures
  • More comprehensive information systems
  • Relationship pricing for inter-disciplinary services
  • A tactical, values-based approach to investing, transaction planning and philanthropy

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