An Introduction to Single and Multi-Family Offices by Dr Edgar Paltzer
An Introduction to Single and Multi-Family Offices A family office is a wealth management service specifically designed to meet the needs of high-net-worth individuals and families. There are two main types of family office: the singlefamily office and the multi-family office.
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Multi-family offices provide similar services to single-family offices but to several clients at once.
Single-Family Offices Single-family offices deal with all aspects of finance for one family. Typically, families will benefit from the services of a single-family office if they have a net worth exceeding $150 million. Administering large volumes of assets such as these can require specialist knowledge
and a commitment to working for the benefit of the family in question. Single-family offices often also offer services that fall outside the remit of finance and into the category of life management, such as dealing with vehicles, offering concierge services, and dealing with household staff.
Multi-Family Offices Multi-family offices provide similar services to single-family offices but to several clients at once. Multi-family offices may not provide the additional services a single-family office will, and will focus on the core financial and investment management services. Benefits include lower fees and access to better deals through pooled resources. 3
You can read some of the key insights from family offices in 2020 by visiting the blog of Dr Edgar Paltzer.