Wealth Management: The Family Office

Wealth Management: The Family Office

by Dr Edgar Paltzer

Wealth Management: THE FAMILY OFFICE

Family offices provide private advisory services for wealth management with a focus on ultra-high-net-worth individuals.

Unlike traditional wealth management services, family offices tend to offer a full range of outsourced services designed as a full package to protect

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and manage the finances of the family or families they serve.

Single-Family Offices A single-family office serves just one family and provides them with a dedicated service.

This will include all aspects of financial management such as investment advice, budgeting,

tax services, charitable giving, wealth transfer, insurance, and business advice. This type of family office may also provide non-financial services such as advice on or assistance with travel arrangements, private schooling, or other household arrangements.

Multi-family offices provide the same range of financial services as singlefamily offices but will have more than one family as clients.

Multi-Family Offices Multi-family offices provide the same range of financial services as single-family offices but will have more than one family as clients. These offices can provide more efficient economies of scale, as clients can share costs for certain services, which in turn can reduce the total fees payable. .

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You can learn more about family offices and why the Bahamas and Switzerland are ideal locations for this type of wealth management business by visiting the blog of Dr Edgar Paltzer.