What is a family office?

A family office is, in its simplest form, the private office for a family of significant wealth. The purpose of an office can range from handling key family assets and core holdings (tax and accountancy, property and estate management) to include more sophisticated wealth management structures, while often providing family members with educational, professional and lifestyle services.

Generally, family offices manage key areas of family assets, including real estate holdings and direct or indirect investments, tax consolidation and estate management, serving as the central hub for a family’s legacy, governance and succession communication.

Creating lasting success

Many wealthy families find family offices to be essential vehicles for creating lasting family and financial success. But to create a high-performing family office that helps your family achieve its goals and broader purpose, you must set it up and manage it correctly – according to your family’s purpose, characteristics, needs and aspirations.

Find out more on our Family Office Compass page

Who would benefit from using a family office?

Families with private wealth in excess of USD 150 million are ideal candidates for establishing a single family office structure.

While it is not uncommon for first-generation entrepreneurs to establish a family office, family offices often support families with more complexity in terms of number of households and generations. This is a key characteristic of family office structures and one that offices must account for when designing and executing investment strategies and family governance plans.