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Family offices became popular in the 1800s, with tycoons such as the Rockefellers needing to outsource the management of their growing portfolio. The offices offer almost the same services as top-tier private banks and wealth managers but are generally more flexible and focused.
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Family offices not just provide customized financial advisory, but also foster family harmony by creating better communication among members. They help the business serve as a platform in keeping the family together and strengthening agreed-upon goals for the future. In other words, the family culture is the business culture. Family offices protect family values and traditions while helping clients keep up with changing market trends.
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Family offices manage assets with a broader range of complexity, encompassing areas such as conglomerate initiatives, investments in businesses managed by others, and partnerships or passively managed assets. Such intricacy and density of responsibilities help owners and the management make sound decisions and strive for quality.
A family office founded by Amit Raizada, Spectrum Business Ventures manages a highly diversified portfolio of investments across the country. Visit this website to know how the company could help you manage your assets.