Family offices serve as curators of the wealth of high-net-worth individuals (HNWI), their families, and their heirs. Services they typically offer include wealth planning, tax and legal services, asset management and consolidation, asset performance monitoring, trusteeship, risk management, and even charity services. Depending on the client’s personal preferences, additional services may also be offered, such as arranging business trips, providing insurance solutions, building an investment portfolio (usually in private equity), or managing real estate.
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Ultimately, it is the client who decides exactly how the family office will serve him and his family. The family office works on a variety of roles which give them flexibility in accordance with clients’ desires. They can invest the money themselves or manage their clients’ relationship with banks, investment companies, and other financial institutions. They can manage all of the family’s assets or only a portion of them. They can also be responsible for current or future disbursement of payments to family members.
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A family office can take on high-level investment strategies on behalf of their clients. They can be given the power to design the family’s corporate (holding) and private investment structures as well as assist in setting up wealth protection or other wealth planning blueprints.
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