Do Family Offices Offer Life Management Services?

by Richard C. Wilson & Family Offices Group Association Team

Question: Do Family Offices Offer Life Management Services?

Answer: Yes, family offices often offer life management services, although it is more common among single family offices than multi-family offices.

While many single family offices structure services to provide many life management services on top of financial management solutions, this is not always the case with multi-family offices. Many times when multi-family offices offer these types of additional services, they are at far reduced prices or for free and as a line item they lose the firm money, but are offered as a source of marketplace advantage.

Benefits which are non-financial and could be used for strategic advantage include life coaching, golf or private club memberships, or use of vacation properties, luxury vehicles, or yachts. As competition among family offices grows, it is expected that these types of additional benefits of becoming part of a multi-family office will steadily increase in popularity.

Download our free Family Office Report to learn more about the family office industry.

7 More Family Office Resources:

What services do family offices offer? Question: What services do family offices offer? Answer: Family offices provide a range of services to their clients from philanthropic assistance to tax and accounting work. While family offices often tailor their services to the ...
Do Family Offices Offer Tax Advisory Services? Question: Do family offices offer tax advisory services? Answer: Yes, family offices often provide tax advisory services to families and individuals. Ultra-wealthy individuals have many types of assets, global assets, and enough income and potential tax liability ...
What family office financial services are typically offered? Question: What family office financial services are typically offered? Answer: Family offices offer a range of services to clients, not all of them financial, but financial services are perhaps the most important to clients. Family ...
Do Family Offices Offer Portfolio Management Services? Question: Do Family Offices Offer Portfolio Management Services? Answer: Yes, many family offices offer portfolio management services to families. In fact, portfolio and investment management services are core to what a family office typically offers ...
Do Family Offices Offer Multi-Generational Wealth Management Question: Do Family Offices Offer Multi-Generational Wealth Management Services? Answer: Yes, often times preparing and completing the transfer of wealth from one generation to the next is an important benefit of hiring a family ...
What is a virtual family office? Question: What is a virtual family office? Answer: A virtual family office seeks to offer the family office experience through a range of different services from tax and accounting to investment advising by out-sourcing service ...
How can I make more money as a family office professional? Question: How can I make more money as a family office professional? Answer: If you are able to attract a good number of clients and satisfy them fully then a family office career can be ...