Do Family Offices Offer Life Management Services?

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.

Read more Frequently Asked Family Office Questions.

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