How Hard is it to Start a Family Office?

How Hard is it to Start a Family Office?

by Richard C. Wilson & Family Offices Group Association Team

Question: How Hard is it to Start a Family Office?

Answer: For most ultra-affluent clients, starting a single family office is not a realistic option. Doing so requires being comfortable with running a financial firm, or at least hiring the right talent to make sure the operation is worth the high costs of operating the firm. Also, most single family offices require a relatively large investment of time to manage, compliance monitoring, and at least $50M-$100M in capital to really provide an efficient solution for the ultra-affluent client. These factors combined lead most ultra-affluent clients, even those with $100M or $300M+ in wealth, to turn to a multi-family office solution.

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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