What type of family office should I hire?

What type of family office should I hire?

by Richard C. Wilson & Family Offices Group Association Team

Question: What type of family office should I hire?

Answer: Only you can know the answer to this question, but I do suggest that before you go out and meet with several family offices, you should decide exactly what type of family office you are looking for.

Do you want a hands-off solution or do you want to control the direct investments of some of your capital into an industry that you are familiar with? Do you want to take advantage of life management services, budget and record keeping help, and fractional jet ownership, or keep things focused exclusively on helping you manage a portfolio of alternative investment fund managers? Do you want to work with someone in your city or could the family office be based anywhere in the world?

A few hours of speaking with your spouse, planning and reflecting on what you really want, and what will serve you and your family’s needs most, will be rewarded handsomely over the long-term.

Disclosure: To select a family office right for you, seek the counsel of your current business advisors, CPA, and legal counsel.

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Read more Frequently Asked Family Office Questions.

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