Who uses a multi-family office?

Who uses a multi-family office?

by Richard C. Wilson & Family Offices Group Association Team

Question: Who uses a multi-family office?

Answer:  While some family office clients inherit their wealth and some are professional athletes or movie stars, a high percentage of family office clients have recently taken a company public or sold a business and as a result they are in possession of $20M, $100M or more in assets that they didn’t have to manage in the past. As the saying goes, with more money comes more problems. Family offices try to help manage and preserve that wealth, and the goal of this book is to explore how they attempt to do that on a consistent basis.

Examples of well-known individuals who use family offices include Michael Jordan, Paul Allen, Oprah Winfrey, Bill Gates, and Donald Trump. Almost everyone who runs a single family office has between $100M and $1B, with a smaller percentage having over $1B in assets and an even small percentage having under $100M in assets under management.

Most multi-family offices require $20M-$30M in investible assets to join their platform, but due to economic conditions and hunger for business growth, some family offices are allowing $5M and $10M clients in the door. At the other end of the spectrum, some high-end family offices, including several we interviewed for this book, require $100M-$250M in investible assets to participate in their multi-family office. For the purposes of this book, we will be referring to ultra-affluent clients as those with over $20M in investible assets.

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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