Question: How Many Clients Do Family Offices Serve?
Answer: Somewhat obviously, a single family office serves a single family as its only client but multi-family offices can serve many more clients. Multi-family offices can serve anywhere from two clients to 500+ ultra wealthy individuals and families. For some family offices, the management team prefers to focus limited resources on a limited number of clients, assuring a high quality of services to its select clients which could be only 2-3 very affluent families.
Other multi-family offices chart a different course by capitalizing on economies of scale whereby it services several hundred wealthy families using its significant resources. This family office is usually backed or fully-owned by a larger investment or commercial bank that can offer its resources through the family office to clients.
So, really, there is no set number and each family office may take a different approach in order to best serve its clients and families may find a different offering and level of quality depending on the family office’s focus, resources and team.
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