Qualifying Family Offices

Qualifying Family Offices

by Richard C. Wilson & Family Offices Group Association Team

In our most recent edition of the Family Office Newsletter, we tackled a hot topic in the family office industry: separating actual single and multi-family offices from investment funds and service providers using the family office label in order to lure clients, access exclusive family office events or gain other benefits of being recognized as a family office.  

While there are certainly a number of firms who disingenuously pose as family offices, there is also a number of firms that simply fall into a gray area in such a loosely defined industry.  In my recent book, The Family Office Book: Investing Capital for the Ultra-Affluent, I sought to define family offices in order to avoid these issues. 

A single family office is a full-balance-sheet 360-degree ultra-affluent wealth management and CFO solution for an individual or family’s life.  The SEC has also offered a definition that includes a minimum assets under management of $100 million, but I have met many single family offices that fall below that AUM.  A multi-family office can be similarly defined, with the important distinction that it serves a number of wealthy family clients and often uses economies of scale to provide high-quality services to all clients under an all-inclusive family office structure. 

In the latest edition of the Family Office Newsletter, we shared some strategies that we have used to qualify family offices and better understand who you are doing business with.  To read the full list with full explanations, subscribe to our monthly newsletter on the family office industry here.

  1. Do Your Homework: The first step in determining whether you are dealing with a true family office is to research the firm and your contact there.  There are a number of tools to help you through this process, such as regulatory registration databases…
  2. Ask for More Information: When we need more information, I, or one of my employees, often politely make a direct request for documentation or further information on the family office such as its history, its typical client type, AUM range…
Read the full list in our monthly print newsletter, Family Office Monthly.
tags: family offices, how to find family offices, family office qualification, qualified family office, qualifying family offices, multi-family offices, what is a family office, single family offices, sfos, multi family office credentials, wealth management firms, wealth management family offices, multi family offices versus single family offices, multi family offices versus wealth management firms

Leave Your Response

* Name, Email, Comment are Required

We run the Family Offices Group, the #1 largest family office association with 84,000+ global members. We offer live events, a bestselling book, Webinars, a family office database, and a family office training & certificate program called the Qualified Family Office Professional (QFOP). To get to know us please watch this 2 minute video, and contact us any time during pacific business hours by calling (212) 729-5067 or emailing us at Clients@FamilyOfficesGroup.com.

Free Family Office Report (PDF)

Contact Details for 1,000 Family Offices in Excel