Family Office

Family offices provide services such as investment management, tax and estate planning, accounting, legal coordination, philanthropy, succession planning and sometimes lifestyle services, such as managing properties and staff.

There are two main types. A single-family office serves one family and is typically used by families with very large fortunes, since running one can be expensive. A multi-family office serves several families, sharing costs and expertise.

For example, a family that sold a successful business might set up a family office to manage the proceeds, invest across public and private markets, coordinate tax planning across several countries and prepare the next generation to manage the family’s wealth.

Family offices have become increasingly important investors, often investing directly in private companies, property and venture capital, as well as through funds. They often have long investment horizons and flexible approaches.

In many jurisdictions, single-family offices face lighter regulation than investment firms serving outside clients, because they manage only the family’s own money. The collapse of the family office Archegos Capital Management in 2021, which caused large losses at several banks, led to calls for greater oversight.