Types of Family Offices

Family offices vary in type and structure.

Here are three types of family office structures to consider.

Single-family office.

This structure provides services exclusively to one family.

It offers the most customized program.

It is the most expensive type of family office structure.

It works best for ultra-high-net-worth families.

Multi-family office.

This structure provides services for a number of families.

It offers commonly used services such as accounting, tax, and investment advisory.

It provides a lower cost structure as the expenses are spread among several families.

It works best for high-net-worth families.

Virtual family office.

This structure provides services primarily through online means.

It provides the lowest cost structure possible as it utilizes fractional services from professionals.

It works best for families who don’t need custom services.

Consider these structures in setting up a family office for your family business. 

 

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