A family office can take many forms including a single family office or a multi-family office, and is individually designed as a bespoke managerial hub that offers integrated solutions to serve ultra-high net worth individuals and families manage all aspects of their accumulated wealth.
Unlike a traditional wealth management firm, the family office provides a full suite of services to each client family’s specific needs, making each family office personal, independent, and distinct to the family it serves. In doing so, family offices are well-positioned to provide a wealth of bespoke capabilities that serve as an elegant and efficient approach to meaningfully manage long-term wealth.
“A single-family office usually only makes sense for the families with at least US$100 million (S$134 million),” noted Mr Gary Tiernan, managing partner at Golden Equator Wealth.
“Joining a multi-family office allows for economies of scale benefits for families, and also often brings greater access to experienced investment professionals without the downside of managing a separate business.”
Read the full article here in The Straits Times.