For affluent families, having a dedicated team of professionals to manage their finances and family operations, and only their finances and family operations, can be extremely desirable. However, the costs of establishing a single-family office can be exorbitant and beyond the financial reach of most high-net-worth households. That's where a multi-family office can be incredibly valuable. A multi-family office offers a comprehensive and personalized suite of services similar to a single-family office at a fraction of the cost.

Define a multi-family office.

A multi-family office provides many of the same services as a single-family office but to multiple families instead of just one. The services provided by a multi-family office include tax and estate planning, risk management, investment management, trusteeship, lifestyle and concierge services, coordination of other financial professionals, and philanthropic strategies. This holistic approach is particularly useful for multi-generational families.

Why hire a multi-family office over a wealth manager?

An advantage of a multi-family office over a typical wealth manager is the team of specialists that work with clients. This is in contrast to a standard wealth manager, who is often a singular practitioner. Another advantage is the cost-sharing that comes with pooling resources. This allows for lower fees and expenses for client families while providing greater leverage, buying power, and access to leading managers and investment opportunities.

When should you hire a multi-family office?

As a family's wealth grows and their financial affairs become more intricate, a multi-family office can become a suitable option. Generally, clients of multi-family offices have a net worth of over $25 million.

How should I choose a multi-family office?

When selecting a multi-family office, it is important to select one that shares your family’s vision and values. The multi-family office should be a fiduciary that is committed to transparency and acts in your family’s best interests at all times, with no conflicts of interest. Ensure that the multi-family office you select can provide the full range of services you desire and has the depth of talent and experience to deliver on your family’s long-term wishes.

At Holden Family Office, we are committed to providing the highest level of service to our clients. We are happy to schedule a private call to discuss your family’s needs and see if our multi-family office is the right fit for you.

By Sean Meunier, President

Important Disclosures

This article may not be copied, reproduced, or distributed without Holden Family Office’s prior written consent.

All information is as of date above unless otherwise disclosed. The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product or service sponsored by Holden Family Office or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Holden Family Office, nor any affiliates, make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

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