SFOs Managing Wealth: Top Trends Copy

SFOs Managing Wealth: Top Trends Copy

SFOs Managing Wealth: Why a Single Family Office?

An increasing number of newly wealthy families are creating a single family office (SFO) to manage a range of financial, personal and professional affairs… Abstract: When a family encounters a significant liquidity event – by selling a business or from an inheritance – members of the family frequently become barraged by advisors and providers of services, all offering to help them manage their newfound wealth and lives. How can they discern which ones are trustworthy, experienced handling the issues that come with wealth, and talented in their field?

Many families understandably believe they can most trust their hodge-podge of long-time advisors to keep their finances in order. An increasing number of newly wealthy families are creating a single family office (SFO) to manage a range of financial, personal and professional affairs. Yet many are simply unaware of the benefits an SFO can provide: privacy, control and customization.

Currently, there are approximately 50,000 families around the world worth $100 million or more in net assets1 . Although they have the resources to hire the best and brightest financial and legal advisors, the Family Office Association estimates that fewer than 4,000 of these families have created a Single Family Office to oversee their financial issues.

This White Paper is intended to inform the vast majority of exceptionally high net worth families that have not yet embraced an SFO about best practices that can result in profound benefits to family members.

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