The Concept of a Multi-Family Office.
The concept of the single-family office was developed in the United States during the second half of the 19th century, when families such as the Rockefellers, Whittiers, and Pitcairns established their own private organizations as a means to have direct control over the management of their wealth.
Because many families find it difficult to justify the cost of a private family office, for many a preferable solution is the attainment of services from a multi-family office.
The tasks performed by these offices are based upon the key principles of objectivity, transparency, and alignment of interest with those of the family members served with the ultimate goals of creating family harmony and success in asset growth and transfer across multiple generations. Now, as before, the multi-family office scope includes management of the family wealth, asset allocation, supervision of banking activities, consolidated reporting, monitoring and attribution of performance, legal and tax optimization activities, estate planning, management of concierge services, philanthropic activities and the management of real estate assets.
Let your family experience what a family office can do for you, your family, and your wealth.
Park Sutton and Meeschaert
