What is a Family Office?
Wealthy private investors and families increasingly want to be taken care of like institutional investors, on the basis of independent wealth advice. The term “family office” refers to the integrated care of wealth. A family office may focus on one single family (single-family office) or several families in the form of a multi-family office.
Starting with the demands of the family, family offices fulfil all duties either with their own personnel or specifically outsource specific tasks or areas which they cannot or do not want to cover with their own resources. Nowadays, most of the family offices devote themselves to central coordination, controlling of processes and selected core competences, in particular in connection with bankable assets. Beyond this, they call on external specialists.