Single-Family Offices (SFOs) are dedicated to meeting the unique needs of families, offering a wide range of in-house services. This ensures families have complete control, receive personalized and tailored assistance, enjoy privacy, and benefit from a family-oriented approach.
In contrast, Multi-Family Offices (MFOs) are commercial enterprises that provide similar services as SFOs, but for multiple families. MFO clients can take advantage of economies of scale, access comprehensive services, and tap into a pool of high-calibre professionals and advisors. These benefits are particularly valuable for international families, as MFOs assist with multi-jurisdictional aspects and connecting with top service providers such as accountants, lawyers, and registered agents.
Moreover, MFOs offer a wide range of tailored services beyond what retail private banks, wealth management, or brokerage firms typically offer. These services may include investment management, manager selection, due diligence, risk management, aggregated reporting, family education, family governance, capital sufficiency analysis, concierge services, bill payment, tax advice, and legal guidance. Some Wigmore Association family offices even provide additional services like private equity, corporate finance, real estate, estate planning, succession planning, financial education, and tax planning.
This collaborative overview offers insights from each Wigmore firm, aiming to address the frequently asked questions regarding the benefits of single or multi-family offices. For more information about the Wigmore Association, please don’t hesitate to reach out to us through our website.