The recently released Single Family Office Compensation Report from Morgan Stanley Private Wealth Management and Botoff Consulting, a survey of over 400 single family offices in the United States, explored how many single-family offices provide various services. The report notes that these results have been fairly consistent since they started conducting the survey in 2015.
Almost all single-family offices provide:
- Tax compliance/preparation: 98%
- Tax planning: 98%
- Estate planning: 96%
- Legal services: 95%
- Financial planning: 95%
The vast majority provide:
- Insurance/risk management: 94%
- Succession planning: 88%
- Family governance: 85%
Significant majorities provide:
- Concierge services: 74%
- Wealth education: 68%
And over half provide:
- Art/collectibles management: 54%