Whether you’re considering starting a family office or looking for a good primer to help orient new employees of an established office, there is a wealth of information available:
- Worth Magazine’s “Family Offices: The Ultimate Guide to Managing Your Wealth and Legacy”goes over basics such as the difference between single family offices and multifamily offices, the services family offices can provide, and the advantages — and costs — of having a family office.
- Investopedia’s “What Is a Family Office and Do You Need One?” offers a definition of a family office, an explanation of the different types of family offices, and advice for determining if you need one.
- Simple has two guides available: “How to Start a Family Office” defines different types of family offices but also includes common pitfalls and a list of five practical steps to take to create a family office. “A Simple Guide to Family Offices” gives more detail on family office setup and operations.
- From Family Business, “Family Office Basics” gives a detailed explanation of the family office framework and structuring options.
- PwC’s “Building Your Future-Ready Family Office in Four Steps” offers strategic planning and design tips for family offices.
- “A Guide to Establishing a Family Office,” from Citi Private Bank, discusses the qualitative and quantitative factors that go into deciding on a family office, as well as operational, governance and staffing issues.
- Cresset’s “What Is a Family Office? A Complete Family Office Guide” offers a detailed look at the types of family offices and common services they offer.
