Family Office Basics Video

Multi-family offices, which serve multiple families with common financial needs, can offer efficiencies, and they can give families access to more specialized services than they might have access to on their own

How can families with an operating business leverage the expertise they have in the business to help the broader family enterprise? The Embedded Family Office, a Wealth Matters video from Family Business Magazine, explains how families with an operating business may piggyback onto the company’s tax, legal or accounting departments to help manage the family’s assets outside of the operating company or to provide concierge services. This can be an efficient way to handle the family’s needs, though it can also bring complications.

Most often used by families with $250 million, $500 million or more in investable assets, the single family office is a good solution for families with complex assets or relationships, a large number of family members, or critical privacy needs.

EY's Bobby Stover defines family offices.