Virtual Family Office

Virtual family offices outsource some or nearly all functions, coordinating outside advisors across investments, tax and estate planning. But added complexity around contracts, reporting and data requires strong coordination to keep advisors aligned.

A VFO gathers expert advisors on an as-needed basis for virtual meetings, rather than using the physical office as a base. This can be more cost effective, especially for families whose assets are not enough to support a single family office. Experts say a virtual family office can make sense for a family with from $10 million or $20 million to about $250 million in assets.