What do families need to consider when choosing a structure for their family office? It’s a very individual decision — but there are some trends that may affect how families decide.
For example, CNBC reports a side effect of the rapid growth of family offices is it’s becoming difficult for them to hire money managers: The Wealthy Can’t Find Enough People to Manage Their Money. Here’s Why. And some families are looking beyond the traditional single- vs. multi-family office dichotomy: Why the Virtual Family Office Model Is Reshaping Wealth Management (Tampa Bay Business & Wealth).
For those interested in the current thinking on the pros and cons of single family offices and multifamily offices, there are a number of guides:
- Wealth Management Models Shift as Families Reevaluate Office Structures (ABC Money)
- Pros And Cons Of A Single-Family Office (SFO) Vs. A Multi-Family Offices (MFO) (Homrich Berg Wealth Management)
- Single family office vs. multi family office: Which is right for you? (Aleta)
- Single-Family Office vs Multi-Family Office: Understanding the Differences and Selecting Which is Best for You. (Caprock)
- Comparison Between SFO and MFO (Global Law Experts)
Other guides go beyond these two choices to help compare virtual and embedded family offices:
- Choosing the Right Financial Professional: SFO, MFO, or VFO? (GGC)
- Understanding the Different Types of Family Office Structures & Deciding Which One is Right for You (Geller)
