The New Standard of Service: What Clients Expect from the 21st-Century Family Office

Abstract

The dynamics of single-family and multifamily offices have changed over time as greater sums of wealth are created each year. Family offices have become closer in style and service to investment advisory and wealth management organizations, and those organizations have adopted many characteristics and philosophies of family offices in order to attract and service a wealthier and more demanding clientele. Single-family offices are driven by a desire for confidentiality and control, whereas multifamily offices are driven by such business factors as profitability and scalability.