Business consultants should set up a family office in a way that best represents the financial interests of the client. A typical family office might include services such as legacy planning, investment and asset management, lifestyle management, taxation management, and family wealth education. These are all highly complex issues that involve a great deal of risk to a family’s wealth. Having tailored services designed to meet the needs of the individuals within a family is the best way to deliver long-term financial health.
When you have a dedicated family office, you can enjoy a personal service that’s impossible with multiple financial service providers. You can also tailor your privacy according to your preferences and circumstances. And by bringing all of these essential wealth management services together, you can cut the administrative costs involved. For a personalized, fully customized financial management service, the family office structure is best placed to protect your family’s long-term financial interests.