A family office is a financial service provider which manages the wealth of private individuals and entities. The term “family office” is used both in relation to certain services provided by wealth managers and to denote asset management service providers themselves.
Family office services are offered by banks and by independent asset managers. Some family offices primarily manage the assets of just one family (so-called “single family offices”), while others serve multiple families (“multi-family offices”).
Hosting between 300 and 400 family offices, Switzerland is a mecca for European wealth managers.
Services provided by family offices include asset consolidation, investment advisory, asset allocation and securities risk management.
Other services provided to family office customers include tax consultation, real estate services (buying, selling, research), estate planning, retirement planning, philanthropy, lifestyle management, concierge services, trust management, creation of legal wills and testaments, M&A, family training, family governance, various types of financing, insurance solutions, bank account management, and the establishment of foundations and associations.
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