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.