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A multi-family office (MFO) is an independent organization that supports multiple families to manage their entire wealth.Multi-family offices typically provide a variety of services including tax and estate planning, risk management, objective financial counsel, trusteeship, lifestyle management, coordination of professionals, investment advice, and philanthropic foundation management.
Bessemer Trust is a private, independent multi-family office that oversees more than $200 billion for over 3,000 families, foundations and endowments. [2] Founded in 1907, the firm has its headquarters in New York City, with 19 regional offices elsewhere in the world.
Family offices started gaining popularity in the 1980s, and since 2005, as the ranks of the super-rich grew to record proportions, family offices swelled proportionately. [13] In 2007, the case of the Ayer family office highlighted family office risk when a "family confidant allegedly siphoned about $58 million away in a few years." [9]
The average global total net worth of families with family offices is $1.4 billion, according to J.P. Morgan's 2024 Global Family Office report (the median is $661.6 million), and the offices ...
The trio of billionaires, along with a few other tech moguls, all rely on Iconiq Capital—a so-called multi-family office—to manage their wealth.
A family office is a firm that provides comprehensive wealth management services to a single individual or family. A multi-family office simply expands on the same concept. Instead of working with ...
All data comes from the Family Business Index 500 report by the British auditing firm Ernst & Young and the University of St. Gallen, which lists the 500 largest family businesses in the world. All 500 companies on the list had a combined turnover of $7.3 trillion in 2020.
A family office is a financial advisor firm that provides comprehensive wealth management services to a single individual or family. A multi-family office simply expands on the same concept.
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