Investment management, asset allocation, and manager selection across all family entities Tax planning and compliance coordination across multiple entities, trusts, and jurisdictions Estate and trust administration, including coordination with legal counsel Risk management, insurance oversight, cash flow management, and philanthropic planning

Single family offices typically require $1M to $3M or more per year in staffing and overhead costs Multi-family offices generally charge 0.5% to 1.0% of assets under management A virtual family office model coordinates existing advisors with a central quarterback at lower cost Compare the total cost to the value of tax savings, improved investment outcomes, and time saved

Alternatives to a Full Family Office

A comprehensive wealth management firm or RIA may serve as a lighter-weight alternative Outsourced family office services are offered by some banks and trust companies A virtual family office model coordinates specialized advisors without a dedicated staff Most families below $50M may be well-served by a quality RIA with strong planning capabilities

Family Office Basics

Curated by: Rubric Advisors

1 / 7

What Is a Family Office

A dedicated entity managing the financial affairs of one or a few wealthy families
Typically handles investments, tax planning, estate planning, insurance, philanthropy, and family governance
Provides coordination across all advisors and service providers under one umbrella
Generally considered relevant for families with approximately $25M or more in investable assets

Single vs. Multi-Family Office

A single family office (SFO) is dedicated exclusively to one family, offering full control and customization
SFOs typically cost $1M to $3M or more annually to operate due to staffing and overhead
A multi-family office (MFO) shares resources across several families, reducing cost but also customization
Hybrid models exist that blend dedicated and shared services to balance cost and personalization

When to Consider a Family Office

Financial complexity exceeds what a traditional RIA can coordinate, such as multiple entities and trusts
The family holds diverse asset types including real estate, private businesses, art, and alternatives
Multi-generational wealth requires a governance structure to manage decision-making across family members
Desire for consolidated reporting across all assets, entities, and investment accounts

Governance & Next Generation

A family mission statement and investment policy can help align family members on goals and values
Regular family meetings and financial education programs may help prepare heirs for wealth stewardship
Succession planning for family office leadership helps ensure continuity across generations
Documenting family values and philanthropic goals can provide a lasting framework for future decisions

Our Approach Retirement Planning

Try Our Free Tools

Growth Visualizer Inflation Calculator Fee Impact Calculator

What Is a Family Office

Single vs. Multi-Family Office

Core Services

When to Consider a Family Office

Cost Considerations

Governance & Next Generation

Alternatives to a Full Family Office

Related Topics

Choosing a Financial Advisor

Estate Planning 101

Private Foundations

What Is a Family Office

Single vs. Multi-Family Office

Core Services

When to Consider a Family Office

Cost Considerations

Governance & Next Generation

Alternatives to a Full Family Office

Related Topics

Choosing a Financial Advisor

Estate Planning 101

Private Foundations