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In recent years, family offices have seen significant growth. These private companies handle investments and wealth management for high-net-worth individuals and families, primarily focusing on growing and preserving wealth for future generations. Family offices can serve one family with a net worth starting around $100 million or multiple wealthy families who share the costs, making them accessible even for those with a lower net worth in the $30 million – $50 million range. A family office can be customized to the goals and priorities the family desires.

Reasons to Set Up a Family Office

Long ago, the first family offices emerged to handle successful entrepreneurs’ wealth. The idea of modern family offices started growing in the 19th century. These days, the family office has become an advanced business that handles not only financial planning but also many family matters. In addition to financial planning, family offices can guide tax strategy, estate planning, philanthropy, trust services, lifestyle concierge, generational wealth transfer, and more. Some reasons to set up a family office:

1. Legacy planning

High-net-worth families face hurdles like costly estate taxes, complex laws, and business concerns when securing their legacy. A thorough wealth transfer plan should consider various solutions for maintaining or exiting business interests, asset protection, trust structures, philanthropy, and family governance. Family offices collaborate with a team of advisors from various fields in this intricate process to ensure an effective and optimized legacy plan.

2. Investment and lifestyle management

Family offices play a pivotal role in managing a wide range of assets for wealthy families. They handle investments in various areas such as real estate, private equity, hedge funds, and venture capital. Additionally, family offices often act as personal concierges, assisting with tasks like security arrangements, travel planning, streamlining business matters, and other services, all designed to cater to the lifestyle needs of their clients.

3. Family wealth education

A family office has the task of teaching younger family members how to manage wealth in a way that aligns with the family’s values. It aims to nurture an understanding of their wealth and its responsibilities among the upcoming generations. By providing this education, a family office can promote family harmony and avoid conflicts over money matters and generational transfer.

Do You Need a Family Office?

Evaluating a family office as a solution to guide your long-term financial and wealth transfer goals can be overwhelming. Calvetti Ferguson works with family offices across Texas – namely Dallas, Houston, Fort Worth, San Antonio, and Austin. We have extensive experience serving family offices, offering an integrative approach to asset management, cash management, risk management, financial planning, and lifestyle management.

As an affiliate of Calvetti Ferguson, CF Financial provides personalized wealth management for business owners and entrepreneurs aiming to clarify their vision, invest according to their values, and secure their financial future.

Contact Us

Calvetti Ferguson works with middle-market companies, private equity firms, and high-net-worth individuals across the country. Regardless of the complexity of the compliance, assurance, advisory, or accounting need, our team is ready to help you. Please complete the form below, and we will follow up with you shortly.