‘Family office wealth management’ was invented by the Medici family in 15th Century Florence, employing in-house art experts to curate their private portfolio and invest in emerging artists. Subsequently the family purchased works by the unknown Leonardo Da Vinci, Michelangelo and Botticelli.
Family offices are often set up by families to discretely and privately to manage their without using a mass market provider, so that they can be sure that their best interests are being looked after.
Often the fees that these affluent families would pay a standard private wealth management firm are so high that it becomes viable to employ full time professionals to provide personal tax advice, investment advisory services and personal financial planning to concentrate entirely on looking after the family within a dedicated family office.
They (and we) are private companies, with family ownership which give them the ability to make decisions and plan for the long term.
Family office wealth management firms are genuinely independent and interests are aligned with any clients who invest alongside them.
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