What are the benefits of using a multifamily office?
• Cost savings: A single-family office must compete in the marketplace against large firms to attract and retain the top talent, which can be expensive and time-consuming. A multifamily office can spread this cost among several clients. • Family dynamics: A multifamily office may help you avoid sensitive issues of family dynamics that can arise when one family member heads the family office. It can also provide much-needed objectivity and a respected third-party viewpoint in these instances. • Continuity: The team structure of a multifamily office can provide continuity if a particular manager or advisor leaves the family office. • Leading-edge technology: Multifamily offices spend considerable resources each year on leading-edge software, business continuity protection and data security. They also may be able to offer more sophisticated reporting and security solutions. • Bench strength: A multifamily office may also increase your bench strength of available talent. The fact that thes
