Ever wondered which the biggest family offices in the world are? Traditionally, a family office refers to a private company that undertakes the management of investments for a single family. However, in a more modern context multi-family offices have become the common phenomenon. These are the independent organization which handles investments and manages the wealth of multiple wealthy families.
Family offices today are taking care of a number of services for their clients! From tax planning, risk management, financial counsel, investment management to co-ordination of professionals, they are providing a one-stop solution to more and more of their clients’ needs. Some even provide more personal services such as making travel arrangements and household management. It wouldn’t be too wrong to say that some of these family offices have a significant hand in the lavish lifestyles that the billionaire families of the world maintain. And, if the billionaires of the world and their lavish lifestyles are a subject of interest for you, you should also check out our list of the 11 Countries with the Most Billionaires in the World.
The current list we have at our hands is based on the Bloomberg Market’s Annual Ranking of the Richest Family Offices in the World, and is based on the Asset Under Administration (AUA) of the respective companies. We also see that the major players are either big banks or boutiques catering to niche services as well as major financial services. As most of the wealthy families tend to lose their legacies by each passing generations these firms even provide some history lessons and training to the heirs. Hence, in a way these firms are helping the rich families to protect and further their inheritance and heritage.
So here are the multi-family offices which are helping the wealthiest clans of the world stay super rich!