A Family Office is a private wealth management advisory firm that offers a comprehensive collection of services to ultra-high-net-worth investors. All financial and investment activities can be handled by family offices, such as budgeting, charitable giving, estate planning, portfolio management, retirement planning, tax planning, and wealth transfer services. Family offices are able to provide a complete outsourced solution to their clients, which is what sets them apart from traditional wealth management firms.
In UK law, a Family Office refers to a private wealth management advisory firm that caters to the financial and investment needs of high-net-worth individuals and their families. These offices provide a range of services, including investment management, tax planning, estate planning, philanthropy, and family governance. Family Offices in the UK are subject to various legal regulations and guidelines, such as those related to financial services, data protection, anti-money laundering, and client confidentiality. They often work closely with legal professionals to ensure compliance with these laws and to provide comprehensive and tailored solutions to their clients’ financial needs.
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This glossary post was last updated: 29th March 2024.
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