| Managing any business is difficult and
time consuming. When you add the complexities of managing personal
financial affairs, very few people can rise to the challenge without
outside help.
The wealthiest business owners often
form a family office to help them integrate their business and their
personal financial affairs. The family office usually consists of
several full-time professional employees with complementary skills.
This team understands the family's overall situation and they are paid
to help the family achieve their financial goals.
The downside of a family office is
the cost. The Family Office Exchange, a trade association, estimated
that a business owner needs a net worth of at least $50 million before
the cost of setting up a family office can be justified. After
studying over 25 family offices, Centering has learned how to use a
part-time team of professionals to give the client most of the
benefits of a full-time family office.
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