Family Offices: Finding Common Themes Can Guide Advisors’ Support

The uniqueness of family offices may be overstated. It is a cliché in the wealth management business that if you’ve seen one family office, you’ve only seen one family office. That can be daunting for financial advisors who want to expand or enhance their offerings to ultra-high-net-worth families. While it is undoubtedly true that each family office has its own unique characteristics, there are shared concerns among affluent families that wealth advisors need to address. A recent survey by Citi Private Bank’s Family Office Group identified some key common themes. Advisors will be well served if they keep these issues in mind as they market and tailor their services for ultra-high-net-worth clients and the family offices that guide them.

1. Remember that investment returns are not always the main concern.