What else is there to know about a family office here in Singapore, aside from it is a private wealth management advisory firm that handles ultra high net worth wealth management for a wealthy family? Well, that’s correct, but there is something to it that makes it worth investing for. A family office isn’t as complicated as you think it is.
With that, here are the things you should know about a family office.
What exactly is a family office?
As said above, a family office is a private financial company that helps an extremely wealthy family. They serve as financial advisors for a family with ultra high net worth, which means they should have excellent wealth management, as they will be handling millions to billions of wealth.
In Singapore, there are two main kinds of family offices.
- Single Family Office
From the word “Single”, this type of family office only serves one client; an individual with an ultra high net worth that is having trouble handling his/her wealth management.
- Multi-family Office
Unlike a single-family office, a multi-family office handles a group of ultra high net worth individuals that need am in-depth wealth management, because they will manage all affairs these individuals have.
What exactly does a family office do?
To be more specific, the purpose of the family office is to help rich people grow their fortune and preserve it for generations to come. Here are the following these does a family office can do:
- Create Investment Strategies
- Manage Household Needs
- Assures Succession Planning
- Educate Family Members
- Provide Professional Advice
- Handle Charitable Organisation
Now, the question is, have you considered getting a family office? If yes, then consider going to a reliable family office! Contact Golden Equator in Singapore, as they have excellent ultra high net worth wealth management you can trust!
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