Families who choose to use a multi family office include:

One of the important reasons for adopting a multi family office is that the total cost is significantly lower than operating a single family office.

If you and your family have too much wealth to handle on your own, management becomes increasingly complex and requires too much time and effort, or you and your family do not have the ability and/or knowledge to manage it on their own, or if the wealth to be managed involves several generations, then you can consider adopting a joint family office to manage family wealth.

3. Save time

When a family's wealth grows to a certain extent, managing wealth requires more time than enjoying it, and may also be dissatisfied with the scattered and fragmented level of services received. Furthermore, if wealth involves several generations, it is difficult to have a common standard for service requirements. By adopting the services of a multi family office, the family can greatly reduce the number of private bankers and professional advisors who need to communicate and collaborate, and improve the efficiency of wealth management.

4. Strengthen control

Strengthen control. With joint family office services as a fixed link, families can streamline and coordinate their financial and legal affairs globally, enabling more comprehensive and systematic wealth management, managing wealth in an independent and comprehensive manner, and providing a wide range of services to meet their needs.

5. The joint family office can also serve as a bridge between family members and as a trainer for the younger generation. The joint family office can assist all family members in establishing long-term relationships and participate in cultivating financial knowledge for the younger generation.

6. The multi family office is not only involved in the management of the family's bank's acceptable assets, but also responsible for all other investments and making investment decisions. In addition, family offices often play a role in the family's holding company, helping to cultivate and guide future generations, thus facilitating the establishment of deep relationships with each other.

7. Wealth Planning

A multi family office can usually fully meet the wealth planning needs of families, supported by a large network of external experts, and can also draw on similar experiences by providing services to other families.

8. Lifestyle management and family support

The multi family office can also focus on meeting the actual needs of families, such as providing secretarial services, managing local and international real estate, assisting in managing yachts and airplanes, and providing information on foreign private schools that children can attend. These are known as lifestyle management or household services that can bring great convenience to family members.

Due to the fact that most of the joint family offices are private companies and have lower employee turnover rates than private banks, they are more able to establish deep relationships with family members, making them often trusted advisors for the family.