At Matter Family Office, we understand that managing wealth goes far beyond numbers—it’s about aligning your financial resources with your values, goals and legacy. For high-net-worth individuals and families, a family office provides a dedicated team to address the unique complexities of significant wealth. High-net-worth family offices manage everything from investment strategies to family governance, enabling families to focus on what matters most: living their values and creating lasting impact.
Types of High-Net-Worth Family Offices
High-net-worth family offices are not one-size-fits-all; they come in different structures to meet the diverse needs of high-net-worth families. The two primary types of family offices are single-family offices and multi-family offices, each offering distinct benefits based on a family’s priorities and resources.
Single-Family Offices
High-net-worth single-family offices are exclusive entities established to serve a single family. These offices are highly personalized, offering dedicated services such as portfolio management, multigenerational estate planning and philanthropic advisory. Families with substantial wealth—often exceeding $200 million —opt for this model to maintain full control and privacy over their financial affairs. A single-family office acts as a centralized hub for managing complex wealth, ensuring the family’s legacy and values are protected across generations.
Multi-Family Offices
High-net-worth multi-family offices, on the other hand, cater to multiple families, pooling resources to provide a wide range of services. This model is ideal for families seeking the expertise of a family office without the significant expense of establishing and managing (or paying a full-time executive to manage) their own office. Multi-family offices offer similar services to single-family offices, including investment management, asset allocation and management, wealth planning and family governance, but with the added benefit of cost-efficiency.
Both types of high-net-worth family offices must adhere to the U.S. Securities and Exchange Commission’s (SEC) Rule 202(a)(11)(G), which sets guidelines for how family offices operate and ensures they focus solely on serving family members and related entities, maintaining privacy and compliance.
Services Offered by Family Offices
High-net-worth family offices provide a comprehensive suite of services tailored to the unique needs of high-net-worth families. These services extend beyond traditional wealth management, integrating personal, financial and legacy planning under one umbrella.
Investment Management
A cornerstone of high-net-worth family office services, investment management involves creating and overseeing diversified portfolios tailored to each family’s risk tolerance, goals and long-term aspirations. Families with significant wealth often have a wide array of goals that expand when new generations with uniquely extended time horizons must be considered in investment plans. This includes strategies like asset allocation and management, manager selections and strategic planning.
Wealth Planning and Preservation
Family offices craft strategies to protect and grow wealth across generations. This includes multigenerational estate planning, tax optimization, asset protection and risk management and structuring family trusts to ensure assets are managed effectively and in alignment with family values.
Family Culture and Learning
Preserving family legacy goes beyond financial planning; it involves fostering shared values and preparing future generations for the responsibilities of wealth. High-net-worth family offices following best practices will integrate educational programs, retreats and workshops focused on family governance, leadership development and financial literacy into the relationship. These initiatives help strengthen family bonds and equip members (regardless of age) with the tools to manage their wealth responsibly.
Family Governance
Helping families navigate the complexities of managing shared wealth, family offices provide governance frameworks that include decision-making processes, succession planning and conflict resolution. As an example, the best multi-family offices even do things like helping client families find meaningful ways to welcome new members into the family, so they begin to take responsibility and support the family governance model from the very beginning.
Philanthropy and Impact Investing
Many families seek to make a difference through charitable initiatives. High-net-worth family offices provide philanthropic advisory services to identify causes, structure giving strategies and manage charitable foundations.
Lifestyle and Administrative Support
From managing property and travel to handling payroll and legal affairs, family offices provide day-to-day administrative assistance, freeing families to focus on their personal goals.
Costs and Minimum Net Worth for Family Offices
Establishing and maintaining a family office is a significant financial undertaking, making it a viable option primarily for families with substantial wealth. The costs associated with a family office vary depending on its size, services and structure, but they typically include staff salaries, office infrastructure, technology and legal or regulatory compliance.
Single-family offices often require an initial investment of millions of dollars to set up, with ongoing annual costs ranging from $1 million to $10 million or more. This high cost is justified by the exclusivity and customization provided, making it suitable for families with a net worth exceeding $200 million or more.
Multi-family offices, on the other hand, offer a more cost-effective solution by sharing resources among multiple families. Annual costs for these offices range from $100,000 to $1 million, depending on the scope of services provided. This structure is ideal for families with a net worth starting around $25 million who still require sophisticated wealth management but cannot justify the expense of a single-family office.
When evaluating whether a high-net-worth family office is the right fit, families should also consider the potential value it provides—such as the potential for enhanced portfolio performance, efficient wealth transfer strategies and the preservation of family values and governance.
At Matter Family Office, we work with families to determine the most effective structure for their needs, ensuring they receive the highest value from their investment in a family office while navigating the complexities of wealth management with confidence.
Strategic Family Wealth Management
Effective wealth management requires a strategic approach that considers the unique goals, values and circumstances of high-net-worth families. Family offices serve as a centralized hub for managing wealth with a long-term perspective, ensuring financial security and growth for current and future generations.
At the core of strategic wealth management is portfolio diversification, designed to balance risk and reward across a variety of asset classes, including stocks, bonds, hedge funds, private equity and real estate. Family offices take a highly personalized approach, tailoring investment strategies to match the family’s risk tolerance and financial objectives.
Equally important is legacy planning, which ensures wealth is preserved and transferred seamlessly across generations. Family offices coordinate multigenerational estate planning, tax strategies and trust management to minimize tax liabilities and align with the family’s broader vision.
Beyond investments, high-net-worth family offices often integrate philanthropy and impact investing into their strategies, helping families channel their wealth toward causes that reflect their values. This dual focus on financial performance and societal impact is increasingly vital for ultra-high-net-worth families seeking to create a lasting legacy.
Organizational and Staff Structures
The organizational structure of a high-net-worth family office plays a crucial role in delivering the customized services that high-net-worth families require. Whether operating as a single-family or multi-family office, these organizations are carefully designed to provide comprehensive, high-touch support.
A high-net-worth family office typically includes professionals from various disciplines, such as:
- Chief Investment Officer (CIO): Develops and oversees investment strategies tailored to the family’s financial goals and risk tolerance.
- Wealth Advisors: Provide expertise in financial planning, asset allocation and market analysis.
- Tax and Legal Experts: Ensure compliance with tax laws, income tax strategies and coordination, manage trusts and oversee multigenerational estate planning.
- Philanthropic Advisors: Help families align charitable giving with their values and goals.
- Lifestyle Managers: Handle administrative tasks such as payroll, property management, and travel coordination.
- Chief Compliance Officer (CCO): Ensures the office adheres to all regulatory requirements, including SEC rules, and manages the firm’s internal policies to help safeguard the family’s financial privacy and integrity.
- Chief Learning Officer (CLO): Designs and oversees programs to foster financial literacy, governance education and leadership development for family members, ensuring the next generation is prepared to manage wealth responsibly.
Benefits of a High-Net-Worth Family Office
High-net-worth family offices offer numerous advantages for high-net-worth individuals and families seeking to preserve and grow their wealth while aligning their financial strategies with their values. These benefits extend beyond financial management, providing a comprehensive solution for managing complex wealth scenarios.
Personalized Services
Family offices tailor their offerings to each family’s unique needs. This includes customized investment strategies, bespoke tax planning and governance structures that reflect the family’s goals and priorities.
Centralized Management
A family office acts as a single coordination point for all financial, legal and administrative matters. This reduces complexity and ensures that every aspect of the family’s wealth is managed cohesively.
Multi-Generational Planning
High-net-worth family offices are focused on preserving wealth across generations. They help families create succession plans, foster financial literacy among younger generations and establish governance structures that promote shared decision-making.
Enhanced Privacy
For families with substantial wealth, privacy is paramount. Family offices operate discreetly, shielding family members from unnecessary exposure while safeguarding sensitive financial information.
Legacy Building
Beyond managing assets, high-net-worth family offices help families align their wealth with their values through philanthropic initiatives, impact investing and cultural preservation.
Choosing the Right High-Net-Worth Family Office
Selecting the right family office is a critical decision for high-net-worth families. With the right partner, families can ensure their wealth is managed effectively while aligning financial strategies with their unique goals and values. Here are key factors to consider:
Services Offered
Evaluate the scope of services provided, including investment management, asset allocation and management, income tax strategies and coordination, family governance and culture and learning initiatives. A comprehensive family office should address both financial and non-financial aspects of wealth management.
Experience and Expertise
Look for a family office with a proven track record of serving families with similar needs. Expertise in multi-generational planning, regulatory compliance and tailored investment strategies is essential.
Cultural Fit
The high-net-worth family office should align with your family’s values, priorities and communication style. Strong relationships and shared understanding are key to long-term success.
Cost and Structure
Assess whether a single-family or multi-family office is the best fit based on your family’s net worth and desired level of service. Transparency in fees and costs is also vital.
Reputation and References
Research the family office’s reputation and seek references from other families they serve. Positive feedback and industry recognition are strong indicators of quality.
Future Trends in High-Net-Worth Family Offices
The family office landscape is evolving rapidly to meet the needs of high-net-worth individuals and families in a complex and interconnected world. Emerging trends are shaping the way these offices operate and the value they bring to their clients.
Increased Focus on ESG Investing
Environmental, Social and Governance (ESG) considerations are becoming a priority for many families. High-net-worth family offices are incorporating ESG criteria into investment strategies to align financial growth with positive societal impact.
Technology Integration
Family offices are leveraging advanced technology, including AI and data analytics, to enhance portfolio management, streamline operations and provide real-time insights. Secure client portals and digital tools are also becoming standard to improve accessibility and transparency.
Greater Collaboration
High-net-worth family offices are partnering with external advisors and industry experts to broaden their service offerings. This collaborative approach enhances expertise in areas like philanthropy, family governance and tax optimization.
Integrated Advisors
Instead of having numerous, unrelated professionals working on different aspects of a family’s account, the trend is shifting toward integrated advisors. These professionals provide a comprehensive approach, handling most aspects of a family’s financial life under one roof. At Matter Family Office, all of our advisors are integrated advisors. This means clients benefit from streamlined communication, cohesive strategies and a more personalized experience.
Focus on Education and Learning
Preparing the next generation to manage wealth responsibly is a growing priority. High-net-worth family offices are developing robust education programs to teach financial literacy, governance and leadership skills.
Globalization of Wealth Management
With families often holding assets and interests in multiple countries, family offices are expanding their expertise to include cross-border financial planning and compliance.
Why High-Net-Worth Family Offices Are Essential for Building and Preserving Legacy
Family offices play an essential role in helping high-net-worth families navigate the complexities of wealth management. By offering tailored services that address everything from investment strategies to family governance and education, these organizations provide a comprehensive solution for preserving and growing wealth across generations. Ultimately, the family office becomes an important extension of the family.
Whether you’re considering a single-family or multi-family office, the right partner will align their expertise with your unique goals, ensuring your wealth supports both your immediate needs and long-term legacy. With a focus on customization, privacy and values-driven solutions, family offices empower families to achieve their highest aspirations while simplifying the challenges of managing significant assets.
Partner with Matter Family Office for a Tailored Wealth Management Experience
Ready to explore how a high-net-worth family office can help you manage your wealth and achieve your goals? Contact Matter Family Office today to learn more about our tailored solutions for high-net-worth families. We have offices in St. Louis, Denver and Dallas and serve families across the United States. Let us partner with you to preserve your legacy and build a future of lasting impact.
High-Net-Worth Family Offices FAQ
What services does a family office provide?
High-net-worth family offices offer a wide range of services, including investment management, asset allocation and management, tax planning, multigenerational estate planning, philanthropic advisory, family governance, education and lifestyle management. They create a comprehensive approach to managing wealth while aligning financial strategies with the family’s long-term goals.
What’s the difference between a single-family office and a multi-family office?
A single-family office serves one family exclusively, offering highly personalized services, while a multi-family office caters to multiple families, sharing resources to reduce costs. Both provide robust wealth management, but single-family offices are more private and tailored, requiring a higher net worth to justify the expense.
How much does a high-net-worth family office cost?
Costs vary based on structure and services. Single-family offices may cost $1 million to $10 million annually, while multi-family offices range from $100,000 to $1 million. The costs reflect the depth of expertise, services and operational scale provided.
What is a high-net-worth family office’s minimum net worth?
Families typically need at least $200 million to justify a single-family office, given the high costs. For multi-family offices, a starting net worth of $25 million often makes the services cost-effective while still providing access to sophisticated wealth management.
What is the role of an integrated advisor?
An integrated advisor streamlines financial management by handling or helping to coordinate multiple aspects of a family’s wealth under one roof. At Matter Family Office, integrated advisors provide cohesive strategies, ensuring seamless coordination between investments, governance, taxes, insurance, trusts, philanthropy and other services for a personalized experience.
How does a high-net-worth family office preserve wealth across generations?
Family offices focus on multigenerational estate planning, succession strategies and education for younger generations. They ensure assets are transferred efficiently and values are instilled, fostering responsible wealth stewardship while addressing challenges like taxes and potential family conflicts.
Why choose Matter Family Office?
Matter Family Office combines technical expertise with a people-first approach, offering tailored services like integrated advising, family governance and strategic wealth planning. We prioritize your family’s values and goals, empowering you to preserve wealth, create meaningful impact and build a legacy for future generations.
What is the difference between a family office vs wealth management?
A high-net-worth family office offers comprehensive, tailored services, including investment management, asset allocation and management and multigenerational estate planning, as well as family governance and philanthropy, often focusing on multi-generational wealth. Wealth management primarily centers on investment and financial planning for individuals or families, typically without the broader focus on governance, education or legacy that a family office provides.
About Matter Family Office
Founded in 1990, Matter Family Office is an independent multi-family office that empowers ultra-high-net-worth families to achieve long-term success. Through an integrated, personalized approach to wealth management, Matter serves as a strategic partner, guiding families across the United States to navigate wealth complexities, make informed decisions and build enduring legacies. Learn more at Matter Family Office. Advisory services offered by Matter LLC, dba Matter Family Office, a registered investment adviser.