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Individuals and families with substantial wealth and complex financial situations could typically benefit from a family office. It’s not necessarily a dollar amount of wealth that warrants the need for a family office, but the complexity of the wealth and desire to outsource these tasks to experts in different areas.
A family office is not just about preserving wealth; it’s about preserving values and passing them on to the next generation. Beyond mere wealth management, a family office endeavours to craft, curate, and carry forward a family’s legacy, ensuring the foundational values and ethos transmit seamlessly to successive generations.
While it might initially appear that family offices are the exclusive realms for the uber-rich, designed to cater only to the select few with enormous wealth, their relevance and utility stretch much further. They serve as structured sanctuaries for wealth management, particularly beneficial to families navigating the intricate labyrinths of substantial assets.
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