The launch of the guide comes as the number of family offices has surged in recent years, increasing 38% in the period July 2017 to July 2019 and managing an estimated $5.9 trillion of assets according to Campden Research. They are now an increasingly common way for wealthy families to organise their financial and administrative affairs but the way they operate can vastly differ.
Ocorian Executive Director and family office lead, Richard Joynt authored the guide and said: “Family offices are a growing economic force but owing to the diverse array of businesses that fall under the family office description, it is not always clear how they operate.
It is estimated that family offices manage an estimated $5.9 trillion of assets
“A Guide to Family Offices therefore provides a valuable reference point for wealth professionals and those unfamiliar with family offices to enhance their understanding of this thriving sector”.
Nick Cawley, Ocorian’s Global Private Clients service line leader added: “Our family office service is built on long-term personal relationships that are founded on a deep understanding of what matters to our clients now and in the future.
“We offer tailored, practical solutions that are flexible enough to adapt to changing family circumstances and can support across our global network which is designed to deliver exactly what our clients need, exactly how and where they need it”.