Luxury Portfolio Vol. 06 Issue 01 - Sheryl Simon

HOW TO FIND THE RIGHT MULTI-FAMILY OFFICE? Clients, or real estate professionals looking to refer clients, have many things to consider. VPA recommends focusing on the following criteria:

1. 2. 3. 4. 5.

Screening for integrity is at least as important as evaluating competence.

The incentive structures of the firm and of the individual advisor are critical to understanding whether they are trustworthy.

Evaluate individual advisors, look for hard-to-obtain designations requiring ongoing compliance with ethical and professional standards, such as the Chartered Financial Analyst (CFA) designation. This helps ensure that you’ll have a seasoned investment professional allocating your portfolio.

If selecting advisors with ultra-high-net-worth clients in mind, a cross-disciplinary skill set (investment, tax and executive) is critical.

Medium-sized independent multi-family offices are the sweet spot in the market for families with net worth between $20m–$400m. In addition to getting access to the skill sets and networks relevant to the segment, you’ll get partner-level attention, a long-term relationship orientation and sufficient resources. Ultimately, the evolution and growth of the family office is a reflection of the times today and speaks directly to the unique, specialized and highly customized needs of today’s high-net-worth.

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