What can ultra-affluent clients learn from the origins of a multi-family office?
As new entrants to the multi-family office space continue to increase, clients are well served by having a better overview of where they started. By understanding the origin of a multi-family office, clients can gain some unique insight into the potential strengths and weaknesses of the firm.

What you need to know

  • Wealthy families are increasingly seeking out multi-family offices to manage their wealth.
  • To meet the growing interest, new multi-family offices have emerged out of single family offices and advisors leaving larger financial institutions.
  • Understanding the origin of a firm can provide valuable insights into possible strengths and weaknesses.
  • Firms previously structured as a single family office are focused on new challenges related to scaling their offering to accommodate more families.
  • Advisors leaving larger financial institutions are challenged with the procurement of services once provided for them by a proprietary platform.
Operations Updated on November 27, 2022

The single family office is the gold standard in the wealth management industry.  It was invented by the wealthiest families in America beginning with prominent names like Rockefeller and Morgan.  It continues to be the most sought-after structure as each family has ultimate control over who they hire, what services they provide, where they are located, and how it is run. Many family offices include family members within the leadership teams to ensure their interests are represented directly. Although most wealthy families would like to have a dedicated group of advisors serving their family exclusively, the cost of execution is too high. Costs can easily exceed $2-3 million on an annual basis when running a full-service single family office. This has led to a movement toward a multi-family office, which operates similarly to a single family office but has extended to a select number of additional families in order to share some of the costs. In deciding which type of family office is best suited to one’s needs, there’s more to be considered than just costs and processes.

The Origin of Multi-Family Offices

About the Authors

Jason Pinkham

Jason Pinkham

Family office advisory

Jason is the CEO and President of Goose Rocks Wealth, where he works with ultra-affluent families to help them understand the family office space in the United States and ultimately identify one that best suits the families' particular needs.

Connect with Jason Pinkham

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