Family Office Consulting
There are various types of family office structures: 1) single-family offices, commonly known as SFOs, and 2) multi-family offices, commonly known as MFOs. A single-family office typically addresses the financial, tax, legal, philanthropic, and concierge needs of the descendants of a common ancestor. This group could encompass multiple branches and generations of an extended family. A family office can provide professional, private, and conflict-free management of the family’s affairs to increase the chances of sustaining human and financial capital for the long term.
Perhaps the single-family office’s greatest strength is the customization of services, with an intimate understanding of the family and their needs. Services usually include things like financial planning, investment management, tax accounting, legal services, risk management, charitable giving, lifestyle management, closely held business management, concierge services, and foundation management. A single-family office combines these services into one office and one staff, ensuring ease of use for the family.
There’s a saying in the family office industry: “If you’ve seen one family office, you’ve seen one family office.” CLS Legacy Team members are experts in the family office field and understand that every family is unique. Our team will work with you and your family to design, implement, and operate a family office structure to address your individual needs. During the design process, CLS Legacy Team will define family governance, guide estate planning, formalize office processes, and educate the next generation. Whether your family is just dipping their toe into the family office waters or drowning, CLS Legacy Team offers support in your journey.