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What is Family Office Wealth Management?

Updated: Jan 26, 2023

Family Office Wealth Management is when one dedicated firm considers a family's financial needs, goals, and risk tolerances for a centralized vision of the family's financial legacy.

Park City Wealth Advisors takes tremendous pride in the exclusive services of our Family Office. We work with people located around the country, and our team understands that one family's needs differ from the next.

We work hard to build strategic plans based on a collaborative conversation with each of our clients and the other respected professionals around the table (CPAs, Attorneys, Bankers, etc).

What Does a Family Office Wealth Management Do?

How can you tell the difference between the services of Wealth Management and Family Office Wealth Management?

Some of Our Wealth Management Services include:

  • Portfolio Management

  • Estate Planning & Wealth Transfer

  • Cash, Debt & Expense Management

  • Financial Literacy

  • & Connecting you with a network of professionals that can help with any situation and more.

Some of Our Family Office Wealth Management Services include:

  • Private Wealth Management

  • Liquidity & Exit Planning

  • Tax Strategy

  • Family Governance & Wealth Transfer

  • Public & Private Investment

  • Philanthropic Strategy

  • Insurance Consultation

  • Entrepreneurial Guidance & Entity Structuring

Our Family Office uses holistic and unique approaches to go above and beyond just managing your daily investment accounts.

Is a Family Office Wealth Management the Right Fit for You?

Family Offices have become more common practices in the financial world. The Harvard Business Review explains, "What was once the province of a select few, like the Rockefellers and Vanderbilts, has become central to the investment world." So, how do you know if a Family Office is the next step for your family wealth? When it comes to wealth management, a Family Office is beneficial for several reasons…

Seamless Strategies

A Family Office will consider every one of your family member's needs, goals, and risk tolerances. One cohesive team is dedicated to the investments and assets of your whole family. By using a Family Office, your advisors can fully view your family's shared vision, creating a more personalized, seamless strategy for the family legacy.

After discussing your family's needs, goals, and risk tolerances, your plan is always flexible. When shifts happen, the office can adapt your financial strategy. Harvard Business Review explains that Family Offices are always ready to adapt to the changing needs of your family's needs "because as families grow across generations, the interests of individuals will diverge — what investments to own, services to receive, and charities to support, etc."

Neutralize Risk Factors

Your financial health faces fewer risks when you use a Family Office. Forbes explains this benefit best by saying: "[Family Offices are] highly diversified and don't focus on any one area. There's no single source of income that feeds into other investments. The advantage to this diversification is that if one specific investment area suffers a downturn, they have assets in many other areas to balance those losses."

How to Get Started with Family Office Wealth Management

At Park City Wealth Advisors, our Family Office uses experienced, proven strategies when building the plan for your family's financial legacy.

We are proud to serve our global client base of CEOs, Founders, Entrepreneurs, Pre-liquidity and Next-Generation Innovators, High-net-worth individuals, their families, and more. Let our Family Office focus on the details so you can spend more time doing what is most important to you. For a complimentary overview with our team, contact us today!

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