Make your firm indispensable to elite clients.
By Russ Alan Prince
If you have an elite wealth management practice, you might want to “upgrade” to a family office practice.
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Self-proclaimed family office practices are multiplying at an incredible rate. For a great many financial and legal professionals, professing to have family office practices is nothing more than a marketing ploy.
As there is no “official” definition of a family office practice, anyone can say they have a family office practice irrespective of the expertise they can deliver. Today, family offices are being described in all sorts of ways.
But, when you get right down to it, a family office is a very simple concept: “A family office is an expert coordinator of expertise that optimizes the lives of family members.”
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