What are family office services?

Having read the story on intergenerational investing, I found it quite interesting. I’m keen to learn more about the concept of ‘family office services’, which you referenced in the external expertise section. - Radha K

Editor Responds: We appreciate your kind words of encouragement. Family office services typically cover a variety of specialised financial, investment, and lifestyle management offerings designed specifically for affluent families and individuals. These services include investment management, customised investment strategies, and performance monitoring to aid in achieving financial objectives. Family offices also assist in tax planning and compliance to minimise tax burdens through strategic approaches aligned with tax regulations. Furthermore, they offer support in developing and executing comprehensive estate plans aimed at safeguarding assets, reducing estate taxes, and facilitating seamless wealth transfer to future generations. Additionally, family offices assess and mitigate risks associated with wealth preservation, including asset protection, liability management, and insurance solutions.