The Ultra-Wealthy Prefer Multi-Family Offices To Wealth Managers

The ultra-wealthy (net worth = US$30 million or more) are preferred clients for investments, life insurance, bankers and other professionals. They have the financial needs and wants coupled with the ability to pay for value. Consequently, a lot of different types of firms are competing to address the financial needs and concerns of the ultra-wealthy.

In a survey of 206 ultra-wealthy individuals, about three-quarters of them prefer to work with multi-family offices. Another 15% like wealth management firms. Less than 10% choose investment advisors. The remaining few percent opts for planning firms. Clearly, individuals with money are strongly attracted to multi-family offices.

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