family office These enterprises are almost always structured as stand-alone business entities. They are dedicated to managing wealth of a single family. The benefits of single family office are services that are highly tailored to families' needs and values, including legal compliance and aligned investment philosophy. On the contrary, this entity is expensive to run and is mostly suitable for families with a significant wealth. Multi-family office Compared to single family offices, multi-family offices serve two or more affluent families. Although their services are not as compound, they are becoming a popular and attractive option for families and individual wealth owners with less complex needs. Many multi-family offices were eventually built on the single family office base but later started expanding and offering their services to more than just one client. Key advantage of joining multi-family office is its cost saving efficiency. Virtual family office For families that are spread across geographies, virtual family office is a popular option. With the growth of family office technologies, families can efficiently work remotely while remaining a cost effective solution. See also Private foundation References External links Largest Family Offices - Rankings List Investment management Family economics Tax avoidance