Reaching the Family Office Tipping Point

6 Signs it’s the Right Move for Your Family

By Gemma Leddy, CPA

Is now the time to set up a family office? That’s the million dollar question, or more likely the $50 or $100 million question, facing many wealthy individuals and families who have accumulated significant assets. The problem is there’s no set answer.

While $50 million in investable assets is a potential trigger for creating a family office, there are people and families with significantly more assets who haven’t taken that next step. The reality is the need to set up a family office is more about complexity, privacy and managing information and resources than it is about hitting a magic number.

While there’s no hard and fast number, there are certain warning signs consistent across families that likely indicate it’s time to make a move. To help wealthy individuals and families who are considering a family office, we’ve outlined some common warning signs to help them realize when the family office tipping point has been reached and it’s time to consider a holistic approach to wealth management and asset protection.

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Gemma Leddy, CPA
PKF O’Connor Davies Family Office
[email protected] | 914.341.7073