Not everyone who is considered UHNW needs a family office, but everyone agrees that a family office makes life a lot less stressful. This can be especially helpful for family leaders who personally handle most aspects of a complex and time-consuming financial structure. You can also hire a UBS global family office to help you manage your family's wealth.
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For the frequent traveler, whether for business or leisure, the family office makes sure family life runs smoothly – bills paid, employees checked, investment portfolio managed, taxes paid. This can be especially important for former C-suite executives who no longer have personal assistants after they retire.
Family offices can also be very reassuring and affordable to handle many of the one-offs life presents. For very high-asset families, whose financial needs can be very complex, the family office offers a huge added value, as it offers a unified service model that covers everything financially.
When the family decides to work with multiple professionals, very often important things can fall through the proverbial "crack". The support provided by the family office significantly reduces the gap in individual financial silos.
The family office is not for every family, but for those with large fortunes, complex financial lives, and a desire to make the mundane and the complex a little smoother, the family office could be the ideal solution.