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Addicus finds more people moving to a multi-family office


More families are moving toward multi-family offices (MFOs) for their family wealth planning services, according to Addicus.

MFOs attract the financial elite because banks, wirehouse advisors or a family attempting to manage funds themselves cannot match an MFO’s expertise and benefits.
Most banks and financial institutions would admit their core competency is not overall wealth planning. They are not usually in the business of giving advice to their client regarding their overall wealth strategies, and their total portfolio, which does not only include their marketable investment assets but businesses, real estate, and other ventures.
"Our clients have multiple concerns regarding their liquid and illiquid assets," says Stephen D Miles, principal of Addicus. "They are looking for someone to help solve the complex issues surrounding their total estate. A multi-family office like Addicus brings a level of expertise, thoroughness and precision that often makes a dramatic impact on the family’s accumulated wealth."
Most families believe that it requires a net worth in excess of USD100m to work with a MFO. Addicus disagrees with this sentiment and believes families who fall under this number can also benefit from their MFO services.
"There are a great number of families who deal with complicated transactions in the USD10m to USD100m net worth range that need competent and independent advice,” says Drew Adams, principal of Addicus."

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