The family office landscape has expanded rapidly, driven by increasing global wealth and the desire for personalized wealth management solutions. According to a recent report by Deloitte, as of 2024, there are approximately 8,030 single-family offices globally. According to Forbes, there are more than 10,000 single-family offices and 5,000 multi-family offices globally as of January 2024. The number is hard to nail down, because it varies depending on how you define a family office.
The term family office is often used broadly, but what truly defines one? Is it the level of wealth? The services offered? The number of generations involved? The truth is, a family office is less about a rigid definition and more about a dynamic structure tailored to the unique needs of the families it serves.
More Than Just Wealth Management
At its core, a family office is designed to manage and preserve wealth across generations, but it goes far beyond investment management. A well-structured family office serves as the central hub for financial oversight, tax planning, bill pay, estate strategy, philanthropy, and concierge-level lifestyle services. Some family offices also provide business advisory support, overseeing private investments or operating businesses on behalf of their clients.
Not all family offices are the same. Single-family offices (SFOs) serve one ultra-high-net-worth family, offering highly customized services. Multi-family offices (MFOs), on the other hand, cater to multiple families, providing similar expertise but with shared resources and economies of scale. Choosing between the two depends on factors like cost, complexity, and the level of personalization needed. While an SFO offers exclusivity and control, an MFO can provide access to a broader pool of expertise and more cost-effective solutions.
A Structure Built for the Future
A defining characteristic of a family office is its long-term perspective. Wealth preservation isn’t just about the present — it’s about structuring assets and governance models that will sustain future generations. Many family offices establish trusts, foundations, and educational initiatives to ensure wealth isn’t just preserved but also aligned with family values and goals.
Technology also plays a key role in modern family offices. The foundation of any efficient family office is embracing technology specifically designed to serve wealthy clients. Purpose-built platforms have reshaped how family offices operate — allowing them to scale efficiently while maintaining security, transparency and control.
These platforms handle complex accounting, reporting, bill pay and investment management needs in an integrated system where data never has to be rekeyed, pulling reports becomes easier, and getting answers to client questions takes a fraction of the time. Solutions like AgilLink offer an integrated platform that simplifies multi-entity accounting and bill pay, resulting in improved client service, and better decision-making.
A family office isn’t just a financial entity — it’s a strategic, personalized framework designed to support the evolving needs of ultra-high-net-worth families. Whether it’s a single-family office maintaining generational wealth or a multi-family office providing shared expertise, the ultimate goal remains the same: to create a legacy that endures.
At AgilLink, we understand the complexities of managing family wealth. For over 45 years hundreds of family offices have used our platform to provide the financial infrastructure family offices need—streamlining operations, securing data, improving transparency, and ensuring that wealth is managed with the precision and care it deserves.
Want to learn more about how AgilLink can support your family office? Contact us today.
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