It’s been over half a century since family offices came to be a credible vehicle for management and investment of wealthy family funds. During that half-century, a lot has changed.
Traditional family offices still very much exist – where one family has one person or a small team who do the research, manage the investment relationships and manage the funds on behalf of the family. But, as most things do throughout the years, modern family offices are evolving.
Historically, these offices were strictly independent of any particular broker’s investment products. Now, we are seeing trends whereby family offices are adding to their lineup of services. From education to concierge services to the management of private jets and yachts – these new family offices are looking to diversify. Some are even blending their wealth with other families who share similar values in order to strengthen and leverage their investment power.
While that may not appeal to everyone, using different approaches and offering different services can be highly appealing to younger generations. It can lead to greater profit, and that’s always a good thing.
These newer offices have been termed “multi-label” offices and they are cutting their own path away from the traditional family office approach.
At CGI we have a “family” team of multifamily and mixed-use real estate investors, developers and operators for family offices. We are fully prepared to move into the future with our range of knowledge and top talent in all facets of this industry and beyond. By having a “multifamily” approach to business- this sets the wheels in motion for profits and expandability for years to come.
