Family office

Family office — a private firm (or a rented slice of one) that runs the investments, tax, estate planning, and reporting for a single family’s balance sheet. Thresholds price the tiers: outsourced/virtual viable around $10–30M, multi-family office $30–100M, single-family office $100M+ — because running one costs roughly 0.35–0.44% of AUM per year. Below the threshold, the “family office” is your own dashboard, calendar, and discipline.

First used in: 5.1 · How the wealthy actually allocate