Family Office Formation 

The decision to form a family office requires precise analysis of a wide spectrum of considerations.  Wherever you are in the process, let Harpswell be your partner to set the structure you need to be successful. 

A Family Office can play an important role in managing a family’s wealth in several ways.  It provides a decision-making framework for investment planning by evaluating the needs of each family member and identifying suitable products and allocations to meet everyone’s expectations.  Present-day estate plans tend to be complicated, requiring that families pay close attention to details when managing their wealth.  Family Offices are especially important when multiple generations are present.  As younger generations come of age, participating in the Family Office becomes an educational experience to enable proper stewardship of the family’s wealth over time and insuring that all viewpoints are reflected.

 Apart from family members, Family Offices can be staffed, virtual or a hybrid. Staffed offices provide highly customized services while virtual offices rely on third-parties and software. Larger families are more likely to have staffed offices given the higher operating expenses, while virtual offices offer many of the benefits but at lower costs.

 Hybrid solutions are common as well, employing limited staff and utilizing virtual solutions to provide a family with the services and information they need.

Harpswell itself is structured like an investment arm of a family office and welcomes the opportunity to extend our view on best practices to your family. 
Please reach out to see how we can best serve you.